Bottled Water - Finland

The Bottled Water market in Finland has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Finland, there has been a shift in customer preferences towards healthier and more convenient beverage options. Bottled water is seen as a healthier alternative to sugary drinks, and the increasing awareness about the importance of hydration has also contributed to the growing demand for bottled water. Additionally, the convenience factor of bottled water, especially for on-the-go consumption, has made it a popular choice among consumers.

Trends in the market: One of the key trends in the Bottled Water market in Finland is the increasing demand for flavored and functional waters. Consumers are looking for more variety and unique flavors in their bottled water choices, and companies have responded by introducing a wide range of flavored and functional waters, such as infused waters with fruit flavors or added vitamins and minerals. This trend has helped to attract a wider consumer base and drive the growth of the market. Another trend in the market is the rising popularity of premium and sustainable bottled water options. Consumers are willing to pay a premium for high-quality and environmentally friendly bottled water products. This has led to the emergence of premium bottled water brands that focus on offering unique and sustainable packaging options, such as glass bottles or biodegradable materials. These brands often highlight their commitment to environmental sustainability, which resonates with the environmentally conscious Finnish consumers.

Local special circumstances: Finland's abundance of natural resources, including its pristine lakes and rivers, has played a significant role in the development of the Bottled Water market. The country is known for its high-quality tap water, which has led to a preference for clean and pure bottled water options. Finnish consumers value the purity and taste of bottled water, and this has created a favorable market environment for both domestic and international bottled water brands.

Underlying macroeconomic factors: The strong economy and high disposable income levels in Finland have also contributed to the growth of the Bottled Water market. As consumers have more spending power, they are willing to invest in premium and healthier beverage options, including bottled water. Additionally, the tourism industry in Finland has been growing steadily, attracting visitors from around the world who often prefer to consume bottled water during their stay. This has further fueled the demand for bottled water in the country. Overall, the Bottled Water market in Finland is driven by changing customer preferences towards healthier and more convenient beverage options, as well as local special circumstances such as the country's abundance of natural resources. The market is expected to continue growing as consumers seek out more variety, premium options, and sustainable packaging in their bottled water choices.

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.