Hard Seltzer - Ireland

The Hard Seltzer market in Ireland has been experiencing significant growth in recent years.

Customer preferences: One of the key reasons for the growth of the Hard Seltzer market in Ireland is the changing preferences of consumers. With a rising health consciousness among consumers, there has been a shift towards low-calorie and low-sugar alcoholic beverages. Hard Seltzers, which are typically low in calories and contain natural flavors, have gained popularity among health-conscious consumers who are looking for a lighter alternative to traditional alcoholic beverages. Additionally, the refreshing and fruity flavors of Hard Seltzers have also appealed to younger consumers who are seeking new and innovative drinking options.

Trends in the market: The increasing demand for Hard Seltzers in Ireland can be attributed to several trends in the market. Firstly, there has been a growing trend towards moderation in alcohol consumption, with consumers seeking lighter and more refreshing options. Hard Seltzers, with their lower alcohol content and lighter taste, align well with this trend. Secondly, the rise of social media and influencer culture has played a significant role in promoting Hard Seltzers as a trendy and fashionable drink choice. The visually appealing packaging and branding of Hard Seltzer products have made them popular among the younger demographic who are influenced by social media trends. Lastly, the convenience factor has also contributed to the growth of the Hard Seltzer market in Ireland. The ready-to-drink nature of Hard Seltzers makes them a convenient option for on-the-go consumption, especially in outdoor settings such as picnics, festivals, and beach outings.

Local special circumstances: Ireland, known for its vibrant pub culture, has also witnessed a shift in consumer behavior. While traditional alcoholic beverages like beer and whiskey still hold a significant place in Irish culture, there is a growing interest in exploring new and different drink options. Hard Seltzers, with their unique flavors and lighter taste, have found a niche in the Irish market, appealing to consumers who are open to trying new and innovative beverages. Furthermore, the increasing popularity of Hard Seltzers in Ireland can also be attributed to the presence of international brands that have entered the market, offering a wide range of flavors and options to consumers.

Underlying macroeconomic factors: The growth of the Hard Seltzer market in Ireland is also influenced by underlying macroeconomic factors. The country's strong economic growth and rising disposable incomes have contributed to an increase in consumer spending on alcoholic beverages. Additionally, the changing demographics in Ireland, with a younger population that is more open to experimentation and new experiences, have created a favorable market environment for the growth of the Hard Seltzer market. Moreover, the increasing focus on sustainability and environmental consciousness has also played a role in the popularity of Hard Seltzers, as they are often perceived as a more eco-friendly alternative to traditional alcoholic beverages. In conclusion, the Hard Seltzer market in Ireland has experienced significant growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for low-calorie and refreshing alcoholic beverages, coupled with the influence of social media and the convenience factor, has driven the popularity of Hard Seltzers among Irish consumers. With the continued growth of the health-conscious and environmentally conscious consumer segments, the Hard Seltzer market in Ireland is expected to further expand in the coming years.

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.