Alcoholic Drinks - Ireland

The Alcoholic Drinks market in Ireland has been experiencing significant growth in recent years.

Customer preferences: Irish consumers have shown a growing preference for craft beers and spirits, as well as premium and imported wines. This shift in preferences can be attributed to the increasing popularity of craft brewing and distilling, as well as a desire for higher quality and more diverse alcoholic beverages. Additionally, there has been a trend towards healthier living and moderation, leading to an increased demand for low-alcohol and alcohol-free alternatives.

Trends in the market: One of the key trends in the Irish Alcoholic Drinks market is the rise of craft beers and spirits. Craft breweries and distilleries have been popping up across the country, offering unique and innovative products that cater to the growing demand for locally produced beverages. This trend is driven by consumers' desire for authenticity, quality, and supporting local businesses. Another trend in the market is the increasing popularity of premium and imported wines. Irish consumers are becoming more knowledgeable about wine and are willing to explore different regions and grape varieties. This trend is also influenced by a growing dining culture and an increasing number of wine bars and restaurants offering a wide selection of wines.

Local special circumstances: Ireland has a strong drinking culture, with pubs playing a central role in socializing and community life. This cultural tradition has contributed to the demand for alcoholic drinks in the country. Additionally, the tourism industry in Ireland attracts a large number of international visitors, who often seek out traditional Irish pubs and local alcoholic beverages as part of their experience.

Underlying macroeconomic factors: The strong economic growth in Ireland has had a positive impact on the Alcoholic Drinks market. As disposable incomes have increased, consumers have been willing to spend more on premium and higher-priced alcoholic beverages. The growing tourism industry has also contributed to the market growth, as visitors to Ireland often indulge in the local drinking culture and purchase alcoholic drinks as souvenirs. In conclusion, the Alcoholic Drinks market in Ireland is experiencing growth due to changing customer preferences, including a shift towards craft beers and spirits, premium and imported wines, and low-alcohol alternatives. The rise of craft breweries and distilleries, as well as the strong drinking culture and tourism industry in Ireland, further contribute to the market's development. The overall positive macroeconomic factors, such as strong economic growth and increased disposable incomes, also play a significant role in driving the market forward.

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.