Bottled Water - Bosnia and Herzegovina

The Bottled Water market in Bosnia and Herzegovina has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Bosnia and Herzegovina have shifted towards healthier lifestyles and increased awareness of the importance of hydration. Bottled water provides a convenient and easily accessible source of hydration for consumers on the go. Additionally, concerns about water quality and safety have also driven demand for bottled water, as consumers perceive it to be a safer alternative to tap water. Trends in the market reflect the growing demand for bottled water in Bosnia and Herzegovina. There has been an increase in the number of brands and product varieties available, catering to different consumer preferences. This includes flavored and functional waters, as well as premium and luxury bottled water options. The market has also seen a rise in the popularity of eco-friendly packaging, with more companies offering recyclable and biodegradable bottles. Local special circumstances in Bosnia and Herzegovina have also played a role in the development of the bottled water market. The country's geography, with its numerous rivers and natural springs, provides an abundant source of water for bottling. This has led to the establishment of local bottling plants, creating employment opportunities and contributing to the local economy. Additionally, the country's tourism industry has also contributed to the growth of the bottled water market, as tourists often prefer to consume bottled water for safety and convenience reasons. Underlying macroeconomic factors have further supported the growth of the bottled water market in Bosnia and Herzegovina. Economic stability and rising disposable incomes have increased consumer purchasing power, allowing for greater spending on non-essential items such as bottled water. Additionally, changing demographics, such as an aging population and increasing urbanization, have also contributed to the growing demand for bottled water. In conclusion, the Bottled Water market in Bosnia and Herzegovina has experienced significant growth due to customer preferences for healthier lifestyles, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumer awareness and demand continue to rise, it is expected that the market will continue to expand in the coming years.

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.