Soft Drinks - Guatemala

The Soft Drinks market in Guatemala has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Soft Drinks market have shifted towards healthier options, with consumers becoming more conscious of their health and wellness. This has led to an increased demand for low-sugar and natural ingredient beverages, such as flavored water and fruit-infused drinks. Additionally, there is a growing interest in functional beverages that offer specific health benefits, such as energy drinks and sports drinks. These changing preferences reflect a global trend towards healthier lifestyles and the increasing awareness of the negative effects of sugary drinks on health. Trends in the Soft Drinks market in Guatemala also reflect global market developments. There has been a rise in the popularity of premium and artisanal soft drinks, as consumers seek unique and high-quality products. Craft sodas and small-batch beverages are gaining traction among consumers who are looking for more sophisticated and flavorful options. This trend is driven by a desire for a more personalized and elevated drinking experience. Local special circumstances in Guatemala have also contributed to the growth of the Soft Drinks market. The country has a young and growing population, with a large proportion of the population under the age of 30. This demographic group is more likely to consume soft drinks and has a higher disposable income to spend on beverages. Additionally, Guatemala has a warm climate, which creates a higher demand for refreshing and hydrating drinks. This combination of a young population and favorable weather conditions has created a conducive environment for the growth of the Soft Drinks market. Underlying macroeconomic factors have also played a role in the development of the Soft Drinks market in Guatemala. The country has experienced steady economic growth in recent years, which has led to an increase in consumer spending power. As disposable incomes rise, consumers have more money to spend on discretionary items such as soft drinks. Furthermore, the expanding middle class in Guatemala has contributed to the growth of the Soft Drinks market, as this demographic group has more purchasing power and a higher demand for convenience and indulgence. In conclusion, the Soft Drinks market in Guatemala is developing in response to changing customer preferences towards healthier and more premium options. Local special circumstances, such as a young population and a warm climate, have also contributed to the growth of the market. Additionally, underlying macroeconomic factors, including economic growth and an expanding middle class, have fueled the demand for soft drinks in Guatemala.

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.