Juices - Bosnia and Herzegovina

The Juices market in Bosnia and Herzegovina has been experiencing steady growth in recent years.

Customer preferences: Consumers in Bosnia and Herzegovina have shown a growing preference for healthier beverage options, which has contributed to the increasing demand for juices. With rising health consciousness and awareness about the benefits of consuming natural and nutritious products, consumers are turning to juices as a convenient and tasty way to incorporate vitamins and minerals into their diets.

Trends in the market: One of the key trends in the Juices market in Bosnia and Herzegovina is the shift towards organic and natural juices. Consumers are becoming more conscious about the ingredients used in their food and beverages, and are actively seeking products that are free from artificial additives and preservatives. This trend is reflected in the increasing number of organic and natural juice brands entering the market, offering a wide range of flavors and varieties to cater to different consumer preferences. Another trend in the market is the growing popularity of cold-pressed juices. Cold-pressed juices are made by using a hydraulic press to extract juice from fruits and vegetables, without the use of heat. This method is believed to retain more nutrients and enzymes compared to traditional juicing methods. The demand for cold-pressed juices is driven by consumers looking for premium and high-quality products that offer maximum health benefits.

Local special circumstances: Bosnia and Herzegovina has a rich agricultural sector, with a variety of fruits and vegetables being grown in the country. This abundance of locally sourced ingredients provides an opportunity for juice manufacturers to produce fresh and flavorful products. Consumers in the country appreciate the use of local ingredients in their juices, as it gives them a sense of connection to their culture and supports local farmers.

Underlying macroeconomic factors: The growing middle class and increasing disposable income in Bosnia and Herzegovina have also contributed to the growth of the Juices market. As consumers have more spending power, they are able to afford higher-priced products such as premium juices. In addition, the expanding retail sector and the availability of juices in supermarkets and convenience stores have made these products easily accessible to a larger consumer base. In conclusion, the Juices market in Bosnia and Herzegovina is driven by consumer preferences for healthier beverage options, including organic and natural juices. The market is also influenced by trends such as the popularity of cold-pressed juices. The use of local ingredients and the country's growing middle class and disposable income further contribute to the development of the market.

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.