Wine - Myanmar

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

Customer preferences: Myanmar has traditionally been a beer-drinking country, with a strong preference for locally brewed beers. However, there has been a shift in consumer preferences towards wine, particularly among the younger generation and urban middle class. Wine is increasingly seen as a symbol of sophistication and social status, and consumers are becoming more open to experimenting with different types and flavors of wine.

Trends in the market: One of the key trends in the wine market in Myanmar is the growing demand for imported wines. As the country opens up to the global market and international trade, consumers are gaining exposure to a wider range of wine options from different countries. This has led to an increase in imports of wines from traditional wine-producing regions such as Europe and the Americas. Another trend in the market is the rise of wine bars and specialized wine shops. These establishments cater to the growing demand for wine and provide a platform for consumers to explore and learn about different varieties and brands. Wine tastings and educational events are also becoming more common, further fueling the interest in wine among consumers.

Local special circumstances: Myanmar's wine market is also influenced by local special circumstances. The country has a rich cultural heritage and a strong emphasis on hospitality. Wine is often associated with celebrations, special occasions, and fine dining experiences. As the tourism industry in Myanmar continues to grow, there is an increasing demand for wine from both domestic and international tourists. This has created opportunities for wine producers and retailers to cater to this specific market segment.

Underlying macroeconomic factors: The growing wine market in Myanmar can be attributed to several underlying macroeconomic factors. The country has been experiencing rapid economic growth, which has led to an increase in disposable income and a rising middle class. As people's purchasing power increases, they are more willing to spend on luxury goods such as wine. Additionally, urbanization and changing lifestyles have also contributed to the growth of the wine market, as consumers seek new experiences and products. In conclusion, the wine market in Myanmar is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances. The increasing demand for imported wines, the rise of wine bars and specialized shops, and the influence of local cultural traditions and tourism are all contributing to the development of the market. Furthermore, underlying macroeconomic factors such as economic growth and urbanization are also driving the growth of the wine 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.