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Key regions: India, Nigeria, Vietnam, Australia, United Kingdom
The Bottled Water market in Madagascar has been experiencing significant growth in recent years. Customer preferences for bottled water have been driven by several factors, including increasing health consciousness, rising disposable incomes, and a growing tourism industry. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market. Customer preferences in Madagascar have shifted towards bottled water due to a growing awareness of the importance of clean and safe drinking water. With concerns about waterborne diseases and the need for hydration, consumers are opting for bottled water as a convenient and reliable source of drinking water. Furthermore, the rising disposable incomes in the country have allowed consumers to afford the premium prices associated with bottled water. The tourism industry in Madagascar has also played a significant role in the growth of the bottled water market. As the country attracts a large number of tourists each year, there is a higher demand for bottled water in hotels, restaurants, and tourist attractions. Tourists, especially those from countries with stricter water quality standards, often prefer to consume bottled water to ensure their health and safety during their stay. In terms of trends in the market, there has been an increasing focus on sustainability and environmental consciousness. Consumers are becoming more mindful of the environmental impact of single-use plastic bottles and are seeking alternatives such as reusable bottles or brands that use eco-friendly packaging. This trend is likely to continue as consumers become more educated about the environmental consequences of their choices. Local special circumstances, such as the lack of access to clean and safe drinking water in certain regions of Madagascar, have also contributed to the growth of the bottled water market. In these areas, bottled water is often the only reliable source of drinking water, leading to a higher demand for packaged water products. Underlying macroeconomic factors, such as population growth and urbanization, have also fueled the development of the bottled water market in Madagascar. As the population continues to grow and more people move to urban areas, the demand for packaged water is expected to increase. Additionally, the country's improving infrastructure and distribution networks have made bottled water more accessible to consumers across the country. In conclusion, the Bottled Water market in Madagascar has experienced significant growth due to customer preferences for clean and safe drinking water, the influence of the tourism industry, and the impact of local special circumstances and underlying macroeconomic factors. As consumer awareness continues to grow and environmental consciousness becomes more prevalent, the market is likely to see further developments and changes 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.
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)