Azerbaijan

This report assesses the business environment in Azerbaijan, focusing on the regulatory environment, stability of the financial system, FDI intake, labour market flexibility and skillset, trade openness, mobility infrastructure, ICT adoption and…

In 2022, the recovery from COVID-19 as well as from the political events of 2020 continued to be seen in alcoholic drinks in Azerbaijan. A strong recovery in the tourism industry as COVID-19 restrictions were eased and then completely lifted…

In 2022, beer showed a positive trend, with total volume sales recording a modest increase, driven by a strong performance in the on-trade. The recovery of the market due to the restoration of tourist flows as well as a generally more stable…

Cider/perry posted only marginally positive growth in 2022 as its recovery after the steep decline seen in sales in 2020 seemed to run out of steam. Following the double-digit decline in 2020, cider/perry showed a modest rebound in volume sales terms…

RTDs continues to be among the smallest alcoholic drinks categories in Azerbaijan, with young adult consumers as its main target audience. Traditionally, the category has been perceived as an affordable way to drink and, in 2022, it received a new…

Vodka continues to be the dominant product area in overall spirits, still accounting for close to 90% of spirits sales in total volume terms in 2022. This means that the dynamics in vodka generally determine the performance of overall spirits, with…

In addition to being a staple at large social gatherings such as weddings and parties, wine is traditionally among the alcoholic drinks most commonly consumed when Azerbaijanis come together with friends and family in smaller numbers in private…

The year 2022 saw significant price increases in baby food leading to a dynamic rise in current value sales, although demand was hampered as a result. As the inflation rate slows somewhat in 2023, current value growth has also abated, although…

Butter and spreads are seeing retail prices fall in 2023, following a period of dynamic price increases in 2022. Current value sales have been pushed into decline as the inflation rate slowed in Azerbaijan and logistical supply chains were adjusted…

Retail price inflation slowed down in 2023 and this had a positive effect on the cheese category, with retail volume sales rising at a steady pace. Still, the cheese category remains import-dependent, a factor that also influences pricing. The war in…