Bottled Water - North Macedonia

The Bottled Water market in North Macedonia has been experiencing significant growth in recent years. Customer preferences have shifted towards healthier beverage options, leading to an increased demand for bottled water. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of the market.

Customer preferences: In line with global trends, customers in North Macedonia have become increasingly health-conscious and are opting for healthier beverage choices. Bottled water is perceived as a healthier alternative to sugary drinks and carbonated beverages, as it does not contain any added sugars or artificial ingredients. The convenience and portability of bottled water also make it a popular choice among consumers, especially those leading busy lifestyles. Furthermore, the rising awareness about the importance of hydration and the health benefits of drinking water have further fueled the demand for bottled water in the country.

Trends in the market: One of the key trends in the bottled water market in North Macedonia is the growing popularity of premium and flavored water. As consumers become more willing to spend on higher-quality products, they are seeking out premium bottled water brands that offer unique and enhanced flavors. This trend is driven by the desire for variety and a more enjoyable drinking experience. Additionally, the increasing focus on sustainability has led to the emergence of eco-friendly packaging options, such as biodegradable bottles and packaging made from recycled materials. This trend reflects the growing concern for the environment and the desire to reduce plastic waste.

Local special circumstances: North Macedonia has a relatively low tap water quality, which has contributed to the growth of the bottled water market. Many consumers are hesitant to drink tap water due to concerns about contamination and taste. This has created a significant opportunity for bottled water brands to cater to the demand for safe and clean drinking water. Additionally, the country's hot and dry climate, especially during the summer months, has further increased the consumption of bottled water as a means of staying hydrated.

Underlying macroeconomic factors: The growing economy and rising disposable incomes in North Macedonia have played a significant role in the development of the bottled water market. As consumers have more purchasing power, they are able to afford bottled water as a regular part of their daily consumption. Furthermore, the tourism industry in the country has been thriving, attracting a large number of international visitors. This has created a demand for bottled water in hotels, restaurants, and tourist destinations, further driving the growth of the market. In conclusion, the Bottled Water market in North Macedonia has experienced significant growth due to shifting customer preferences towards healthier beverage options, the emergence of premium and flavored water, local special circumstances such as tap water quality and climate, and underlying macroeconomic factors including a growing economy and rising disposable incomes. As these trends continue to shape the market, it is expected that the demand for bottled water will continue to rise 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.