Cider, Perry & Rice Wine - Ecuador

The Cider, Perry & Rice Wine market in Ecuador has been experiencing significant growth in recent years.

Customer preferences: Ecuadorian consumers have shown a growing interest in alternative alcoholic beverages, such as cider, perry, and rice wine. This shift in consumer preferences can be attributed to several factors. Firstly, there is a growing trend towards healthier lifestyles, with consumers seeking out beverages that are perceived as being more natural and less processed. Cider, perry, and rice wine are often seen as more natural alternatives to traditional alcoholic drinks, as they are made from fermented fruits or grains. Additionally, these beverages offer a unique flavor profile that appeals to consumers looking for something different from the usual offerings in the market.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Ecuador is the increasing availability of locally produced products. Ecuador has a rich agricultural sector, with a wide variety of fruits and grains that can be used in the production of these beverages. This has led to the emergence of local producers who are capitalizing on the demand for these products. These local producers often focus on using traditional production methods and locally sourced ingredients, which further enhances the appeal of their products to consumers. Another trend in the market is the expansion of the product range. While cider, perry, and rice wine were initially limited to a few traditional flavors, there has been a growing diversification of flavors and styles. This is driven by both local producers and international brands entering the market. Consumers now have a wider range of options to choose from, including flavored varieties, limited editions, and premium offerings. This trend has contributed to the overall growth of the market, as it attracts new consumers and encourages existing consumers to try different products.

Local special circumstances: Ecuador's climate and geography provide unique opportunities for the production of cider, perry, and rice wine. The country has a diverse range of fruits and grains that can be used in the production process, including apples, pears, and rice. Additionally, Ecuador's fertile soil and favorable weather conditions contribute to the high quality of the ingredients used in these beverages. This gives local producers a competitive advantage in terms of sourcing and producing high-quality products.

Underlying macroeconomic factors: Ecuador's growing middle class and increasing disposable incomes have played a significant role in the development of the Cider, Perry & Rice Wine market. As consumers have more disposable income, they are able to spend more on premium and niche products, such as cider, perry, and rice wine. Additionally, the country's tourism industry has been growing steadily, attracting both domestic and international visitors who are interested in experiencing the local culture and trying unique products. This has created a demand for locally produced beverages, including cider, perry, and rice wine. In conclusion, the Cider, Perry & Rice Wine market in Ecuador is experiencing growth due to changing customer preferences, the emergence of local producers, and favorable macroeconomic factors. The market is expected to continue expanding as consumers seek out alternative alcoholic beverages and local producers continue to innovate and diversify their product offerings.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.