Juices - Suriname

The Juices market in Suriname has been steadily growing over the past few years, driven by changing customer preferences and local special circumstances.

Customer preferences: Suriname is experiencing a shift in customer preferences towards healthier and more natural beverages. Consumers are becoming more health-conscious and are seeking out juices that are made from fresh fruits and vegetables, without any artificial additives or preservatives. This trend is in line with the global movement towards clean eating and a more balanced lifestyle. As a result, there is a growing demand for organic and cold-pressed juices in Suriname.

Trends in the market: One of the key trends in the Juices market in Suriname is the increasing popularity of functional juices. These are juices that are fortified with additional nutrients or ingredients that offer specific health benefits. For example, there is a rising demand for juices that are enriched with vitamins, minerals, and antioxidants. This trend is driven by consumers' desire to improve their overall health and well-being. Another trend in the market is the growing popularity of exotic and tropical fruit juices. Suriname is known for its abundant supply of tropical fruits such as mangoes, passion fruits, and guavas. Consumers are increasingly interested in trying new and unique flavors, and tropical fruit juices provide a refreshing and exotic option. This trend is also fueled by the country's thriving tourism industry, as visitors from around the world are eager to sample the local fruits.

Local special circumstances: Suriname is a country with a rich agricultural heritage, and this plays a significant role in the Juices market. The abundance of fresh fruits and vegetables allows for the production of high-quality juices. Local juice manufacturers have access to a wide variety of fruits, which enables them to create unique and flavorful blends. Additionally, the tropical climate in Suriname provides ideal conditions for fruit cultivation, resulting in a consistent supply of fresh produce throughout the year.

Underlying macroeconomic factors: Suriname's growing middle class and increasing disposable income are contributing to the development of the Juices market. As people's purchasing power increases, they are able to afford more premium and healthier beverages. This has led to a rise in the consumption of juices, as consumers are willing to spend more on products that align with their health and wellness goals. Furthermore, the government of Suriname has been actively promoting the consumption of local products, including juices. This support has created a favorable business environment for local juice manufacturers, who are able to showcase their products and gain a competitive edge in the market. The government's initiatives have also helped to raise awareness among consumers about the benefits of consuming locally-produced juices, further driving the growth of the market. In conclusion, the Juices market in Suriname is experiencing growth due to changing customer preferences towards healthier and more natural beverages. The demand for functional juices and exotic tropical fruit juices is on the rise, driven by consumers' desire for improved health and unique flavors. The country's agricultural heritage and favorable business environment, along with the growing middle class and government support, are underlying factors contributing to the development 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.