Cider, Perry & Rice Wine - Guyana

The Cider, Perry & Rice Wine market in Guyana has been experiencing significant growth in recent years. Customer preferences in Guyana have been shifting towards alternative alcoholic beverages such as cider, perry, and rice wine. This can be attributed to a growing interest in exploring new flavors and experiences. Consumers are looking for unique and diverse options beyond traditional alcoholic beverages like beer and spirits. Additionally, there is a trend towards healthier drinking choices, and these alternative beverages are often perceived as lighter and more natural options. One of the key trends in the Cider, Perry & Rice Wine market in Guyana is the increasing availability and variety of products. Local and international producers have recognized the growing demand and have started to introduce a wider range of options to cater to different tastes. This includes flavored ciders, perrys made from different fruits, and rice wines with unique ingredients. This trend is driven by the desire to offer consumers more choices and to differentiate themselves in a competitive market. Another trend in the market is the focus on premium and craft products. Consumers are willing to pay a premium for higher quality and artisanal beverages. This has led to the emergence of small-scale producers who are passionate about creating unique and high-quality ciders, perrys, and rice wines. These craft products often emphasize traditional production methods and locally sourced ingredients, appealing to consumers who value authenticity and craftsmanship. In addition to customer preferences, there are some local special circumstances that have contributed to the development of the Cider, Perry & Rice Wine market in Guyana. The country has a rich agricultural heritage, with a variety of fruits and crops grown locally. This provides a strong foundation for the production of ciders, perrys, and rice wines made from local ingredients. Furthermore, Guyana has a diverse cultural background, with influences from various ethnic groups. This diversity has contributed to the demand for a wide range of flavors and styles in the market. Underlying macroeconomic factors have also played a role in the development of the market. Guyana has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has created a more favorable environment for the growth of the Cider, Perry & Rice Wine market, as consumers have more purchasing power to explore new and premium products. Overall, the Cider, Perry & Rice Wine market in Guyana is developing due to changing customer preferences, the availability of a wider range of products, the focus on premium and craft offerings, local special circumstances, and underlying macroeconomic factors. As these trends continue to evolve, it is expected that the market will continue to grow and diversify in the coming years.

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.