Hard Seltzer - Armenia

The Hard Seltzer market in Armenia has experienced significant growth in recent years.

Customer preferences: Armenian consumers have shown a growing interest in healthier beverage options, which has contributed to the rise in popularity of Hard Seltzers. With an increasing focus on health and wellness, many individuals are seeking alternatives to traditional alcoholic beverages that are lower in calories and sugar. Hard Seltzers, with their light and refreshing taste, have captured the attention of health-conscious consumers in Armenia.

Trends in the market: One of the key trends in the Hard Seltzer market in Armenia is the introduction of locally produced options. Domestic breweries have recognized the potential of this emerging market and have started producing their own Hard Seltzer brands. This has not only increased the availability of Hard Seltzers in the country but has also created a sense of pride among Armenian consumers who prefer to support local businesses. Another trend in the market is the introduction of unique and exotic flavors. While traditional flavors like lime and grapefruit remain popular, Armenian consumers have shown a willingness to experiment with new and exciting flavors. Hard Seltzer brands have responded to this demand by offering flavors such as pomegranate, apricot, and fig, which are native to Armenia. This localization of flavors has resonated well with consumers, who appreciate the connection to their cultural heritage.

Local special circumstances: Armenia has a vibrant drinking culture, with a preference for alcoholic beverages such as wine and brandy. However, the rise of the Hard Seltzer market in the country can be attributed to the changing preferences of younger consumers. This demographic is more open to trying new and innovative beverages, and the light and refreshing nature of Hard Seltzers aligns well with their taste preferences. Furthermore, the increasing popularity of outdoor activities and social gatherings has also contributed to the growth of the Hard Seltzer market in Armenia. Hard Seltzers are often associated with outdoor events and are seen as a convenient and portable option for those looking to enjoy a refreshing drink while on the go. This aligns well with the lifestyle of many Armenian consumers who enjoy spending time outdoors with friends and family.

Underlying macroeconomic factors: Armenia has experienced steady economic growth in recent years, which has resulted in an increase in disposable income for many consumers. This has allowed individuals to explore new and premium beverage options, including Hard Seltzers. The affordability of Hard Seltzers compared to other premium alcoholic beverages has made them an attractive choice for consumers looking for a quality product without breaking the bank. In conclusion, the Hard Seltzer market in Armenia has seen significant growth due to the changing preferences of health-conscious consumers, the introduction of locally produced options, the availability of unique flavors, and the influence of outdoor activities and social gatherings. With the continued economic growth in the country, it is expected that the Hard Seltzer market in Armenia will continue to expand 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.