The alcohol market will continue to grow
The Hungarian alcohol market is expected to increase its revenue continuously over the upcoming years and reach 2.56 billion dollars by 2028, indicating a 29-percent growth compared to 2023. Beer has been the highest-performing segment of alcoholic beverages in terms of revenue; however, it is expected to develop at a slower pace compared to wine and spirits, which are forecast to increase in revenue by 49 and 31 percent until 2028, respectively. When it comes to the spirits market, liqueurs and other spirits account for the largest share of the revenue and they are expected to remain the dominant segment.Rich history of wine production
Hungary became one of Europe's most prominent exporters of wine already in the Middle Ages, owing to its famous wine regions such as Tokaj, Eger, and Villány. In 2023, Slovakia and Germany were the leading importers of Hungarian wine, recording import values of 26 million and 18 million euros, respectively. The overall wine production volume has been steady over the past years, totaling 2.5 million hectoliters in 2023, with the largest share originating from Kunság, Hungary’s most lucrative wine region. However, Eger and Villány, the regions known for producing some of the country’s most beloved wines, have recorded the lowest production volumes since 2019. Wine consumption preferences have also been changing in recent years, with sweet wines like Tokaji losing their popularity and lighter, fruitier wines gaining ground.Despite the robust growth expected in Hungary’s wine and spirits market, beer is not likely to lose its popularity in the future. On the contrary, per capita beer consumption is forecast to increase in Hungary year-over-year until 2028.
