Non-Alcoholic Drinks - Azerbaijan

The Non-Alcoholic Drinks market in Azerbaijan is experiencing steady growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Azerbaijan are shifting towards healthier beverage options, with a growing demand for non-alcoholic drinks. This can be attributed to increasing health consciousness among consumers, who are becoming more aware of the negative effects of alcohol consumption. As a result, there is a rising demand for non-alcoholic alternatives that offer similar taste experiences without the negative health implications. Trends in the market reflect this shift in customer preferences. There is a growing popularity of functional beverages, such as energy drinks and health-focused beverages, which offer additional benefits beyond hydration. These beverages often contain added vitamins, minerals, and other ingredients that are believed to enhance energy levels, improve cognitive function, or promote overall well-being. This trend is in line with the global market, where functional beverages have gained significant traction in recent years. Local special circumstances also contribute to the development of the Non-Alcoholic Drinks market in Azerbaijan. The country has a predominantly Muslim population, and Islamic dietary laws prohibit the consumption of alcohol. This creates a significant market opportunity for non-alcoholic beverages, as they cater to the cultural and religious preferences of the population. Additionally, Azerbaijan has a rich tradition of tea consumption, which further drives the demand for non-alcoholic beverages. Underlying macroeconomic factors also play a role in the growth of the Non-Alcoholic Drinks market in Azerbaijan. The country has experienced steady economic growth in recent years, resulting in an increase in disposable income and a higher standard of living for many consumers. This has led to an expansion of the middle class and an increase in purchasing power, allowing consumers to afford a wider range of beverage options. As a result, the demand for non-alcoholic drinks has grown, as consumers are willing to spend more on premium and healthier beverage choices. In conclusion, the Non-Alcoholic Drinks market in Azerbaijan is developing due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards healthier beverage options, the popularity of functional beverages, the cultural and religious preferences of the population, and the country's economic growth all contribute to the growth and development of the market.

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.