Cider, Perry & Rice Wine - Asia

The Cider, Perry & Rice Wine market in Asia is experiencing significant growth and development.

Customer preferences: In recent years, there has been a growing trend of consumers in Asia seeking out alternative alcoholic beverages to traditional beer and spirits. This shift in consumer preferences is driven by a desire for more diverse and unique flavors, as well as a growing interest in healthier and more natural products. Cider, Perry, and Rice Wine offer consumers a refreshing and light alternative to other alcoholic beverages, making them increasingly popular choices among Asian consumers.

Trends in the market: One of the key trends in the Cider, Perry & Rice Wine market in Asia is the increasing demand for locally-produced products. Consumers are becoming more interested in supporting local businesses and are seeking out products that are made using locally-sourced ingredients. This trend is particularly strong in countries such as Japan and South Korea, where there is a strong emphasis on traditional and artisanal production methods. Another trend in the market is the growing popularity of flavored and infused varieties of Cider, Perry, and Rice Wine. Manufacturers are constantly innovating and introducing new flavors and ingredients to cater to the changing tastes of consumers. This trend is particularly evident in countries like China and Thailand, where consumers are increasingly looking for unique and exotic flavors.

Local special circumstances: In countries like Japan and South Korea, there is a long-standing tradition of consuming Rice Wine, which has contributed to the growth of the market in these countries. Rice Wine is deeply ingrained in the local culture and is often consumed during special occasions and celebrations. This cultural significance has helped to drive demand for Rice Wine and has created a strong market for it in these countries. In addition, the increasing popularity of cider and perry in countries like China and India can be attributed to the growing influence of Western culture. As these countries become more globalized, there is a greater exposure to Western food and beverage trends, leading to an increased demand for products like cider and perry.

Underlying macroeconomic factors: The economic growth and rising disposable incomes in many Asian countries have also contributed to the development of the Cider, Perry & Rice Wine market. As consumers become more affluent, they are willing to spend more on premium and higher-priced products, which has created opportunities for manufacturers to introduce more premium and artisanal offerings in the market. Furthermore, the increasing urbanization and changing lifestyles in Asia have also played a role in the growth of the market. As more people move to cities and adopt busier lifestyles, there is a greater demand for convenient and ready-to-drink alcoholic beverages. Cider, Perry, and Rice Wine, with their refreshing and easy-to-consume nature, are well-suited to meet this demand. Overall, the Cider, Perry & Rice Wine market in Asia is experiencing significant growth and development due to changing consumer preferences, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, manufacturers will need to continue innovating and adapting to meet the evolving needs and tastes of consumers in the region.

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.