Soft Drinks - Brunei Darussalam

The Soft Drinks market in Brunei Darussalam has been experiencing significant growth in recent years.

Customer preferences: In Brunei Darussalam, there is a growing demand for soft drinks, particularly among the younger population. This can be attributed to factors such as changing lifestyles, increasing disposable income, and the influence of Western culture. Consumers are looking for refreshing and flavorful beverages that can be enjoyed on various occasions, including social gatherings, meals, and leisure activities. There is also a preference for healthier options, with a focus on natural ingredients and reduced sugar content.

Trends in the market: One of the key trends in the soft drinks market in Brunei Darussalam is the rising popularity of carbonated beverages. Carbonated soft drinks, such as cola and lemon-lime sodas, are widely consumed and enjoyed by consumers of all ages. Additionally, there is a growing demand for flavored water and sports drinks, as consumers are becoming more health-conscious and are seeking alternatives to sugary beverages. Energy drinks are also gaining traction, particularly among the younger demographic who are looking for a boost of energy and improved focus.

Local special circumstances: Brunei Darussalam is a small country with a relatively small population, which means that the soft drinks market is not as saturated as in larger countries. This presents opportunities for both local and international soft drink brands to enter the market and establish a strong presence. Additionally, the government of Brunei Darussalam has been supportive of the food and beverage industry, providing incentives and favorable business conditions for companies operating in this sector.

Underlying macroeconomic factors: The growing soft drinks market in Brunei Darussalam can be attributed to several macroeconomic factors. Firstly, the country has experienced steady economic growth in recent years, which has led to an increase in disposable income among consumers. This has resulted in higher purchasing power and a greater willingness to spend on non-essential items such as soft drinks. Secondly, Brunei Darussalam has a young and expanding population, which is driving demand for soft drinks. The younger generation is more likely to consume soft drinks on a regular basis, contributing to the overall growth of the market. Finally, the influence of Western culture and lifestyle trends has played a significant role in shaping consumer preferences in Brunei Darussalam. The popularity of Western-style fast food chains and the availability of international soft drink brands have contributed to the growth of the market. In conclusion, the soft drinks market in Brunei Darussalam is experiencing growth due to changing customer preferences, including a demand for carbonated beverages, flavored water, and healthier options. The local special circumstances, such as the small population and government support, provide opportunities for both local and international brands. The underlying macroeconomic factors, including economic growth, a young population, and the influence of Western culture, are driving the expansion 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.