Soft Drinks - Croatia

The Soft Drinks market in Croatia is experiencing significant growth and development.

Customer preferences: Croatian consumers have shown a strong preference for soft drinks, with a particular focus on carbonated beverages. This can be attributed to the refreshing and thirst-quenching qualities of these drinks, which make them popular choices, especially during the hot summer months. Additionally, consumers in Croatia have also shown an increasing interest in healthier alternatives, such as natural fruit juices and low-sugar beverages. This shift in preferences can be attributed to the growing health consciousness among consumers, who are seeking out options that align with their wellness goals.

Trends in the market: One of the key trends in the Soft Drinks market in Croatia is the rising demand for premium and craft beverages. Consumers are increasingly looking for unique and high-quality products that offer a differentiated taste experience. This trend is driven by the desire for novelty and the willingness to pay a premium for products that are perceived as more exclusive or artisanal. As a result, we have seen an increase in the availability of premium soft drinks in the market, catering to this demand. Another trend in the market is the emergence of functional beverages. These are drinks that offer additional health benefits beyond hydration. Functional beverages can include ingredients such as vitamins, minerals, probiotics, or herbal extracts, which are believed to have specific health benefits. This trend aligns with the growing interest in health and wellness among consumers, who are seeking out products that can support their overall well-being.

Local special circumstances: Croatia, being a popular tourist destination, experiences a significant influx of tourists during the summer months. This has a direct impact on the Soft Drinks market, as there is a higher demand for beverages to cater to the needs of both locals and tourists. Soft drinks, particularly carbonated beverages, are popular choices among tourists, who are looking for refreshing options to quench their thirst and beat the heat. This seasonal variation in demand presents opportunities for both local and international soft drink manufacturers to capitalize on the increased consumption during the tourist season.

Underlying macroeconomic factors: The growing Soft Drinks market in Croatia can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in increased disposable income among consumers. This has led to a rise in consumer spending on non-essential goods, including soft drinks. Additionally, Croatia's membership in the European Union has facilitated trade and investment, allowing for greater access to a wide range of soft drink products from both domestic and international manufacturers. This has contributed to the overall growth and development of the Soft Drinks market in Croatia.

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.