Soft Drinks - Northern Europe

The Soft Drinks market in Northern Europe has been experiencing steady growth in recent years. Customer preferences in the region have shifted towards healthier options, with consumers increasingly seeking out low-sugar and natural ingredient beverages. This trend is driven by a growing awareness of the negative health effects of sugary drinks and a desire for more transparency in product ingredients. As a result, there has been a rise in demand for products such as bottled water, flavored water, and natural fruit juices. In addition to healthier options, convenience is also a key factor driving customer preferences in Northern Europe. Consumers are looking for beverages that can be easily consumed on the go, leading to an increase in demand for ready-to-drink products and single-serve packaging. This is particularly evident in urban areas where busy lifestyles and a focus on convenience have become the norm. Trends in the Soft Drinks market in Northern Europe also reflect global market developments. The rise of e-commerce and online grocery shopping has impacted the way consumers purchase soft drinks. Online platforms have made it easier for consumers to access a wider variety of products and compare prices, leading to increased competition among brands. This has resulted in a greater emphasis on product differentiation and innovation to attract and retain customers. Local special circumstances in Northern Europe also play a role in shaping the Soft Drinks market. The region's climate, with long and cold winters, has led to a strong tradition of hot beverages such as coffee and tea. However, there has been a shift towards cold beverages, particularly during the summer months. This has created opportunities for soft drink brands to introduce new flavors and products tailored to the local market. Underlying macroeconomic factors have also contributed to the development of the Soft Drinks market in Northern Europe. The region has a high GDP per capita, which has resulted in increased disposable income and consumer spending. This has allowed consumers to prioritize quality and health when making purchasing decisions, driving the demand for premium and healthier soft drink options. Additionally, the region's stable economy and strong social welfare system have created a favorable business environment for soft drink companies, encouraging investment and innovation in the market. Overall, the Soft Drinks market in Northern Europe is evolving to meet the changing preferences of consumers. The demand for healthier and more convenient options, as well as the influence of global market trends, are driving the growth and development of the market. With a focus on quality, innovation, and meeting local preferences, soft drink companies in the region are well-positioned to capitalize on these trends and continue to thrive.

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.