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Key regions: India, Nigeria, Vietnam, Australia, United Kingdom
The Bottled Water market in Peru has been experiencing significant growth in recent years.
Customer preferences: Peruvian consumers have shown a growing preference for bottled water over other beverages. This can be attributed to several factors, including increasing health consciousness and concerns about the quality of tap water. Bottled water is seen as a convenient and safe option for hydration, especially in urban areas where access to clean drinking water may be limited. Additionally, the rise in disposable income levels has allowed consumers to prioritize their health and well-being, leading to an increased demand for bottled water.
Trends in the market: One of the key trends in the bottled water market in Peru is the growing popularity of premium and functional water products. Consumers are willing to pay a premium for bottled water that offers additional health benefits, such as mineral-rich or alkaline water. This trend is driven by the perception that these products provide superior hydration and contribute to overall wellness. As a result, companies in the market are introducing new and innovative products to cater to this demand. Another trend in the market is the increasing focus on sustainability and environmental consciousness. Consumers are becoming more aware of the impact of plastic waste on the environment and are seeking alternative packaging options. This has led to the emergence of eco-friendly packaging solutions, such as biodegradable bottles and refillable containers. Companies that prioritize sustainability in their operations are likely to gain a competitive edge in the market.
Local special circumstances: Peru's unique geography and climate contribute to the growth of the bottled water market. The country is home to the Andes Mountains, which provide a natural source of mineral-rich water. This has led to the development of several local brands that capitalize on the perceived health benefits of Andean water. Additionally, Peru experiences high temperatures and low humidity in certain regions, making bottled water a necessity for hydration.
Underlying macroeconomic factors: Peru's strong economic growth and improving living standards have played a significant role in the development of the bottled water market. The country has experienced a period of sustained economic expansion, which has resulted in rising disposable incomes and increased consumer spending. As a result, consumers have more purchasing power to buy bottled water, driving market growth. In conclusion, the Bottled Water market in Peru is experiencing growth due to changing consumer preferences, including a shift towards healthier beverage options and concerns about tap water quality. The market is also influenced by trends such as the demand for premium and functional water products, as well as the increasing focus on sustainability. Peru's unique geography and climate contribute to the market's development, while the country's strong macroeconomic factors, such as economic growth and rising disposable incomes, have further fueled market growth.
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)