Juices - Mongolia

The Juices market in Mongolia has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Mongolian consumers are increasingly embracing healthier lifestyles and are seeking out nutritious and natural products. As a result, there has been a growing demand for juices that are made from fresh fruits and vegetables, without any artificial additives or preservatives. Additionally, consumers are also looking for juices that offer functional benefits, such as boosting immunity or aiding digestion. This shift in consumer preferences has led to a surge in the consumption of cold-pressed juices and smoothies, which are perceived as healthier alternatives to traditional juices.

Trends in the market: One of the key trends in the Juices market in Mongolia is the rising popularity of locally sourced and organic ingredients. Consumers are becoming more conscious of the environmental impact of their food choices and are actively seeking out products that are made from locally grown fruits and vegetables. This trend has created opportunities for local farmers and producers to supply their produce to juice manufacturers, thereby supporting the local economy. Another trend in the market is the increasing availability of premium and exotic juice flavors. As consumers become more adventurous in their taste preferences, juice manufacturers are introducing unique and exotic flavors to cater to their demands. This includes flavors such as dragon fruit, pomegranate, and passion fruit, which are not traditionally grown in Mongolia but are imported to meet the growing demand.

Local special circumstances: Mongolia's harsh climate and limited agricultural resources pose challenges for the Juices market. The country's short growing season and extreme weather conditions make it difficult to cultivate a wide variety of fruits and vegetables locally. As a result, juice manufacturers often rely on imports to meet the demand for certain fruits and flavors that cannot be grown in the country. This dependence on imports can impact the availability and pricing of certain juices in the market.

Underlying macroeconomic factors: The growing Juices market in Mongolia is also influenced by macroeconomic factors such as rising disposable incomes and urbanization. As the country's economy continues to grow, more consumers have the means to afford premium and healthier juice options. Additionally, the increasing urbanization in Mongolia has led to a higher demand for convenient and on-the-go juice products, driving the growth of the market. In conclusion, the Juices market in Mongolia is experiencing growth due to changing customer preferences, emerging trends, and local special circumstances. Consumers are increasingly seeking out healthier and more natural juice options, leading to a rise in the consumption of cold-pressed juices and smoothies. The market is also influenced by trends such as the demand for locally sourced and organic ingredients, as well as the availability of premium and exotic juice flavors. However, the country's harsh climate and limited agricultural resources present challenges for the market, requiring juice manufacturers to rely on imports. Overall, the growth of the Juices market in Mongolia is supported by underlying macroeconomic factors such as rising disposable incomes and urbanization.

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.