Alcoholic Drinks - Eastern Asia

The Alcoholic Drinks market in Eastern Asia has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the region have been shifting towards premium and craft alcoholic beverages. Consumers are becoming more interested in the quality, taste, and unique flavors of alcoholic drinks, rather than simply consuming for the purpose of getting drunk. This has led to a rise in demand for high-end spirits, craft beers, and boutique wines. Additionally, there is a growing interest in health-conscious drinking, with consumers seeking out low-alcohol options and beverages made from natural ingredients. Trends in the market include the rise of e-commerce and online alcohol delivery services. With the increasing popularity of online shopping, consumers are now able to conveniently purchase their favorite alcoholic beverages from the comfort of their own homes. This has also opened up opportunities for smaller, niche alcohol brands to reach a wider customer base. Local special circumstances in Eastern Asia have also contributed to the growth of the Alcoholic Drinks market. For example, in countries like China and South Korea, there is a strong drinking culture where alcohol is often consumed during social gatherings and business meetings. This has created a steady demand for alcoholic beverages in these markets. Underlying macroeconomic factors such as rising disposable incomes and urbanization have also played a role in the development of the Alcoholic Drinks market in Eastern Asia. As more people move to urban areas and their incomes increase, they have more disposable income to spend on leisure activities, including alcohol. This has created a larger consumer base for alcoholic drinks in the region. In conclusion, the Alcoholic Drinks market in Eastern Asia is experiencing growth due to changing customer preferences, the rise of e-commerce, local drinking cultures, and underlying macroeconomic factors. As consumers continue to seek out high-quality and unique alcoholic beverages, the market is expected to continue its upward trajectory.

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.