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Soft Drinks - Bulgaria

Bulgaria
  • Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Soft Drinks market amounts to US$504.30m in 2024.
  • Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$464.20m in 2024.
  • Revenue, combined amounts to US$968.50m in 2024.
  • The revenue, at home is expected to grow annually by 2.51% (CAGR 2024-2029).
  • In global comparison, most revenue, at home is generated United States (US$114bn in 2024).
  • In relation to total population figures, the average revenue per capita, at home of US$76.19 are generated in 2024.
  • In the Soft Drinks market, volume, at home is expected to amount to 540.60m L by 2024.
  • Volume, out-of-home is expected to amount to 80.44m L in 2024.
  • Volume, combined is expected to amount to 621.00m L in 2024.
  • The Soft Drinks market is expected to show a volume growth, at home of 0.3% in 2025.0.
  • The average volume per person, at home in the Soft Drinks market is expected to amount to 81.67L in 2024.

Definition:

The market Soft Drinks covers varieties of prepared water-based beverages to which flavoring additives (sugar or sweeteners, aromas etc.) have been added. These include cola drinks and lemonades, but also energy drinks, fruit nectars and soft drinks with fruit juice content, as well as value-added or flavored water. Coffee and tea-based drinks are not included.

Structure:

The Soft Drinks market is structured into 3 markets:

  • Carbonated Soft Drinks denote all artificially sweetened and carbonated Non-Alcoholic Drinks.
  • Non-Carbonated Soft Drinks contain non-alcoholic liquid refreshment beverages that are not artificially carbonated.
  • Energy & Sports Drinks include energy drinks and sports drinks, providing functional benefits such as mental and physical stimulation.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

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.

Key players include The Coca-Cola Company, PepsiCo, Suntory, Red Bull, and Keurig Dr Pepper.

In-Scope

  • Carbonated Soft Drinks (Cola, Lemonade etc.)
  • Non-Carbonated Soft Drinks (nectars, value-added or flavoured water etc.)
  • Energy & Sports Drinks

Out-Of-Scope

  • Hot Drinks
  • Powdered drink mixes and syrups (e.g. Post-Mix Drinks)
Soft Drinks: market data & analysis - Cover

Market Insights report

Soft Drinks: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: May 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Soft Drinks market in Bulgaria has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.

    Customer preferences:
    Bulgarian consumers have been increasingly seeking healthier beverage options, leading to a rise in demand for low-sugar and natural soft drinks. This shift in consumer preferences can be attributed to a growing awareness of the negative health effects of excessive sugar consumption. As a result, soft drink companies have been introducing new products and reformulating existing ones to meet these changing demands. Additionally, there has been a rise in the popularity of functional beverages, such as energy drinks and sports drinks, which offer specific health benefits and cater to the active lifestyles of consumers.

    Trends in the market:
    One of the key trends in the Bulgarian soft drinks market is the increasing popularity of bottled water. With concerns over the quality of tap water, many consumers are opting for bottled water as a safer and more convenient alternative. This trend has been further fueled by the rising health consciousness among consumers. As a result, bottled water has become one of the fastest-growing segments in the soft drinks market. Another trend in the market is the growing demand for premium and niche soft drinks. Bulgarian consumers are becoming more adventurous in their beverage choices and are willing to try new and unique flavors. This has created opportunities for small and independent soft drink companies to enter the market and cater to niche segments. Craft sodas, artisanal fruit juices, and herbal-infused drinks are gaining popularity among consumers who are looking for something different from the traditional soft drink offerings.

    Local special circumstances:
    Bulgaria's geographic location and climate have a significant impact on the soft drinks market. The country experiences hot summers, which creates a high demand for refreshing and cooling beverages. Soft drink companies have capitalized on this by promoting their products as a way to beat the heat and stay hydrated. Additionally, Bulgaria has a strong tradition of fruit cultivation, which has led to the availability of a wide variety of locally sourced fruit juices and fruit-based soft drinks.

    Underlying macroeconomic factors:
    The improving economic conditions in Bulgaria have also contributed to the growth of the soft drinks market. As disposable incomes have increased, consumers have more purchasing power and are willing to spend on premium and healthier soft drink options. Furthermore, the country's membership in the European Union has facilitated trade and investment, allowing international soft drink companies to enter the market and offer a wider range of products. In conclusion, the Soft Drinks market in Bulgaria is experiencing growth due to changing customer preferences towards healthier and more natural options, the popularity of bottled water, the demand for premium and niche soft drinks, the country's geographic location and climate, as well as the improving economic conditions and trade opportunities.

    Methodology

    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.

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    Soft Drinks: market data & analysis - BackgroundSoft Drinks: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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