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Key regions: India, Nigeria, Vietnam, Australia, United Kingdom
The Bottled Water market in Nordics has experienced significant growth in recent years, driven by changing consumer preferences and a growing awareness of health and wellness.
Customer preferences: Customers in the Nordics have shown a strong preference for bottled water over other beverages, due to its perceived health benefits and convenience. With concerns about the quality of tap water in some areas, many consumers are turning to bottled water as a safer and more reliable option. Additionally, the trend towards healthier lifestyles and increased focus on hydration has also contributed to the growing demand for bottled water in the region.
Trends in the market: One of the key trends in the Bottled Water market in Nordics is the increasing popularity of premium and functional waters. Consumers are willing to pay a premium for products that offer additional health benefits, such as enhanced hydration, electrolytes, or added vitamins and minerals. This trend is driven by the growing interest in wellness and the desire to lead a healthier lifestyle. Another trend in the market is the rise of flavored and infused waters. Consumers are seeking more variety and flavor in their beverages, and flavored waters provide a refreshing and healthier alternative to sugary soft drinks and juices. The introduction of innovative flavors and combinations has further fueled the demand for flavored and infused waters in the region.
Local special circumstances: The Nordic region is known for its pristine natural environment and abundant freshwater resources. This has led to a strong emphasis on sustainability and environmental responsibility in the Bottled Water market. Many companies in the region are focusing on reducing their environmental footprint by using eco-friendly packaging materials and implementing recycling initiatives. This commitment to sustainability resonates with consumers and has helped to drive the growth of the market.
Underlying macroeconomic factors: The strong economy and high disposable income levels in the Nordics have also played a role in the growth of the Bottled Water market. Consumers in the region have the financial means to prioritize their health and wellness, and are willing to spend more on premium and functional beverages. Additionally, the tourism industry in the Nordics has been booming in recent years, attracting visitors from around the world who are also contributing to the increased demand for bottled water. In conclusion, the Bottled Water market in Nordics is experiencing strong growth due to changing consumer preferences, including a shift towards healthier lifestyles and increased focus on hydration. The market is also being driven by the popularity of premium and functional waters, as well as flavored and infused varieties. The region's commitment to sustainability and the strong economy are additional factors contributing to the growth 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)