Non-Alcoholic Drinks - Costa Rica

The Non-Alcoholic Drinks market in Costa Rica has been experiencing steady growth in recent years. Customer preferences for healthier beverage options, coupled with a growing awareness of the negative health effects of sugary drinks, have contributed to the development of this market. Customer preferences in Costa Rica have shifted towards healthier beverage options, such as bottled water, fruit juices, and functional drinks. This trend is in line with global consumer behavior, as people are becoming more health-conscious and are actively seeking out products that are perceived as better for their overall well-being. The demand for non-alcoholic drinks in Costa Rica has also been driven by the increasing popularity of natural and organic products, as consumers are becoming more aware of the environmental and health benefits of consuming these types of beverages. One of the key trends in the Non-Alcoholic Drinks market in Costa Rica is the rise of functional drinks. These beverages are formulated with added vitamins, minerals, and other beneficial ingredients that offer specific health benefits. Functional drinks have gained popularity among consumers who are looking for products that not only quench their thirst but also provide additional health benefits. This trend is expected to continue as people become more health-conscious and seek out products that offer functional benefits. Another trend in the market is the growing popularity of flavored water. Flavored water offers a healthier alternative to sugary beverages, as it provides a refreshing taste without the added calories and sugar. This trend is driven by the increasing number of consumers who are actively trying to reduce their sugar intake and make healthier choices. The demand for flavored water is expected to continue to grow as more consumers become aware of the health benefits of this beverage option. Local special circumstances in Costa Rica have also contributed to the development of the Non-Alcoholic Drinks market. The country's tropical climate and abundance of natural resources make it an ideal location for the production of fruit juices and other non-alcoholic beverages. Costa Rica is known for its high-quality fruits, such as pineapples and mangoes, which are often used as key ingredients in fruit juices and smoothies. The availability of these locally sourced ingredients has helped to drive the growth of the Non-Alcoholic Drinks market in Costa Rica. Underlying macroeconomic factors, such as a stable economy and increasing disposable income, have also played a role in the development of the Non-Alcoholic Drinks market in Costa Rica. As the country's economy continues to grow, consumers have more purchasing power and are able to spend more on non-essential items, including beverages. This has created a favorable market environment for non-alcoholic drink manufacturers and has contributed to the overall growth of the market. In conclusion, the Non-Alcoholic Drinks market in Costa Rica is developing due to customer preferences for healthier beverage options, including functional drinks and flavored water. The country's tropical climate and abundance of natural resources, along with underlying macroeconomic factors, have also contributed to the growth of this market. As consumer awareness of the health benefits of non-alcoholic drinks continues to increase, the market is expected to expand further 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.