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Learn moreSep 2020
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Due to the outbreak of Coronavirus (COVID-19) in 2020, alcoholic drinks is expected to experience a slump in the short to medium term. The closure of foodservice establishments and residual channel restrictions and the loss of tourism, large summer festivals and popular Budapest nightlife have removed key consumption occasions in the on-trade channel.
As of 10 May 2020, Hungary had seen around 410 deaths due to COVID-19 and 3,300 cases. The Hungarian government launched its official COVID-19 webpage and Facebook page on 4 March, the same day as the first cases were announced in the country.
The premiumisation trend continued to develop in alcoholic drinks in 2019, as selections and availability expanded and consumers enjoyed improving purchasing power. Nonetheless, manufacturers and retailers continued to use discounting and special offers and promotions to foster demand across categories.
Alcoholic drinks categories continued to be led by international companies in 2019. These players used their higher resources to invest in production, distribution, new product launches and large-scale marketing and promotional campaigns.
While alcoholic drinks is experiencing a slump in 2020, with the shift to the off-trade channel unable to offset the high damage to the on-trade channel caused by COVID-19, total volume and value (at constant 2019 prices) sales are expected to return to positive growth as early as 2020/2021 across categories. Rather than stop drinking, consumers shifted to the off-trade channel, following closures of on-trade establishments and the cancellation of key consumption drivers like summer festivals and sports events.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Alcoholic Drinks industry in Hungary with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Alcoholic Drinks industry in Hungary, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Hungary for free:
The Alcoholic Drinks in Hungary market research report includes:
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This industry report originates from Passport, our Alcoholic Drinks market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.