Soft Drinks - Papua New Guinea

The Soft Drinks market in Papua New Guinea has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for this growth is the changing preferences of consumers in Papua New Guinea. As the country becomes more urbanized and modernized, there is a growing demand for convenience and ready-to-drink beverages. Consumers are increasingly looking for beverages that are refreshing, convenient, and can be consumed on-the-go. This has led to a rise in the consumption of soft drinks, which offer a wide variety of flavors and packaging options to cater to different consumer preferences.

Trends in the market: One of the key trends in the Soft Drinks market in Papua New Guinea is the increasing popularity of carbonated soft drinks. Carbonated soft drinks have long been a favorite among consumers in the country, and their demand continues to grow. This can be attributed to the refreshing taste and wide range of flavors available in carbonated soft drinks. Additionally, the affordability and accessibility of these beverages have also contributed to their popularity. Another trend in the market is the rising demand for healthier and natural beverages. As consumers become more health-conscious, there is a growing preference for beverages that are low in sugar and artificial additives. This has led to an increase in the consumption of natural and organic soft drinks, which are perceived to be healthier options. Manufacturers have responded to this trend by introducing a variety of natural and low-sugar soft drinks to cater to the changing preferences of consumers.

Local special circumstances: Papua New Guinea is a country with a diverse cultural heritage, and this diversity is reflected in the Soft Drinks market. There is a wide range of local and traditional beverages that are popular among consumers, such as coconut water and fruit juices. These beverages are often made using locally sourced ingredients and traditional production methods, which adds to their appeal. Additionally, the cultural significance of these beverages also plays a role in their popularity, as they are often consumed during special occasions and celebrations.

Underlying macroeconomic factors: The Soft Drinks market in Papua New Guinea is also influenced by underlying macroeconomic factors. The country has been experiencing steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has had a positive impact on the Soft Drinks market, as consumers have more purchasing power to spend on non-essential items such as beverages. Additionally, the growing urban population and the increasing number of modern retail outlets have also contributed to the growth of the market, as they provide greater access to a wide range of soft drink options.

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.