Soft Drinks - Norway

The Soft Drinks market in Norway has experienced significant growth in recent years, driven by changing consumer preferences and a growing focus on health and wellness.

Customer preferences: Norwegian consumers have become increasingly health-conscious in recent years, leading to a shift in preferences towards healthier beverage options. As a result, there has been a growing demand for low-sugar and natural soft drinks, such as flavored water and organic juices. Consumers are also seeking out drinks that are free from artificial additives and preservatives.

Trends in the market: One of the key trends in the Soft Drinks market in Norway is the increasing popularity of functional beverages. These are drinks that offer additional health benefits beyond hydration, such as energy-boosting or immune-boosting properties. Functional beverages, such as sports drinks and vitamin-infused waters, have gained traction among health-conscious consumers who are looking for convenient ways to support their overall well-being. Another trend in the market is the rise of premium and craft soft drinks. Norwegian consumers are willing to pay a premium for high-quality, artisanal beverages that offer unique flavors and ingredients. This trend is driven by a desire for more sophisticated and diverse beverage options, as well as a growing interest in supporting local and sustainable businesses.

Local special circumstances: Norway's unique geography and climate play a role in shaping the Soft Drinks market. The country's long winters and short summers mean that Norwegians have a strong tradition of consuming hot beverages, such as coffee and tea. However, there has been a shift towards cold beverages, particularly during the summer months, as consumers seek refreshing options to combat the warmer weather. This has created opportunities for soft drink manufacturers to introduce new and innovative products that cater to this seasonal demand.

Underlying macroeconomic factors: Norway's strong economy and high disposable income levels have contributed to the growth of the Soft Drinks market. With a high standard of living and a relatively affluent population, Norwegian consumers have the means to spend on premium and healthier beverage options. Additionally, the government's focus on promoting a healthy lifestyle and reducing sugar consumption has also played a role in shaping consumer preferences and driving demand for healthier soft drinks. In conclusion, the Soft Drinks market in Norway is experiencing growth due to changing customer preferences towards healthier options, the rise of functional and premium beverages, local special circumstances, and underlying macroeconomic factors. As consumers continue to prioritize health and wellness, the market is likely to see further growth and innovation in the coming years.

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.