Soft Drinks - Nordics

The Soft Drinks market in Nordics has been experiencing significant growth in recent years, driven by changing customer preferences and a focus on healthier beverage options. Customer preferences in the Soft Drinks market in Nordics have shifted towards healthier and more natural options. Consumers are increasingly seeking beverages that are low in sugar, free from artificial ingredients, and made with natural flavors and ingredients. This trend is driven by a growing awareness of the health risks associated with high sugar consumption and a desire for more transparency in food and beverage products. As a result, there has been a rise in demand for low-calorie and sugar-free soft drinks, as well as an increase in the popularity of natural and organic beverages. Trends in the market include the introduction of new product innovations and flavors to cater to changing customer preferences. Soft drink manufacturers in Nordics are launching new products that are aligned with the growing demand for healthier options. This includes the development of beverages that are made with natural sweeteners, such as stevia or fruit extracts, as well as the introduction of functional beverages that offer additional health benefits, such as enhanced hydration or improved digestion. In addition, there has been a rise in the popularity of craft and artisanal soft drinks, which are often made with locally sourced ingredients and offer unique flavor profiles. Local special circumstances in the Soft Drinks market in Nordics include the region's strong focus on sustainability and environmental responsibility. Nordic consumers are known for their commitment to sustainable living and are increasingly seeking out products that align with their values. This has led to a rise in demand for soft drinks that are packaged in recyclable or biodegradable materials, as well as beverages that are produced using sustainable farming practices. In addition, there is a growing interest in locally produced soft drinks, as consumers value supporting local businesses and reducing the carbon footprint associated with long-distance transportation. Underlying macroeconomic factors that have contributed to the growth of the Soft Drinks market in Nordics include a strong economy and high disposable incomes. The Nordic countries have a high standard of living and consumers have the financial means to spend on premium and higher-priced soft drink options. In addition, the region's well-developed retail infrastructure and efficient distribution networks have made it easier for soft drink manufacturers to reach consumers and expand their market presence. In conclusion, the Soft Drinks market in Nordics is experiencing growth due to changing customer preferences towards healthier options, the introduction of new product innovations, a focus on sustainability, and the region's strong economy. Soft drink manufacturers in Nordics are adapting to these trends and catering to consumer demands for healthier, more natural, and environmentally-friendly beverages.

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.