Hard Seltzer - Chile

The Hard Seltzer market in Chile has been experiencing significant growth in recent years.

Customer preferences: Chilean consumers have shown a growing interest in low-calorie and healthier beverage options. This shift in consumer preferences towards healthier choices has been a key driver behind the rise in popularity of Hard Seltzers. With their low calorie and sugar content, as well as refreshing fruit flavors, Hard Seltzers have quickly gained traction among health-conscious consumers in Chile.

Trends in the market: One of the major trends in the Hard Seltzer market in Chile is the increasing number of local and international brands entering the market. This has led to a wider variety of options for consumers to choose from, catering to different taste preferences and price points. The competition among these brands has also led to innovation in terms of flavors and packaging, further fueling the growth of the market. Another trend in the market is the rising popularity of Hard Seltzers among younger consumers. The millennial and Gen Z population in Chile is increasingly seeking out trendy and unique alcoholic beverages, and Hard Seltzers fit the bill perfectly. The social media presence and influencer marketing campaigns have played a significant role in promoting Hard Seltzers as a fashionable and desirable choice among the younger demographic.

Local special circumstances: Chile's warm climate and outdoor lifestyle have contributed to the growing demand for refreshing and light alcoholic beverages. Hard Seltzers provide a convenient and portable option for consumers to enjoy during outdoor activities or social gatherings. The convenience factor, coupled with the desire for healthier alternatives, has made Hard Seltzers a popular choice among Chilean consumers.

Underlying macroeconomic factors: Chile's stable economy and increasing disposable income levels have also played a role in the development of the Hard Seltzer market. As consumers have more purchasing power, they are willing to spend on premium and innovative products like Hard Seltzers. Additionally, the growing tourism industry in Chile has attracted international brands to enter the market, further boosting competition and driving market growth. In conclusion, the Hard Seltzer market in Chile is experiencing growth due to the changing consumer preferences towards healthier options, the increasing number of brands entering the market, the rising popularity among younger consumers, the country's warm climate and outdoor lifestyle, and the underlying macroeconomic factors such as stable economy and increasing disposable income levels.

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.