Juices - Serbia

The Juices market in Serbia has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in Serbia have shifted towards healthier and more natural beverage options, leading to an increased demand for juices. Additionally, the local special circumstances in Serbia, such as a growing middle class and increasing health consciousness, have also contributed to the development of the Juices market in the country. Customer preferences in Serbia have been influenced by global trends towards healthier lifestyles and a focus on natural and organic products. Consumers are becoming more aware of the health benefits of consuming fruits and vegetables, and are seeking out beverages that offer these benefits. Juices, which are made from fresh fruits and vegetables, are seen as a convenient way to incorporate these nutrients into one's diet. As a result, the demand for juices in Serbia has been steadily increasing. Another factor driving the growth of the Juices market in Serbia is the local special circumstances in the country. Serbia has experienced economic growth in recent years, leading to an expansion of the middle class. With increased disposable income, consumers in Serbia are able to spend more on premium and healthier products, including juices. Additionally, there is a growing health consciousness among consumers in Serbia, with many individuals actively seeking out products that promote wellness and a healthy lifestyle. This has further fueled the demand for juices in the country. The Juices market in Serbia has also been influenced by underlying macroeconomic factors. The country's favorable economic conditions, including low inflation and stable GDP growth, have created a conducive environment for businesses in the food and beverage industry to thrive. This has attracted both domestic and international players to invest in the Juices market in Serbia, leading to increased competition and product innovation. Additionally, Serbia's geographical location and access to a wide variety of fruits and vegetables have also contributed to the development of the Juices market, as it allows for the production of high-quality and diverse juice products. In conclusion, the Juices market in Serbia is developing due to changing customer preferences towards healthier and more natural beverages, as well as local special circumstances such as a growing middle class and increasing health consciousness. The favorable macroeconomic conditions in the country have also played a role in attracting investment and driving innovation in the Juices market. As a result, the market is expected to continue growing in the coming years.

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.