Hard Seltzer - Portugal

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

Customer preferences: Consumers in Portugal 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 conscious consumption, customers are seeking out low-calorie and low-sugar alternatives to traditional alcoholic beverages. Hard Seltzers, with their refreshing and light taste, have emerged as a popular choice among health-conscious consumers in Portugal.

Trends in the market: One of the key trends in the Hard Seltzer market in Portugal is the introduction of a wide variety of flavors. Manufacturers are constantly innovating and launching new flavors to cater to diverse consumer preferences. From classic fruit flavors like citrus and berry to more unique combinations such as cucumber and mint, the market offers a range of options to suit different tastes. Another trend in the market is the increasing presence of local and craft brands. While international brands initially dominated the market, local players have been quick to recognize the growing demand for Hard Seltzers and have started producing their own offerings. This trend has not only increased competition but has also given consumers more choices and a sense of pride in supporting local businesses.

Local special circumstances: Portugal's warm climate and vibrant beach culture have played a significant role in the rise of the Hard Seltzer market. The refreshing and light nature of Hard Seltzers makes them an ideal choice for consumers looking for a drink to enjoy during hot summer days or while relaxing at the beach. The convenience of canned packaging also makes it easy for consumers to take Hard Seltzers with them on outdoor activities. Additionally, the increasing popularity of social media platforms and influencer marketing has contributed to the growth of the Hard Seltzer market in Portugal. Influencers and celebrities often promote Hard Seltzers as a trendy and fashionable choice, further driving consumer interest and demand.

Underlying macroeconomic factors: The growing economy in Portugal has provided consumers with more disposable income, allowing them to explore new and premium beverage options. As consumers become more willing to spend on higher-quality products, the demand for Hard Seltzers has increased. Furthermore, the COVID-19 pandemic has also influenced the Hard Seltzer market in Portugal. The restrictions on social gatherings and closures of bars and restaurants have led consumers to seek alternative ways to enjoy alcoholic beverages. The convenience of purchasing Hard Seltzers from retail stores or online platforms has made them a popular choice for at-home consumption. In conclusion, the Hard Seltzer market in Portugal is thriving due to customer preferences for healthier beverage options, the introduction of a variety of flavors, the presence of local and craft brands, the country's warm climate and beach culture, the influence of social media and influencer marketing, and the underlying macroeconomic factors of a growing economy and the impact of the COVID-19 pandemic.

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.