Bottled Water - Dominican Republic

The Bottled Water market in Dominican Republic has been experiencing significant growth in recent years. Customer preferences for bottled water have shifted towards healthier beverage options, leading to an increased demand for bottled water in the country.

Customer preferences: Customer preferences in Dominican Republic have been shifting towards healthier beverage options. Bottled water is seen as a healthier alternative to sugary drinks, which have been linked to various health issues such as obesity and diabetes. As a result, consumers are increasingly choosing bottled water as their beverage of choice. Additionally, the convenience and portability of bottled water make it a popular choice for on-the-go consumption.

Trends in the market: One of the key trends in the Bottled Water market in Dominican Republic is the growing popularity of premium and flavored bottled water. Consumers are willing to pay a premium for bottled water that offers additional benefits such as enhanced flavors or added vitamins and minerals. This trend is driven by the desire for a more enjoyable and refreshing drinking experience. Another trend in the market is the increasing focus on sustainability and eco-friendly packaging. Consumers are becoming more environmentally conscious and are looking for bottled water brands that use recyclable materials and have a low carbon footprint. This trend is driven by the growing concern for the environment and the desire to reduce plastic waste.

Local special circumstances: Dominican Republic is known for its hot and tropical climate, which makes bottled water a necessity for many residents and tourists. The demand for bottled water is high throughout the year, especially during the summer months when temperatures can reach extreme levels. This special circumstance creates a constant and steady demand for bottled water in the country.

Underlying macroeconomic factors: The growing economy of Dominican Republic has contributed to the development of the Bottled Water market. As disposable incomes rise, consumers have more purchasing power and are able to afford bottled water on a regular basis. Additionally, the tourism industry in the country has been booming, attracting a large number of international visitors who also contribute to the demand for bottled water. In conclusion, the Bottled Water market in Dominican Republic is developing due to changing customer preferences towards healthier beverages, the popularity of premium and flavored bottled water, the focus on sustainability and eco-friendly packaging, the special circumstances of the country's hot and tropical climate, and the underlying macroeconomic factors such as the growing economy and tourism industry.

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.