Alcoholic Drinks

The Alcoholic Drinks 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 shift in customer preferences towards premium and craft alcoholic drinks. Consumers are increasingly seeking out unique and high-quality products, and are willing to pay a premium for them. This trend is reflected in the growing demand for craft beers, artisanal spirits, and small-batch wines. Additionally, there is a growing interest in organic and locally-produced alcoholic drinks, as consumers prioritize sustainability and supporting local businesses.

Trends in the market: One of the key trends in the Danish Alcoholic Drinks market is the rise of low and non-alcoholic beverages. Health-conscious consumers are increasingly looking for alternatives to traditional alcoholic drinks, and this has led to the development of a wide range of low and non-alcoholic options. This trend is particularly prominent among younger consumers, who are seeking out innovative and flavorful alternatives that offer the same social experience as alcoholic drinks. Another trend in the market is the growing popularity of online sales and home delivery. With the rise of e-commerce platforms and the convenience of online shopping, more consumers are choosing to purchase their alcoholic drinks online. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors. As a result, both traditional retailers and producers are investing in their online presence and delivery capabilities to cater to this growing demand.

Local special circumstances: Denmark has a strong drinking culture, with a high per capita consumption of alcoholic drinks. However, the Danish government has implemented strict regulations and high taxes on alcohol in order to discourage excessive consumption and promote public health. These regulations have had a significant impact on the market, leading to higher prices and a focus on quality rather than quantity. Additionally, the government has also implemented measures to promote responsible drinking, such as awareness campaigns and restrictions on advertising.

Underlying macroeconomic factors: The Danish economy has been relatively stable in recent years, with a high level of disposable income and a strong consumer base. This has contributed to the growth of the Alcoholic Drinks market, as consumers have the means to spend on premium and high-quality products. Additionally, Denmark is known for its strong food and beverage culture, which has created a favorable environment for the development of the Alcoholic Drinks market. The country's reputation for innovation and craftsmanship has also played a role in the growth of the market, as consumers are willing to try new and unique products. Overall, the Alcoholic Drinks market in Denmark is expected to continue growing in the coming years, driven by changing consumer preferences and a favorable economic environment.

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.