Soft Drinks - Mongolia

The Soft Drinks market in Mongolia has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Mongolia have shifted towards healthier beverage options, with consumers increasingly seeking out soft drinks that are low in sugar and calories. This trend mirrors the global shift towards healthier lifestyles and the growing concern over the impact of sugary drinks on health. As a result, we have seen an increase in the demand for low-sugar and zero-calorie soft drinks in Mongolia. In addition to healthier options, there has been a growing demand for functional beverages in Mongolia. Functional beverages are those that offer additional health benefits beyond basic hydration. This trend can be attributed to the increasing health consciousness among consumers and the desire for products that provide specific health benefits, such as improved digestion or increased energy. Another trend in the Soft Drinks market in Mongolia is the rising popularity of locally produced beverages. Mongolian consumers have shown a preference for locally sourced and produced products, as they are seen as more authentic and supportive of the local economy. This trend is in line with the global movement towards supporting local businesses and reducing the carbon footprint associated with imported goods. Local special circumstances in Mongolia have also played a role in the development of the Soft Drinks market. The country's harsh climate and nomadic lifestyle have created a unique market environment. Soft drinks that can withstand extreme temperatures and are portable for on-the-go consumption are particularly popular in Mongolia. Additionally, the nomadic lifestyle of many Mongolian consumers has led to a demand for soft drinks that can provide quick and convenient hydration. Underlying macroeconomic factors have also contributed to the growth of the Soft Drinks market in Mongolia. The country's improving economic conditions have resulted in increased disposable income among consumers, allowing them to spend more on non-essential items such as soft drinks. Additionally, the expanding middle class in Mongolia has created a larger consumer base for soft drink companies to target. In conclusion, the Soft Drinks market in Mongolia is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for healthier and functional beverages, as well as locally produced soft drinks, has driven market growth. The unique market environment in Mongolia, characterized by a harsh climate and nomadic lifestyle, has also influenced consumer preferences. Finally, the improving economic conditions and expanding middle class in Mongolia have created a larger consumer base for soft drink companies to target.

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.