Bottled Water - Armenia

The Bottled Water market in Armenia has been experiencing significant growth in recent years, driven by changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Armenia have shifted towards healthier lifestyles and increased awareness of the importance of staying hydrated. As a result, there has been a growing demand for bottled water as a convenient and portable option for quenching thirst. Consumers are increasingly choosing bottled water over other beverages due to its perceived health benefits and absence of additives or artificial sweeteners. Trends in the market indicate a rising preference for premium and specialty bottled water products. This can be attributed to a growing middle class in Armenia, who are willing to spend more on high-quality and unique products. Premium bottled water brands are leveraging this trend by offering a variety of flavors, mineral compositions, and packaging designs to cater to different consumer preferences. Local special circumstances also play a role in the development of the Bottled Water market in Armenia. The country's geography and climate, with its hot summers and limited access to clean drinking water sources, contribute to the demand for bottled water. Additionally, Armenia's tourism industry has been growing, attracting both domestic and international visitors who often prefer bottled water for safety and convenience reasons. Underlying macroeconomic factors further support the growth of the Bottled Water market in Armenia. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and purchasing power. This has allowed consumers to afford bottled water as a regular part of their daily lives. In conclusion, the Bottled Water market in Armenia is developing due to changing customer preferences towards healthier lifestyles, trends towards premium and specialty products, local special circumstances such as geography and tourism, and underlying macroeconomic factors such as economic growth and increased purchasing power.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.