Hard Seltzer - Peru

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

Customer preferences: Peruvian 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 wellness and a desire for low-calorie and low-sugar alternatives, many consumers are turning to Hard Seltzers as a refreshing and lighter option compared to traditional alcoholic beverages. Additionally, the younger demographic, particularly millennials and Gen Z, are driving the demand for Hard Seltzers due to their preference for trendy and innovative products.

Trends in the market: One of the key trends in the Hard Seltzer market in Peru is the introduction of local flavors and ingredients. Peru is known for its diverse culinary heritage, and this is being reflected in the Hard Seltzer market. Local brands are incorporating traditional Peruvian flavors such as passion fruit, lucuma, and purple corn into their products, appealing to consumers who are seeking a unique and authentic experience. This trend not only caters to the local market but also has the potential to attract international consumers who are interested in exploring new flavors. Another trend in the market is the expansion of distribution channels. Initially, Hard Seltzers were primarily available in bars and restaurants, but they are now increasingly being sold in retail stores and online platforms. This wider availability has made Hard Seltzers more accessible to consumers, leading to increased consumption and market growth.

Local special circumstances: Peru's growing tourism industry has also played a role in the development of the Hard Seltzer market. As more international tourists visit Peru, there is a demand for familiar and trendy alcoholic beverages. Hard Seltzers, with their light and refreshing profile, are well-suited to meet this demand. Additionally, the tourism industry has provided an opportunity for local brands to showcase their products to a wider audience, both domestic and international.

Underlying macroeconomic factors: The overall economic growth in Peru has contributed to the development of the Hard Seltzer market. As disposable incomes rise, consumers have more purchasing power and are willing to spend on premium and innovative products like Hard Seltzers. Furthermore, the increasing urbanization and modernization of Peru's cities have created a conducive environment for the growth of the beverage industry, including the Hard Seltzer segment. In conclusion, the Hard Seltzer market in Peru is experiencing significant growth due to changing consumer preferences, the introduction of local flavors, expanding distribution channels, the influence of the tourism industry, and favorable macroeconomic factors. As the market continues to evolve, it is expected that more brands will enter the market and further innovation will take place to cater to the diverse preferences of Peruvian consumers.

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.