Non-Alcoholic Drinks - Iceland | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Non-Alcoholic Drinks market amounts to US$157.40m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$150.40m in 2024.
Revenue, combined amounts to US$307.80m in 2024.
The revenue, at home is expected to grow annually by 2.83% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated United States (US$216bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$416.70 are generated in 2024.
In the Non-Alcoholic Drinks market, volume, at home is expected to amount to 64.04m L by 2024.
Volume, out-of-home is expected to amount to 12.61m L in 2024.
Volume, combined is expected to amount to 76.66m L in 2024.
The Non-Alcoholic Drinks market is expected to show a volume growth, at home of 0.6% in 2025.0.
The average volume per person, at home in the Non-Alcoholic Drinks market is expected to amount to 169.60L in 2024.

Definition:

The Non-Alcoholic Drinks market includes all beverages without alcohol. The beverages combined in this market are also often called liquid refreshment beverages (LRB). Not included are Hot Drinks, powdered drink mixes, and syrups.

Structure:

The Non-Alcoholic Drinks market consists of 4 markets:

Bottled Water includes carbonated and non-carbonated water which is sold in bottles or via water dispensers.
Soft Drinks covers water-based Non-Alcoholic Drinks, this market consists of Carbonated Soft Drinks, Non-Carbonated Soft Drinks, and Energy & Sports Drinks.
The Juices market consists of all types of bottled fruit and vegetable juices which contain 100% fruit and/or vegetable juice. The juices market is divided into Orange Juice, Apple Juice, Grapefruit Juice, Pineapple Juice, Grape Juice, and Other Juice, Juice Mixtures & Smoothies.
The Ready-to-Drink (RTD) Coffee & Tea market includes packaged coffee and tea beverages in liquid form, ready for consumption. This market is further split into Ready-to-Drink (RTD) Coffee and Ready-to-Drink (RTD) Tea.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

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.

Key players include The Coca-Cola Company, PepsiCo, Red Bull, Danone, and Keurig Dr Pepper.

Mineral Water
Soft Drinks
Fruit and vegetable juice

Hot Drinks
Powdered drink mixes and syrups (e.g. Post-Mix Drinks)

The Non-Alcoholic Drinks market in Iceland has seen steady growth in recent years, driven by changing consumer preferences and a growing focus on health and wellness. Customer preferences in Iceland have shifted towards healthier beverage options, with consumers increasingly seeking out low-sugar and natural products. This trend is in line with global preferences, as consumers worldwide are becoming more health-conscious and seeking alternatives to sugary drinks. As a result, sales of carbonated soft drinks have declined in favor of healthier options such as bottled water, herbal teas, and functional beverages. Trends in the market include the rising popularity of functional beverages, which offer additional health benefits beyond basic hydration. Functional beverages such as energy drinks, sports drinks, and enhanced water products have gained traction in Iceland, as consumers look for products that can boost energy levels, improve athletic performance, or provide other specific health benefits. This trend is driven by a growing interest in fitness and wellness, as well as an aging population that is more focused on maintaining their health. Another trend in the market is the increasing demand for locally sourced and sustainable products. Iceland has a strong emphasis on environmental sustainability, and consumers are willing to pay a premium for products that are produced locally and have a smaller carbon footprint. This trend is in line with global consumer preferences, as sustainability and ethical sourcing have become important factors in purchasing decisions. Local special circumstances in Iceland also play a role in shaping the Non-Alcoholic Drinks market. The country's unique geography and climate make it challenging to produce certain types of beverages locally. For example, the cold climate and limited agricultural land make it difficult to grow fruits and vegetables for juice production. As a result, Iceland relies heavily on imports for certain types of non-alcoholic drinks, which can impact pricing and availability. Underlying macroeconomic factors also influence the Non-Alcoholic Drinks market in Iceland. The country has a high standard of living and disposable income levels, which allows consumers to prioritize quality and health when making purchasing decisions. Additionally, Iceland has a strong tourism industry, and the influx of international visitors has contributed to the growth of the Non-Alcoholic Drinks market. Tourists often seek out local products and unique experiences, which has created opportunities for Icelandic beverage companies to showcase their offerings. In conclusion, the Non-Alcoholic Drinks market in Iceland is developing in response to changing consumer preferences, a focus on health and wellness, and a desire for sustainable and locally sourced products. These trends, combined with local special circumstances and underlying macroeconomic factors, are shaping the market and driving growth in certain product categories.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The non-alcoholic beverages industry encompasses liquid refreshment beverages (LRB) such as bottled water, carbonated soft drinks, energy drinks, fruit beverages, ready-to-drink coffee and tea, sports beverages and value-added water. Globally, bottled water is the leading liquid refreshment beverage category, registering more than 76 billion cases in volume sales. Carbonated soft drinks followed in second with a sales volume exceeding 36 billion cases.