Juices - Guatemala

The Juices market in Guatemala has been experiencing significant growth in recent years.

Customer preferences: Guatemalan consumers have shown a growing preference for healthier beverage options, which has contributed to the increased demand for juices. This shift in consumer preferences can be attributed to a variety of factors, including a greater awareness of the importance of a healthy diet and lifestyle, as well as an increasing concern for the negative health effects of sugary drinks. As a result, there has been a surge in demand for natural and organic juices that are perceived as being healthier and more nutritious.

Trends in the market: One of the key trends in the Guatemalan juice market is the rising popularity of functional juices. These juices are fortified with vitamins, minerals, and other beneficial ingredients that offer specific health benefits. Functional juices cater to the growing demand for products that not only taste good but also provide added health benefits. This trend is driven by consumers who are increasingly looking for ways to enhance their overall well-being and address specific health concerns. Another trend in the market is the increasing popularity of exotic and tropical fruit juices. Guatemala is known for its rich biodiversity and abundance of tropical fruits, and consumers are increasingly seeking out unique and flavorful juice options. This trend is also influenced by the growing interest in international cuisines and flavors, as well as the desire for new and exciting taste experiences.

Local special circumstances: Guatemala is a country with a strong agricultural sector, and this has played a significant role in the development of the juice market. The country's fertile soil and favorable climate allow for the cultivation of a wide variety of fruits, many of which are used in the production of juices. This local abundance of fresh fruit has contributed to the availability and affordability of juices in the market. Additionally, Guatemala has a large population of young consumers who are more health-conscious and willing to try new and innovative products. This demographic is driving the demand for juices and creating opportunities for new players to enter the market with unique and appealing offerings.

Underlying macroeconomic factors: The Guatemalan economy has been experiencing steady growth in recent years, which has had a positive impact on consumer spending power. As disposable incomes rise, consumers have more purchasing power to spend on premium and healthier products, including juices. This economic growth has also led to an expansion of the middle class, which is another key driver of the growing demand for juices. Furthermore, the government of Guatemala has been actively promoting the country's agricultural sector and supporting initiatives aimed at increasing agricultural productivity. This has resulted in improved infrastructure and logistics, making it easier for farmers to access markets and transport their produce. These efforts have contributed to the availability and affordability of fruits, which are key ingredients in the production of juices. In conclusion, the Juices market in Guatemala is experiencing growth due to changing customer preferences towards healthier options, the popularity of functional and exotic juices, local special circumstances such as the abundance of fresh fruit and a young consumer demographic, and underlying macroeconomic factors such as economic growth and government support for the agricultural sector.

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.