Juices - Bulgaria

The Juices market in Bulgaria has been experiencing steady growth in recent years, driven by changing consumer preferences and increasing health consciousness among the population.

Customer preferences: In Bulgaria, consumers have shown a growing preference for healthier beverage options, leading to an increased demand for juices. This is primarily driven by a shift towards healthier lifestyles and a greater emphasis on wellness. As a result, consumers are looking for beverages that are not only refreshing but also provide nutritional benefits. Juices, with their natural ingredients and high vitamin content, have become a popular choice among health-conscious consumers.

Trends in the market: One major trend in the Bulgarian Juices market is the rising popularity of cold-pressed juices. Cold-pressed juices are made by using a hydraulic press to extract the maximum amount of juice from fruits and vegetables, resulting in a higher nutrient content compared to traditional juicing methods. This trend is in line with the growing demand for healthier and more natural products. Another trend in the market is the increasing popularity of functional juices. Functional juices are fortified with additional vitamins, minerals, or other beneficial ingredients to provide specific health benefits. This trend is driven by consumers' desire to address specific health concerns or to boost their overall well-being.

Local special circumstances: Bulgaria has a rich agricultural tradition and is known for its high-quality fruits and vegetables. This has contributed to the availability of a wide variety of locally sourced fruits, which are used to produce juices. The use of local ingredients not only ensures freshness but also supports the local economy.

Underlying macroeconomic factors: The growth of the Juices market in Bulgaria is also influenced by macroeconomic factors such as rising disposable incomes and changing lifestyles. As the economy continues to improve, consumers have more purchasing power, allowing them to spend on premium and healthier products like juices. Additionally, the busy and fast-paced lifestyles of modern consumers have led to an increased demand for convenient and ready-to-drink beverages like juices. In conclusion, the Juices market in Bulgaria is experiencing growth due to changing consumer preferences, including a shift towards healthier options and a desire for convenience. The rising popularity of cold-pressed and functional juices reflects these preferences. The availability of locally sourced fruits and a growing economy also contribute to the growth 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.