Bottled Water - Georgia

The Bottled Water market in Georgia has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth in the Bottled Water market in Georgia is the increasing consumer preference for healthier beverage options. As people become more health-conscious, they are looking for alternatives to sugary drinks and are turning to bottled water as a healthier choice. Additionally, the convenience factor of bottled water, especially for on-the-go consumption, has also contributed to its popularity among consumers.

Trends in the market: One of the key trends in the Bottled Water market in Georgia is the rise in demand for premium and flavored bottled water. Consumers are willing to pay a premium for bottled water that offers added benefits such as enhanced flavors or additional minerals. This trend can be attributed to the growing disposable income and changing consumer preferences for more unique and indulgent beverage options. Another trend in the market is the increasing popularity of eco-friendly packaging options. Consumers are becoming more conscious of the environmental impact of plastic bottles and are actively seeking out brands that offer sustainable packaging solutions. This has led to the emergence of brands that use recycled materials or alternative packaging options such as biodegradable bottles.

Local special circumstances: Georgia's unique geography and climate play a role in the development of the Bottled Water market. The country is known for its natural mineral springs, which are believed to have therapeutic properties. This has led to the production of mineral water brands that capitalize on the country's natural resources and attract both domestic and international consumers. Furthermore, Georgia has a strong tradition of hospitality and a culture of offering guests water as a sign of welcome. This cultural aspect has also contributed to the popularity of bottled water in the country, as it is seen as a symbol of hospitality and good manners.

Underlying macroeconomic factors: The growth in the Bottled Water market in Georgia can also be attributed to the overall economic development of the country. As the economy continues to grow, consumers have more disposable income to spend on discretionary items such as bottled water. Additionally, the increasing urbanization and changing lifestyles of the population have led to a greater demand for convenient and on-the-go beverage options, further fueling the growth of the market. In conclusion, the Bottled Water market in Georgia is experiencing growth due to the increasing consumer preference for healthier beverage options, the rise in demand for premium and flavored bottled water, the popularity of eco-friendly packaging options, the country's unique geography and culture, and the overall economic development of the country.

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.