Bottled Water - Puerto Rico

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

Customer preferences: One of the main reasons for the growth in the Bottled Water market in Puerto Rico is the increasing health consciousness among consumers. Bottled water is perceived as a healthier alternative to sugary drinks and is often chosen by consumers as a way to stay hydrated and maintain a healthy lifestyle. Additionally, the convenience and portability of bottled water make it a popular choice for on-the-go consumption.

Trends in the market: One trend that has been observed in the Bottled Water market in Puerto Rico is the increasing demand for premium and flavored bottled water. Consumers are willing to pay a premium for high-quality and unique flavors, as they seek a more enjoyable drinking experience. This trend is driven by a desire for variety and a shift towards more sophisticated tastes. Another trend in the market is the growing popularity of functional bottled water, which includes enhanced water products with added vitamins, minerals, and other health benefits. These products cater to specific consumer needs and preferences, such as improved digestion, increased energy, or enhanced hydration.

Local special circumstances: Puerto Rico's warm climate and high humidity levels contribute to the demand for bottled water. The need for hydration is particularly important in this tropical environment, where temperatures can often reach high levels. Additionally, Puerto Rico's tourism industry plays a significant role in driving the demand for bottled water, as tourists visiting the island often opt for bottled water to ensure their safety and avoid potential health risks.

Underlying macroeconomic factors: The Bottled Water market in Puerto Rico is also influenced by macroeconomic factors such as disposable income levels and population growth. As the economy improves and disposable incomes rise, consumers have more purchasing power to spend on bottled water. Furthermore, the growing population in Puerto Rico contributes to an increase in the overall demand for bottled water. In conclusion, the Bottled Water market in Puerto Rico is experiencing growth due to customer preferences for healthier beverage options, including premium and flavored bottled water, as well as functional water products. The local special circumstances, such as the warm climate and tourism industry, also contribute to the market's development. Additionally, underlying macroeconomic factors, such as disposable income levels and population growth, play a significant role in driving the demand for bottled water in Puerto Rico.

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.