The Slovak Republic market accounts for nearly 2% of the Eastern European brandy market size. The market registered a compound annual growth rate (CAGR) of -0.5% during 2017-22 and -2.43% decline over 2021. According to GlobalData’s deep-dive analysis report, Slovak Republic brandy market databook, fruit brandy accounted for a notable share of 77% among various brandy segments in the market in 2022, followed by other grape brandy. The report also provides in-depth analysis and market forecast to 2027. Buy the report here.
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According to GlobalData’s company and brand analysis, Asbach, Gonzalez Byass and Bottega held significant shares in the Slovak Republic brandy market in 2022. Concurrently, Asbach – Uralt, Alexander and Gonzalez Byass led in terms of brand market share. Asbach had the leading market share by volume in 2022. Companies operating in the Slovak Republic brandy market continue to use innovation to target gaps in product offering. Continuous tracking of market size and company performance is important to help competitors capture and maximize profits.
GlobalData’s channel analysis reveals that hypermarkets & supermarkets were the key channel of purchase for brandy, along with food & drinks specialists. Also, on trade recorded a notable growth during the COVID-19 pandemic, as consumers were forced to stay at home due to restricted movement opportunities.
Hypermarkets & supermarkets constituted the highest market share by volume in 2022. Consumers preferred this channel for its product assortment and competitive pricing. Food & drinks specialists was the next preferred channel in the Slovak Republic market.
Among the top Eastern European markets, Romania accounted for the highest volume share in 2022, followed by the Ukraine, Slovak Republic, Hungary, the Czech Republic, and Poland.
With a growing number of consumers seeking to experiment with novel products, manufacturers and brands need to constantly innovate their flavours and formulations to remain relevant and competitive. Additionally, the popularity of e-commerce has made it easier for shoppers to compare product features and offerings across different brands.
To further understand and explore GlobalData’s insight into the brandy category and market forecast to 2027, buy the report here.
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