Hard Seltzer - Hungary

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

Customer preferences: Hungarian consumers are increasingly drawn to healthier beverage options and are actively seeking low-calorie and low-sugar alternatives. This shift in consumer preferences has led to a growing demand for Hard Seltzers, which are known for their lower calorie and sugar content compared to traditional alcoholic beverages. Additionally, the younger generation in Hungary is particularly interested in trying new and innovative products, making them more receptive to the introduction of Hard Seltzers in the market.

Trends in the market: One of the key trends in the Hard Seltzer market in Hungary is the expansion of product offerings. As the demand for Hard Seltzers continues to rise, both local and international brands are introducing a wide range of flavors and variations to cater to different consumer preferences. This trend is driven by the desire to capture a larger market share and differentiate themselves from competitors. Additionally, collaborations between Hard Seltzer brands and local influencers or celebrities are becoming increasingly common, further boosting the popularity of these beverages among consumers.

Local special circumstances: Hungary has a vibrant drinking culture, with a strong tradition of consuming alcoholic beverages. However, there is also a growing awareness of the negative health effects associated with excessive alcohol consumption. This has created a unique opportunity for Hard Seltzers to enter the market as a healthier alternative. Furthermore, Hungary is known for its hot summers, and Hard Seltzers are seen as refreshing and light beverages that are perfect for the warm weather.

Underlying macroeconomic factors: The growing popularity of Hard Seltzers in Hungary can also be attributed to several underlying macroeconomic factors. The country's economy has been steadily improving, leading to an increase in disposable income among consumers. This has allowed them to explore and experiment with new and premium products, including Hard Seltzers. Additionally, the increasing urbanization and Westernization of Hungarian society have resulted in a greater exposure to international trends and influences, including the rising popularity of Hard Seltzers in other markets. In conclusion, the Hard Seltzer market in Hungary is experiencing significant growth and development due to changing customer preferences, the introduction of new product offerings, local special circumstances, and underlying macroeconomic factors. As consumers in Hungary become more health-conscious and seek out innovative beverage options, the demand for Hard Seltzers is expected to continue to rise.

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.