Ready-to-Drink (RTD) Tea - Bosnia and Herzegovina

The Ready-to-Drink (RTD) Tea market in Bosnia and Herzegovina has been steadily growing in recent years, driven by changing consumer preferences and the increasing popularity of healthier beverage options.

Customer preferences: Bosnia and Herzegovina, like many other countries, has experienced a shift in consumer preferences towards healthier and more natural products. This has led to an increased demand for ready-to-drink tea, as it is often perceived as a healthier alternative to carbonated soft drinks. Consumers are also attracted to the convenience and portability of RTD tea, making it a popular choice for on-the-go consumption.

Trends in the market: One of the key trends in the RTD tea market in Bosnia and Herzegovina is the growing demand for organic and natural products. Consumers are becoming more conscious about the ingredients in their beverages and are actively seeking out products that are free from artificial flavors, colors, and preservatives. As a result, manufacturers are introducing a wider range of organic and natural RTD tea options to cater to this demand. Another trend in the market is the introduction of innovative flavors and blends. While traditional flavors like green tea and black tea remain popular, consumers are increasingly looking for unique and exotic flavors that provide a refreshing and enjoyable drinking experience. Manufacturers are responding to this trend by launching new and exciting flavor combinations, such as fruit-infused teas and herbal blends.

Local special circumstances: Bosnia and Herzegovina has a rich tea-drinking culture, with tea being a popular beverage choice among the population. This cultural preference for tea has created a favorable environment for the growth of the RTD tea market. Additionally, the country's warm climate makes RTD tea a refreshing and thirst-quenching option, particularly during the summer months.

Underlying macroeconomic factors: The growing RTD tea market in Bosnia and Herzegovina is also influenced by several macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income levels. As a result, consumers have more purchasing power and are willing to spend on premium and healthier beverage options like RTD tea. Furthermore, the increasing urbanization and Westernization of Bosnia and Herzegovina have also contributed to the growth of the RTD tea market. Urban consumers, who have busy and fast-paced lifestyles, are more likely to opt for convenient and ready-to-drink beverages. This has created a demand for RTD tea products that are easily accessible and can be consumed on-the-go. In conclusion, the Ready-to-Drink (RTD) Tea market in Bosnia and Herzegovina is experiencing growth due to changing consumer preferences, including a shift towards healthier and more natural products. The market is also being driven by the introduction of innovative flavors and blends, as well as the country's tea-drinking culture and favorable macroeconomic factors. As the market continues to evolve, it is likely that manufacturers will continue to focus on meeting consumer demand for organic and natural options, as well as introducing new and exciting flavors to cater to diverse tastes.

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.