Consumer sentiment keeps on improving thanks to macroeconomic growth, declining unemployment and rising real incomes. Hungarians are spending more on indulgence and entertainment.
The Hungarian government continued to support craft beer, traditional wine making and the local spirit speciality pálinka by reducing the tax and administrative burden on individuals and small enterprises, and through wide-scale marketing campaigns to popularise consumption of quality domestic products. Tourist regions and associations organised numerous events, festivals, gastronomy weeks and competitions.
Alcoholic drinks sales are led by international companies across all categories, and further concentration of sales is expected due to their financial power, allowing investments in production facilities and large-scale marketing campaigns. Running a distribution network that spans all off-trade and on-trade channels is crucial to increasing sales.
In 2018 on-trade value sales of alcoholic drinks performed better than off-trade, while only moderate growth was achieved in volume terms. The on-trade seems to be growing mainly due to the widening of the market, but this is not reflected in real growth in consumption.
The alcoholic drinks market is expected to see continued growth as the economic outlook remains positive, with rising purchasing power over the forecast period. Volume sales are predicted to exceed pre-crisis volume levels thanks to the excellent performance of beer, although the recovery of spirits consumption will be hindered by high taxes and steep price increases.
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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.
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This industry report originates from Passport, our Alcoholic Drinks market research database.