Updated Oct 4, 2022 17:35

Spirits And Liqueurs Market in Croatia

Market Overview
The Croatian spirits and liqueurs market soared to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a buoyant expansion. Spirits and liqueurs consumption peaked at $ in 2019; however, from to , consumption stood at a somewhat lower figure.

In value terms, spirits and liqueurs production skyrocketed to $ in estimated in export price. In general, production continues to indicate tangible growth. Over the period under review, production hit record highs at $ in 2019; however, from to , production failed to regain momentum.


Consumption
In , the amount of spirits, liqueurs and other spirituous beverages consumed in Croatia expanded modestly to litres, rising by % on the previous year's figure. Overall, consumption saw a buoyant increase. Spirits and liqueurs consumption peaked at litres in 2019; however, from to , consumption stood at a somewhat lower figure.

The revenue of the spirits and liqueurs market in Croatia expanded to $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded resilient growth. Over the period under review, the market hit record highs at $ in 2019; however, from to , consumption stood at a somewhat lower figure.


Market Forecast
Driven by increasing demand for spirits and liqueurs in Croatia, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to litres by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Spirits and liqueurs market in Croatia consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Croatia remains a net importer of spirits and liqueurs; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of litres, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.