Soft Drinks - Ireland

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

Customer preferences: Irish consumers have shown a strong preference for healthier beverage options, which has led to an increase in demand for low-sugar and natural soft drinks. This trend is in line with global consumer preferences, as people become more health-conscious and seek out products that align with their wellness goals. Additionally, there has been a growing interest in functional beverages, such as energy drinks and sports drinks, which provide added benefits beyond hydration.

Trends in the market: One of the key trends in the Irish Soft Drinks market is the rise of craft and artisanal beverages. Consumers are increasingly seeking out unique and locally-produced drinks, which has created opportunities for smaller, niche brands to enter the market. This trend is driven by a desire for authenticity and a connection to local producers. As a result, there has been a proliferation of small-scale soft drink producers in Ireland, offering a wide range of innovative and high-quality products. Another trend in the market is the increasing popularity of premium and specialty soft drinks. Irish consumers are willing to pay a premium for drinks that offer unique flavors, high-quality ingredients, and innovative packaging. This trend is driven by a desire for a more elevated and indulgent drinking experience. As a result, we have seen the introduction of premium soft drink brands in Ireland, offering sophisticated and gourmet options that cater to the discerning tastes of consumers.

Local special circumstances: Ireland's strong agricultural sector has played a significant role in the development of the Soft Drinks market. The country's fertile land and favorable climate have allowed for the cultivation of a wide variety of fruits and herbs, which are used as key ingredients in many soft drinks. This has given Irish soft drink producers a competitive advantage, as they can source high-quality, locally-grown ingredients, which resonate with consumers who value sustainability and support for local farmers.

Underlying macroeconomic factors: The robust economic growth in Ireland has contributed to the expansion of the Soft Drinks market. As disposable incomes rise, consumers have more purchasing power and are willing to spend on premium and healthier beverage options. Additionally, the growth of the tourism industry in Ireland has also had a positive impact on the Soft Drinks market. Tourists are increasingly seeking out authentic and local experiences, which includes trying unique soft drink offerings. This has created a lucrative market for soft drink producers, who can capitalize on the influx of tourists by offering products that showcase Irish culture and flavors. In conclusion, the Soft Drinks market in Ireland is experiencing growth due to changing consumer preferences, including a demand for healthier and more unique beverage options. The rise of craft and artisanal soft drinks, as well as the popularity of premium and specialty drinks, are key trends in the market. Ireland's strong agricultural sector and favorable economic conditions have also contributed to the growth 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.