Bottled Water - Baltics

The Bottled Water market in Baltics has been experiencing significant growth in recent years. Customer preferences for healthier beverage options, increasing disposable incomes, and changing lifestyles have all contributed to the growth of this market. Customer preferences in the Baltics have shifted towards healthier beverage options, with many consumers opting for bottled water over sugary drinks. This trend is driven by a growing awareness of the health risks associated with consuming high amounts of sugar. Bottled water provides a convenient and refreshing alternative, making it a popular choice among health-conscious consumers. In addition, the increasing disposable incomes in the Baltics have allowed consumers to spend more on premium bottled water brands. Consumers are willing to pay a higher price for bottled water that is perceived to be of higher quality or has added benefits such as mineral content or enhanced flavors. This has led to the emergence of a wide range of premium bottled water brands in the market. Changing lifestyles, such as the increasing number of people leading active and on-the-go lifestyles, have also contributed to the growth of the Bottled Water market in Baltics. Bottled water is portable and can be easily consumed anywhere, making it a convenient choice for busy individuals. The rise of e-commerce platforms has further facilitated the accessibility and availability of bottled water, allowing consumers to purchase their preferred brands online and have them delivered to their doorstep. In terms of trends in the market, flavored and functional bottled water products have gained popularity in the Baltics. Flavored water offers consumers a variety of options beyond plain water, while functional water provides additional health benefits such as vitamins, electrolytes, or antioxidants. These products cater to the evolving preferences of consumers who are seeking more than just hydration from their bottled water. Local special circumstances in the Baltics, such as the region's abundant natural resources and the growing popularity of wellness tourism, have also contributed to the growth of the Bottled Water market. The Baltics is known for its pristine natural environment and mineral-rich water sources, which have positioned the region as a source of premium bottled water. Additionally, the increasing number of wellness tourists visiting the Baltics has created a demand for bottled water that is perceived to be pure and of high quality. Underlying macroeconomic factors, such as the stable economic growth and increasing urbanization in the Baltics, have provided a favorable environment for the Bottled Water market to thrive. As the economy continues to grow, more consumers are able to afford bottled water as a regular part of their daily lives. Furthermore, the urbanization trend has led to a higher concentration of consumers in cities, where the demand for bottled water is typically higher due to factors such as convenience and access to clean drinking water. Overall, the Bottled Water market in the Baltics is expected to continue its growth trajectory in the coming years, driven by customer preferences for healthier beverage options, increasing disposable incomes, changing lifestyles, and local special circumstances. As consumers become more health-conscious and seek convenient and refreshing beverage options, the demand for bottled water is likely to remain strong in the Baltics.

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.