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Key regions: United States, Singapore, Philippines, India, United Kingdom
Soft drinks have become an integral part of the daily lives of consumers in Bosnia and Herzegovina. The market for soft drinks in the country has witnessed significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Bosnian consumers have shown a growing preference for healthier and more natural soft drink options. This shift in consumer behavior can be attributed to increasing health consciousness and a desire for products that are perceived as being more beneficial for their well-being. As a result, there has been a rise in demand for low-sugar, low-calorie, and organic soft drinks in the market.
Trends in the market: One of the notable trends in the soft drinks market in Bosnia and Herzegovina is the increasing popularity of functional beverages. Consumers are seeking soft drinks that offer additional health benefits, such as enhanced hydration, improved digestion, or increased energy levels. This trend is driven by a desire for products that not only quench thirst but also provide added value in terms of health and wellness. Another trend observed in the market is the growing demand for premium and artisanal soft drinks. Consumers are willing to pay a premium for beverages that are perceived as being of higher quality, made with natural ingredients, and produced in small batches. This trend reflects a shift towards more sophisticated and discerning palates, as well as a desire for unique and exclusive experiences.
Local special circumstances: Bosnia and Herzegovina has a rich cultural heritage, and this is reflected in the soft drinks market. Traditional Bosnian beverages, such as boza (a fermented drink made from wheat) and rakija (a fruit brandy), continue to be popular among consumers. These traditional beverages have a strong emotional and cultural connection, and they contribute to the unique flavor profile of the Bosnian soft drinks market.
Underlying macroeconomic factors: The soft drinks market in Bosnia and Herzegovina is influenced by various macroeconomic factors. The country has witnessed steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has resulted in higher purchasing power and a greater willingness to spend on non-essential items, such as soft drinks. Furthermore, the tourism industry plays a significant role in the soft drinks market. Bosnia and Herzegovina is known for its natural beauty and historical landmarks, attracting a large number of tourists each year. The tourism industry creates opportunities for soft drink manufacturers to cater to the preferences of both domestic and international tourists, leading to increased demand for a variety of beverages. In conclusion, the soft drinks market in Bosnia and Herzegovina is evolving to meet the changing preferences of consumers. The shift towards healthier options, the demand for functional and premium beverages, and the influence of local traditions and tourism are driving the development of the market. As the economy continues to grow and consumer spending power increases, the soft drinks market is expected to further expand and diversify 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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)