Spirits - Myanmar

The Spirits market in Myanmar has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in Myanmar have shifted towards premium and high-quality spirits, as consumers become more discerning and willing to spend on luxury products. This trend is influenced by the increasing middle class in the country, who have higher disposable incomes and a desire for aspirational lifestyles. As a result, there has been a growing demand for imported spirits, particularly whisky and vodka, which are seen as symbols of status and sophistication. Trends in the market also play a role in the development of the Spirits market in Myanmar. One notable trend is the rise of craft spirits, which are gaining popularity among consumers who appreciate unique flavors and the artisanal production process. This trend is driven by the desire for authenticity and a connection to the local culture and heritage. Craft distilleries are emerging in Myanmar, producing spirits using traditional methods and locally sourced ingredients, which appeals to consumers looking for a distinct and authentic experience. Another trend in the market is the increasing demand for flavored spirits, such as flavored vodka and fruit-infused liqueurs. These products cater to consumers who are looking for new and exciting flavors, and they are often used in cocktails and mixed drinks. The popularity of flavored spirits is also influenced by the growing cocktail culture in Myanmar, with more bars and restaurants offering creative and innovative drink options. Local special circumstances also contribute to the development of the Spirits market in Myanmar. The country has a rich tradition of alcohol consumption, with spirits playing a significant role in social and cultural events. This cultural acceptance of spirits creates a favorable environment for the growth of the market. Additionally, the relaxation of regulations on alcohol advertising and promotion has allowed spirits brands to increase their visibility and reach a wider audience. Underlying macroeconomic factors further support the growth of the Spirits market in Myanmar. The country's economy has been growing steadily in recent years, with rising incomes and improving living standards. This economic development has led to an increase in consumer spending power, enabling more people to afford premium spirits. Furthermore, the tourism industry in Myanmar has been expanding, attracting a growing number of international visitors who contribute to the demand for spirits. In conclusion, the Spirits market in Myanmar is experiencing growth due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. As consumers become more discerning and willing to spend on premium products, there is a growing demand for imported spirits and craft spirits. Flavored spirits also appeal to consumers looking for new and exciting flavors. The cultural acceptance of spirits and the relaxation of regulations on alcohol advertising create a favorable environment for the market. The country's growing economy and expanding tourism industry further support the development of the Spirits market in Myanmar.

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.