Soft Drinks - Puerto Rico

The Soft Drinks market in Puerto Rico has been experiencing significant growth in recent years. Customer preferences in Puerto Rico have played a key role in driving the growth of the Soft Drinks market. Consumers in Puerto Rico have shown a strong preference for carbonated soft drinks, which has contributed to the overall growth of the market. Additionally, there is a growing demand for healthier beverage options, such as low-sugar or sugar-free drinks, which has led to the introduction of new products in the market. One of the key trends in the Soft Drinks market in Puerto Rico is the increasing popularity of flavored carbonated drinks. Consumers are looking for new and unique flavors, and companies in the market are responding to this demand by introducing a wide range of flavored carbonated drinks. This trend has not only attracted new customers but has also increased the loyalty of existing customers. Another trend in the market is the growing demand for ready-to-drink (RTD) beverages. Consumers in Puerto Rico are increasingly looking for convenience and on-the-go options, and RTD beverages provide them with a convenient solution. This trend has led to the introduction of a variety of RTD beverages in the market, including iced teas, energy drinks, and flavored water. Local special circumstances in Puerto Rico have also influenced the development of the Soft Drinks market. One of the key factors is the island's warm climate, which has created a high demand for refreshing and hydrating beverages. Soft drinks are seen as a popular choice for quenching thirst and providing a refreshing experience in the hot weather. Underlying macroeconomic factors have also played a role in the growth of the Soft Drinks market in Puerto Rico. The island has experienced economic stability in recent years, which has led to an increase in disposable income for consumers. This has allowed consumers to have more purchasing power and spend more on soft drinks. Additionally, the tourism industry in Puerto Rico has been growing, attracting more visitors to the island who contribute to the demand for soft drinks. In conclusion, the Soft Drinks market in Puerto Rico is experiencing growth due to customer preferences for carbonated soft drinks and the demand for healthier beverage options. The market is also driven by trends such as flavored carbonated drinks and ready-to-drink beverages. The island's warm climate and economic stability contribute to the growth of the market, as consumers seek refreshing and convenient 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.