Finland Alcoholics Market to Remain Stable with Growing Wine Popularity: Ken Research
Added: (Wed Sep 13 2017)
Pressbox (Press Release) -
Alcoholic drinks market remains stagnant due to the ongoing sluggish economy and consumers’ strong health awareness in Finland. The market for strong spirits has decreased while the market for lighter beverages such as speciality and craft beer and wine has increased. There have been no restrictions on the store opening hours that encouraged sales of brewery beverages. The alcoholic drinks market in Finland had earlier declined due to the high prices and low purchasing power.
Majority of the consumers prefer alcoholic consumption at home rather than through horeca (Hotel/Restaurant/Cafe) and is the most popular form of socialising in Finland. Due to the ongoing sluggish economy, Finns have opted to save their earnings thus leading to a downfall in the Finnish drinking culture at horeca and also decline in the alcoholic drinks market.
The renewal of alcohol legislation in Finland is anticipated and is bound to impact the alcoholic drinks market, horeca channel, domestic industry as well as import of alcoholic drinks from other countries. The new legislations may boost sales in the alcoholic drinks but there will definitely be a price difference. Finland’s stringent laws are yet to decide an increase or decrease in the growth of the alcoholic drinks market.
According to the report, “Alcoholic Drinks in Finland”, Sinebrychoff, Hartwall, Olvi and Altia are the leading competitors in the alcoholic drinks market in Finland. However, small players have entered the alcoholic drinks market increasing their presence. Craft alcoholic drinks have also witnessed an impressive number of new innovative beer producers, along with small distilleries producing craft spirits such as gin and whiskies. Sinebrychoff Oy Ab is the leading competitor in the beer manufacture with its well-known brands Karhu and Koff. The company has invested a lot in the R&D and launched many new products on a regular basis. The beer manufacture in Finland is more costly than the imported beer from Tallinn.
Cider/perry beverages sales in Finland have declined because many consumers are seen avoiding drinking the sugary, artificial cider products. The cider/perry category saw the introduction of more natural, less sugary and organic products bringing back sales and growth in the market. Finnish consumers are now more interested in natural cider than the artificial products, which resemble the reliable products. Sinebrychoff is the leading competitor in cider/perry market followed by a domestic player Olvi. Sinebrychoff produces popular and well-known cider brand Golden Cap and also imports the international brand Somersby.
Therefore, cider/perry beverage market in Finland will witness a decline in the sales in the coming years due to the emerging natural and organic products and also it has now reached its saturation point and is losing popularity to beer and wine. Alcoholic spirits in Finland have been mature due to its high prices and a change in the country’s drinking culture. Majority of the Finns are switching from strong spirits to lighter options such as beer and wine. Altia Oyj is the leading competitor in the alcoholic spirits in Finland and is a state-owned alcohol producer.
The spirits brand and product selection is excellent, ranging from economy to super-premium offerings. Pernod Ricard Finland Oy, previously known as V&S Finland holds the second position in wine manufacturing. Though, alcoholic spirits market in Finland are sure to decline in the coming years due to high prices, private imports from Estonia and increasing health awareness.
Finland is not a wine drinking nation but alcoholic drinks are slowly evolving. Finns are attracted towards sparkling wine, white, rose wine, and therefore, fruit wine, berry wine and fortified wines have lost their popularity. Elegance and awareness of wine has led to an increase in the consumption of several wine categories such as rose wine and champagne in Finland. Nevertheless, the overall alcoholic drinks category is sure to witness a downfall in the market due to the fact that many categories of wine are already mature and are less popular among Finnish consumers. Therefore, growth of the market is not expected to occur but also, the market would not suffer losses in the future.
Key Factors Considered in the Report
Finland Alcoholic Beverages Market Research Report
Finland Alcoholic Drinks Market Revenue
Finland Beer Industry Trends
Finland Alcoholic Drinks Import Value
Finland Alcoholic Drinks Export Value
Global Alcoholic Beverages Industry Future Outlook
Finland Spirits Industry Analysis
Finland Non Alcoholic Beverages Market Demand
Finland Alcoholic Drinks Manufacturers and Competitors
Finland Alcoholic Beverages Production Volume
To know more about the research report:
Ankur Gupta, Head Marketing & Communications