Bottled Water - Paraguay

The Bottled Water market in Paraguay has been experiencing significant growth in recent years.

Customer preferences: Paraguayans have shown a growing preference for bottled water over other beverages. This can be attributed to several factors, including increasing health consciousness and a desire for convenience. Bottled water is seen as a healthier alternative to sugary drinks and is often chosen by consumers who are looking to maintain a balanced diet. Additionally, the convenience of bottled water makes it an attractive option for on-the-go consumption.

Trends in the market: One of the key trends in the Paraguayan Bottled Water market is the increasing demand for premium and functional water products. Consumers are willing to pay a premium for bottled water that offers additional benefits such as enhanced hydration or added vitamins and minerals. This trend is driven by a desire for products that not only quench thirst but also provide added value in terms of health and wellness. Another trend in the market is the rise of flavored and infused water products. Paraguayans are increasingly looking for variety and flavor in their beverages, and flavored water provides a refreshing and healthy option. This trend is particularly popular among younger consumers who are more open to trying new and innovative products.

Local special circumstances: Paraguay's hot and humid climate plays a significant role in driving the demand for bottled water. The need to stay hydrated is heightened in such weather conditions, making bottled water a necessity for many Paraguayans. Additionally, the lack of access to clean and safe drinking water in certain areas of the country further contributes to the popularity of bottled water.

Underlying macroeconomic factors: The growing economy of Paraguay has led to an increase in disposable income among consumers. This has resulted in a higher purchasing power and an ability to spend on non-essential items such as bottled water. As consumers become more financially stable, they are willing to spend more on premium and healthier products, further driving the growth of the Bottled Water market. In conclusion, the Bottled Water market in Paraguay is experiencing growth due to customer preferences for healthier and convenient beverages. The demand for premium and flavored water products is on the rise, driven by a desire for added health benefits and variety. The hot climate and lack of access to clean drinking water also contribute to the popularity of bottled water. The growing economy and increasing disposable income of Paraguayans further support 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.