The spirits market requires a period of relative calm after the hectic years of the COVID-19 pandemic and the high inflation rates experienced in 2022 and 2023 in order to resume its growth trajectory and continue driving towards more premium, higher-quality products. Indeed, justifying further price increases and managing the burden of heightened expenses, both in off-trade and on-trade channels, will prove to be challenging, even in the most optimistic scenario.
The spirits market is becoming increasingly diverse across the entire spectrum of assortment. Previously, private labels, predominantly imported by discounters, used to cater mostly to the needs of budget conscious customers with inexpensive spirits.
To navigate the delicate balance between maintaining sales while addressing the high rate of alcoholism, spirits manufacturers – as with the whole alcoholic beverages industry - should prioritise responsible consumption initiatives. Firstly, they can invest in comprehensive educational campaigns aimed at promoting moderate drinking habits and raising awareness about the risks of alcohol abuse.
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Understand the latest market trends and future growth opportunities for the Spirits industry in Hungary with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Spirits
This is the aggregation of whisk(e)y, brandy and Cognac, white spirits, rum, tequila, liqueurs and other spirits.
See All of Our DefinitionsThis report originates from Passport, our Spirits research and analysis database.
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