Wine - Denmark

The Wine market in Denmark has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Denmark, there has been a growing trend towards wine consumption, with an increasing number of people choosing wine as their preferred alcoholic beverage. This can be attributed to several factors, including a shift towards healthier lifestyles and a growing interest in wine culture. Danish consumers are becoming more knowledgeable about different wine varieties and are willing to explore new flavors and regions. As a result, there has been a rise in demand for a wide range of wines, including both red and white varieties, as well as sparkling wines and rosés.

Trends in the market: One of the key trends in the Danish wine market is the increasing popularity of organic and biodynamic wines. Danish consumers are becoming more conscious of their environmental impact and are actively seeking out products that are produced sustainably. This has led to a growing demand for wines that are made from organically grown grapes and produced using environmentally friendly practices. In response to this trend, both domestic and international wine producers have been expanding their offerings of organic and biodynamic wines in the Danish market. Another trend in the Danish wine market is the rise of online sales. With the increasing use of e-commerce platforms, more and more consumers are choosing to purchase wine online. This provides them with a convenient way to explore a wide selection of wines from around the world and have them delivered directly to their doorstep. Online wine retailers have also been able to offer competitive prices and discounts, attracting price-conscious consumers. This trend has further fueled the growth of the wine market in Denmark.

Local special circumstances: Denmark has a relatively high level of disposable income and a strong economy, which has contributed to the growth of the wine market. Danish consumers are willing to spend more on premium wines and are increasingly seeking out unique and high-quality products. This has created opportunities for both domestic and international wine producers to cater to this demand and introduce new and exclusive wines to the market.

Underlying macroeconomic factors: The Danish wine market has also been influenced by macroeconomic factors such as population growth and changing demographics. Denmark has seen a steady increase in its population, which has resulted in a larger consumer base for the wine market. Additionally, the country has experienced an aging population, with older consumers often having a higher disposable income and a greater interest in wine consumption. These factors have contributed to the overall growth and development of the wine market in Denmark. In conclusion, the Wine market in Denmark is experiencing growth due to changing customer preferences, including a shift towards healthier lifestyles and a growing interest in wine culture. The market is also influenced by trends such as the increasing popularity of organic and biodynamic wines, as well as the rise of online sales. Local special circumstances, such as high disposable income and a strong economy, further contribute to the growth of the wine market.

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.