Alcoholic Drinks - Fiji

The Alcoholic Drinks market in Fiji is experiencing significant growth and development.

Customer preferences: In Fiji, there is a growing demand for alcoholic drinks, particularly among the younger population. This can be attributed to the influence of Western culture and the increasing popularity of socializing in bars and clubs. Fiji's tropical climate also plays a role in shaping customer preferences, as there is a high demand for refreshing and fruity alcoholic beverages such as cocktails and tropical flavored spirits. Additionally, there is a preference for locally produced alcoholic drinks, as consumers appreciate supporting local businesses and the unique flavors that come from locally sourced ingredients.

Trends in the market: One of the key trends in the Alcoholic Drinks market in Fiji is the rise in craft beer consumption. Craft breweries have gained popularity in recent years, offering consumers a wide variety of unique and flavorful beers. This trend can be attributed to the growing interest in artisanal products and the desire for more diverse and high-quality options. Craft beer festivals and events have also become more common, providing an opportunity for consumers to explore different beer styles and support local breweries. Another trend in the market is the increasing popularity of premium and imported spirits. As disposable income levels rise and consumers become more sophisticated in their tastes, there is a growing demand for higher-end spirits such as whiskey, vodka, and rum. Imported spirits from countries like Scotland, Russia, and the Caribbean are particularly sought after for their perceived quality and prestige. This trend is driven by the desire for status symbols and the influence of global trends in the alcoholic drinks industry.

Local special circumstances: Fiji's tourism industry plays a significant role in shaping the Alcoholic Drinks market. The country attracts a large number of international tourists, who often have different preferences and tastes compared to the local population. This has led to an increase in the availability of international brands and a wider variety of alcoholic beverages in hotels, resorts, and tourist areas. Additionally, the tourism industry has created a demand for specialty drinks and cocktails that cater to the preferences of foreign visitors.

Underlying macroeconomic factors: Fiji's stable economic growth and increasing disposable income levels have contributed to the development of the Alcoholic Drinks market. As the economy strengthens, consumers have more purchasing power and are willing to spend on luxury items such as alcoholic beverages. The government's efforts to promote tourism and attract foreign investment have also had a positive impact on the market, as it has led to an increase in the number of tourists and the overall demand for alcoholic drinks. Furthermore, the government's favorable tax policies and regulations have encouraged the growth of local breweries and distilleries, creating a favorable environment for the industry to thrive.

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.