Hard Seltzer - Bhutan

The Hard Seltzer market in Bhutan is experiencing significant growth and development.

Customer preferences: Bhutanese consumers are increasingly drawn to the refreshing and light taste of Hard Seltzers. The market is driven by a growing demand for low-alcohol beverages that offer a healthier alternative to traditional alcoholic drinks. Consumers are also attracted to the wide range of flavors available in Hard Seltzers, which cater to different taste preferences. The convenience and portability of canned Hard Seltzers are also appealing to the Bhutanese population, especially among the younger demographic who seek on-the-go options.

Trends in the market: One of the key trends in the Hard Seltzer market in Bhutan is the rise of local brands. Domestic companies are capitalizing on the growing popularity of Hard Seltzers by introducing their own unique flavors and branding strategies. This trend not only supports the local economy but also provides consumers with a sense of pride in supporting homegrown products. Another trend in the market is the increasing availability of Hard Seltzers in various retail channels. Initially, Hard Seltzers were primarily sold in liquor stores, but they are now becoming more prevalent in supermarkets, convenience stores, and online platforms. This wider distribution network allows for greater accessibility and convenience for consumers, further driving the market growth.

Local special circumstances: Bhutan's unique cultural and environmental factors contribute to the development of the Hard Seltzer market. The country's commitment to Gross National Happiness and the emphasis on holistic well-being aligns with the trend towards healthier lifestyle choices, including the consumption of low-alcohol beverages like Hard Seltzers. Additionally, Bhutan's pristine natural environment and focus on sustainability resonate with the eco-friendly packaging and production practices of many Hard Seltzer brands.

Underlying macroeconomic factors: The growing middle-class population in Bhutan, coupled with rising disposable incomes, is a key macroeconomic factor driving the development of the Hard Seltzer market. As more Bhutanese consumers have the financial means to explore new products and experiences, the demand for premium and innovative beverages like Hard Seltzers increases. Furthermore, Bhutan's tourism industry plays a role in the market's growth. With an increasing number of international visitors, there is a demand for beverages that cater to diverse palates. Hard Seltzers, with their wide range of flavors, offer a unique and appealing option for both tourists and locals. In conclusion, the Hard Seltzer market in Bhutan is experiencing growth due to customer preferences for healthier and more diverse beverage options. The rise of local brands, increased availability in retail channels, and Bhutan's unique cultural and environmental factors all contribute to the market's development. The growing middle-class population and the influence of the tourism industry are underlying macroeconomic factors that further drive the market's expansion.

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.