Hard Seltzer - Guyana

The Hard Seltzer market in Guyana has been experiencing significant growth in recent years. Customer preferences in the market have shifted towards lighter and more refreshing alcoholic beverages. Hard Seltzers, with their low calorie content and fruity flavors, have emerged as a popular choice among consumers. The trend towards healthier lifestyles and conscious drinking has also contributed to the rise in demand for Hard Seltzers. Trends in the market indicate that the popularity of Hard Seltzers is not limited to Guyana, but is a global phenomenon. Worldwide, consumers are increasingly seeking out alternatives to traditional alcoholic beverages, and Hard Seltzers provide a refreshing and trendy option. The convenience and portability of canned Hard Seltzers make them particularly appealing to consumers who are on the go or looking for a lighter alternative to beer or cocktails. In Guyana, the rise of the Hard Seltzer market can also be attributed to local special circumstances. The country has a tropical climate, with warm temperatures year-round. This makes refreshing and light beverages like Hard Seltzers highly appealing to consumers, especially during the hot and humid summer months. Additionally, Guyana has a vibrant tourism industry, with visitors from around the world flocking to its beautiful beaches and natural attractions. Hard Seltzers, with their international appeal and trendy image, are well-positioned to cater to both local and international tourists in Guyana. Underlying macroeconomic factors have also played a role in the development of the Hard Seltzer market in Guyana. The country has experienced steady economic growth in recent years, leading to an increase in disposable income among consumers. This has allowed for greater spending on leisure activities, including dining out and socializing. Hard Seltzers, with their premium positioning and higher price point compared to traditional alcoholic beverages, are seen as a status symbol and a way for consumers to indulge in a more sophisticated drinking experience. In conclusion, the Hard Seltzer market in Guyana is developing due to changing customer preferences, global trends towards healthier drinking options, local special circumstances such as the tropical climate and tourism industry, and underlying macroeconomic factors such as rising disposable income. As these factors continue to drive demand, the Hard Seltzer market in Guyana is expected to grow further 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.