Soft Drinks - Estonia

Estonia

Highlights

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Soft Drinks market amounts to US$156.80m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$116.70m in 2024.
Revenue, combined amounts to US$273.60m in 2024.
The revenue, at home is expected to grow annually by 4.89% (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$118.90 are generated in 2024.
In the Soft Drinks market, volume, at home is expected to amount to 117.30m L by 2024.
Volume, out-of-home is expected to amount to 13.15m L in 2024.
Volume, combined is expected to amount to 130.50m L in 2024.
The Soft Drinks market is expected to show a volume growth, at home of 2.1% in 2025.0.
The average volume per person, at home in the Soft Drinks market is expected to amount to 88.96L in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Estonian consumers have shown a growing preference for healthier and more natural beverages, leading to an increased demand for low-sugar and sugar-free soft drinks. This shift in consumer behavior can be attributed to a global trend towards healthier lifestyles and a growing awareness of the negative health effects of excessive sugar consumption. As a result, soft drink manufacturers in Estonia have been introducing new product lines and reformulating existing ones to cater to this demand. Additionally, there is a growing interest in functional beverages, such as energy drinks and sports drinks, among Estonian consumers who are seeking products that provide specific health benefits or enhance performance.

Trends in the market: One of the key trends in the Soft Drinks market in Estonia is the rising popularity of locally produced beverages. Estonian consumers are increasingly supporting domestic brands and products, which has created opportunities for local soft drink manufacturers to thrive. This trend can be attributed to a desire to support the local economy and a preference for products that are perceived to be of higher quality and more environmentally friendly. As a result, domestic soft drink brands have been gaining market share and expanding their product portfolios to meet the evolving needs and preferences of Estonian consumers. Another notable trend in the Soft Drinks market in Estonia is the growing demand for premium and craft beverages. Estonian consumers are willing to pay a premium for beverages that are perceived to be of higher quality, made with natural ingredients, and offer unique flavors. This trend reflects a desire for more sophisticated and indulgent drinking experiences, as well as a growing interest in exploring new and innovative beverage options. Soft drink manufacturers in Estonia have responded to this trend by introducing premium and craft soft drinks that cater to the discerning tastes of consumers.

Local special circumstances: Estonia's small population and relatively high disposable income levels have created a unique market environment for the Soft Drinks industry. With a population of just over 1. 3 million people, soft drink manufacturers in Estonia have to adapt their strategies to target a relatively small consumer base. This has led to a focus on niche segments and the development of specialized products that cater to specific consumer preferences. Additionally, the high disposable income levels in Estonia have allowed consumers to prioritize quality and health-conscious products, driving the demand for premium and healthier soft drinks.

Underlying macroeconomic factors: The Soft Drinks market in Estonia is influenced by various macroeconomic factors, including GDP growth, inflation rates, and consumer confidence. A stable and growing economy in Estonia has contributed to increased consumer spending power and a willingness to invest in premium and healthier soft drinks. Additionally, the country's integration into the European Union has facilitated trade and investment, allowing soft drink manufacturers in Estonia to access a larger market and benefit from economies of scale. However, fluctuations in global commodity prices, such as sugar and packaging materials, can impact the cost of production and ultimately affect the pricing and profitability of soft drinks in Estonia.

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.