Bottled Water - Guatemala

The Bottled Water market in Guatemala has been experiencing significant growth in recent years. Customer preferences for convenience and health-consciousness have been driving this trend. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market. Customer preferences in Guatemala have been shifting towards bottled water due to its convenience and perceived health benefits. Bottled water provides a portable and easily accessible source of hydration for consumers on the go. With the increasing urbanization and busy lifestyles in Guatemala, consumers are seeking convenient options for staying hydrated, and bottled water fits the bill. Furthermore, there is a growing awareness among consumers about the potential health risks associated with tap water, leading them to opt for the safer alternative of bottled water. Trends in the market also indicate a growing preference for premium and flavored bottled water. As consumers become more health-conscious, they are willing to pay a premium for products that offer additional benefits such as enhanced hydration or natural flavors. This trend is further fueled by the influence of global health and wellness trends, as consumers in Guatemala seek to align themselves with international standards of health and wellness. Local special circumstances in Guatemala have also played a role in the development of the Bottled Water market. The country's hot and humid climate makes it essential for residents to stay hydrated throughout the day. This creates a high demand for bottled water, especially during the summer months when temperatures soar. Additionally, Guatemala has a growing tourism industry, attracting visitors from around the world. Tourists often prefer to consume bottled water as a precautionary measure against waterborne diseases and to ensure their own health and safety. Underlying macroeconomic factors have further supported the growth of the Bottled Water market in Guatemala. The country has been experiencing steady economic growth, leading to an increase in disposable income among the population. As a result, consumers have more purchasing power and are willing to spend on premium products such as bottled water. Furthermore, the expanding middle class in Guatemala has also contributed to the growth of the market, as this segment of the population is more likely to prioritize health and wellness. In conclusion, the Bottled Water market in Guatemala has been developing due to customer preferences for convenience and health-consciousness, as well as local special circumstances and underlying macroeconomic factors. As these trends continue to shape consumer behavior, the market is expected to continue growing 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.