Cider, Perry & Rice Wine - Malaysia

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

Customer preferences: In Malaysia, there has been a growing trend towards healthier and more diverse beverage options. Consumers are increasingly looking for alternatives to traditional alcoholic beverages such as beer and spirits. Cider, Perry & Rice Wine offers a unique and refreshing option for those seeking a lighter and more fruity alternative. Additionally, the rising popularity of craft beverages has also contributed to the growth of the market, as consumers are looking for more artisanal and locally-produced options.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Malaysia is the increasing availability and variety of products. Both local and international brands have been entering the market, offering a wide range of flavors and styles to cater to different consumer preferences. This has led to increased competition and innovation in the market, with companies constantly introducing new and exciting products to attract consumers. Another trend in the market is the growing popularity of flavored ciders. While traditional apple cider remains a popular choice, there has been a rise in demand for ciders infused with different fruits and flavors. This trend is driven by consumers' desire for unique and exotic taste experiences. Additionally, the use of local fruits in flavored ciders has also gained traction, as it appeals to consumers' preference for locally-sourced and sustainable products.

Local special circumstances: One of the unique factors influencing the Cider, Perry & Rice Wine market in Malaysia is the country's multicultural and diverse population. Malaysia is home to various ethnic groups with different cultural backgrounds and preferences. This diversity has contributed to the demand for a wide variety of flavors and styles in the market. Manufacturers and producers have recognized this and have been tailoring their products to cater to the diverse tastes of the Malaysian population.

Underlying macroeconomic factors: The growing middle-class population and increasing disposable income in Malaysia have also played a role in the development of the Cider, Perry & Rice Wine market. As consumers have more purchasing power, they are willing to explore and try new products, including alternative alcoholic beverages. Additionally, the rise of tourism in Malaysia has also contributed to the growth of the market, as visitors from around the world are exposed to different types of ciders and wines, leading to increased demand. In conclusion, the Cider, Perry & Rice Wine market in Malaysia is experiencing growth due to changing customer preferences, including a desire for healthier and more diverse beverage options. The market is characterized by a wide variety of products and flavors, driven by increased competition and consumer demand. The multicultural and diverse population in Malaysia, along with the country's growing middle-class and increasing disposable income, are key factors contributing to the growth of the market.

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.