Juices - Nepal

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

Customer preferences: Nepalese consumers have shown a growing preference for healthier beverage options, which has contributed to the increased demand for juices. With rising health consciousness and awareness about the benefits of consuming fruits and vegetables, more people are turning to juices as a convenient way to incorporate these nutrients into their diet. Additionally, the younger generation, in particular, is increasingly seeking out natural and organic products, driving the demand for juices made from fresh and locally sourced ingredients.

Trends in the market: One of the key trends in the Nepalese Juices market is the diversification of product offerings. Previously, the market was dominated by traditional fruit juices such as orange and apple. However, there has been a surge in the availability of a wide range of flavors and blends, including exotic fruits and vegetables. This trend is driven by the desire for unique and innovative flavors, as well as the increasing popularity of functional juices that offer additional health benefits. Another notable trend is the growing popularity of packaged juices. As the urban population continues to grow and consumers become more time-conscious, there is a greater demand for ready-to-drink juices that can be conveniently consumed on the go. This has led to an increase in the availability of packaged juices in various formats, including bottles, tetra packs, and pouches.

Local special circumstances: Nepal's agricultural sector plays a significant role in the Juices market. The country is known for its diverse range of fruits and vegetables, including unique varieties that are not commonly found in other markets. This gives Nepalese juice manufacturers a competitive advantage in terms of offering distinct flavors and ingredients. Furthermore, the use of locally sourced produce helps support the local economy and promotes sustainability.

Underlying macroeconomic factors: Nepal's growing economy and increasing disposable income have also contributed to the development of the Juices market. As people's purchasing power improves, they are more willing to spend on premium and healthier beverages. Additionally, the expanding middle class and urbanization have led to changes in lifestyle and dietary habits, with a greater emphasis on health and wellness. These factors have created a favorable environment for the growth of the Juices market in Nepal. In conclusion, the Juices market in Nepal is witnessing significant growth due to changing customer preferences, including a focus on health and wellness, the diversification of product offerings, and the increasing popularity of packaged juices. The country's unique agricultural resources and favorable macroeconomic factors further contribute to the market's development.

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.