Juices - Baltics

The Juices market in Baltics has been experiencing significant growth in recent years, driven by changing customer preferences and a growing focus on health and wellness.

Customer preferences: Consumers in Baltics are increasingly seeking healthier beverage options, which has led to a rise in demand for juices. Juices are perceived as a natural and nutritious choice, offering a wide range of flavors and health benefits. In addition, the convenience of ready-to-drink juices has also contributed to their popularity among busy consumers.

Trends in the market: One of the key trends in the Juices market in Baltics is the growing demand for organic and natural juices. Consumers are becoming more conscious about the ingredients and production methods used in their food and beverages, and are willing to pay a premium for products that are free from artificial additives and pesticides. This trend is driven by a desire for healthier and more sustainable products, as well as a growing awareness of the environmental impact of conventional farming practices. Another trend in the market is the increasing popularity of functional juices. These are juices that are fortified with vitamins, minerals, and other beneficial ingredients to provide specific health benefits. Functional juices cater to consumers who are looking for targeted solutions to their health concerns, such as boosting immunity or improving digestion. This trend is driven by a growing interest in self-care and a desire to proactively manage one's health.

Local special circumstances: The Baltics region has a rich agricultural heritage, with a wide variety of fruits and berries grown locally. This has contributed to a vibrant and diverse juice market, with a range of flavors and ingredients available to consumers. Local brands have capitalized on this by offering unique and authentic juice options that showcase the flavors of the region. This has resonated with consumers who are looking for locally sourced and sustainable products.

Underlying macroeconomic factors: The growing Juices market in Baltics can also be attributed to favorable macroeconomic factors. The region has experienced stable economic growth in recent years, which has increased disposable incomes and consumer purchasing power. This has allowed consumers to spend more on premium and healthier products, including juices. In addition, the growing tourism industry in the Baltics has also contributed to the demand for juices, as tourists seek out local and authentic food and beverage experiences. In conclusion, the Juices market in Baltics is experiencing growth due to changing customer preferences, including a focus on health and wellness, as well as a growing interest in organic and natural products. Local brands have capitalized on the region's agricultural heritage to offer unique and authentic juice options. Favorable macroeconomic factors, such as stable economic growth and a thriving tourism industry, have also contributed to the market's expansion.

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.