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Key regions: India, Nigeria, Vietnam, Australia, United Kingdom
The Bottled Water market in Lithuania has experienced significant growth in recent years, driven by changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
Customer preferences: In Lithuania, there has been a shift in customer preferences towards healthier beverage options. Bottled water is seen as a convenient and refreshing choice, especially for those who are health-conscious and seeking to reduce their consumption of sugary drinks. The increasing awareness of the importance of hydration and the benefits of drinking water has led to a growing demand for bottled water in the country.
Trends in the market: One of the key trends in the bottled water market in Lithuania is the rise of flavored and functional waters. Consumers are looking for more variety and added benefits in their bottled water choices. Flavored waters, such as those infused with fruits or herbs, offer a refreshing twist to traditional water and appeal to those who are looking for a more flavorful option. Additionally, functional waters, which contain added vitamins, minerals, or other health-enhancing ingredients, cater to consumers who are seeking additional health benefits from their bottled water. Another trend in the market is the increasing popularity of premium and natural bottled water. Consumers are willing to pay a premium for higher quality water sourced from natural springs or with unique characteristics. This trend is driven by the perception that premium and natural bottled water offers better taste and higher purity compared to tap water.
Local special circumstances: Lithuania has a relatively high level of tap water quality, which could potentially impact the growth of the bottled water market. However, the convenience and portability of bottled water, especially for on-the-go consumption, still make it an attractive option for many consumers. Additionally, the tourism industry in Lithuania plays a significant role in driving the demand for bottled water, as tourists often prefer the convenience and safety of bottled water when traveling.
Underlying macroeconomic factors: The growing economy in Lithuania has contributed to the development of the bottled water market. As disposable incomes rise, consumers have more purchasing power and are willing to spend on premium and healthier beverage options. Furthermore, the increasing urbanization and busy lifestyles in Lithuania have led to a higher demand for convenient and portable products, including bottled water. In conclusion, the Bottled Water market in Lithuania has experienced growth due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards healthier beverage options, the rise of flavored and functional waters, the demand for premium and natural bottled water, the convenience and portability of bottled water, and the growing economy in Lithuania have all contributed to the development of the market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)