In 2023, on-trade volume sales of spirits sales are expected to see a full recovery to pre-pandemic levels, followed by more stable growth during the remainder of the forecast period. Premium spirits in particular are expected to benefit from on-trade volume growth, with consumers generally more likely to consume these products when out socialising.
Elevated inflation and a reduction in disposable income is forecasted to lead to greater price-sensitivity among Serbian consumers, at least during the first half of the forecast period. With budgets being squeezed, consumers are expected to switch to less expensive local brands when shopping for spirits through the off-trade channel, while they will likely also reduce their number of visits to on-trade establishments.
New legislation, such as excise tax growth, and rising production and transportation costs are expected to impact spirits sales during the forecast period. Excise taxes are forecasted to grow in 2023 and beyond which will make these products even more expensive and less accessible, especially to lower income households.
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Understand the latest market trends and future growth opportunities for the Spirits industry in Serbia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Spirits industry in Serbia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty
Spirits
This is the aggregation of whisk(e)y, brandy and Cognac, white spirits, rum, tequila, liqueurs and other spirits.
See All of Our DefinitionsThis report originates from Passport, our Spirits research and analysis database.
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