Bottled Water - Chile

The Bottled Water market in Chile has been experiencing significant growth in recent years.

Customer preferences: Chilean consumers have shown a growing preference for bottled water over other beverages. This can be attributed to several factors, including increasing health consciousness and a desire for convenience. Bottled water is often perceived as a healthier alternative to sugary drinks, and consumers are becoming more aware of the importance of staying hydrated. Additionally, the convenience of bottled water makes it a popular choice for on-the-go consumption.

Trends in the market: One of the key trends in the Chilean bottled water market is the rise of premium and flavored water products. Consumers are willing to pay a premium for bottled water that is perceived as higher quality or offers a unique flavor experience. This trend can be seen in the increasing number of premium and flavored water brands entering the market, as well as the expansion of existing brands to include these products. Another trend in the market is the growing popularity of environmentally friendly packaging options. With increasing awareness of the environmental impact of plastic waste, consumers are seeking out bottled water brands that use sustainable packaging materials, such as recycled plastic or biodegradable materials. This trend is driving innovation in packaging design and materials, as companies strive to meet consumer demand for more eco-friendly options.

Local special circumstances: Chile's geography and climate play a role in the development of the bottled water market. The country has a diverse range of landscapes, including the Andes Mountains and the Atacama Desert, which can experience extreme temperatures and limited access to clean water sources. This creates a demand for bottled water as a reliable and safe source of hydration, particularly in remote or arid areas. Additionally, Chile has a strong tourism industry, with millions of visitors each year. Tourists often prefer to drink bottled water to ensure their health and safety, particularly in areas where the tap water may not be potable. This influx of tourists contributes to the overall demand for bottled water in the country.

Underlying macroeconomic factors: Chile has experienced steady economic growth in recent years, which has contributed to an increase in disposable income and consumer purchasing power. As a result, consumers have more discretionary income to spend on beverages, including bottled water. This economic growth has also led to an expanding middle class, which has further fueled the demand for bottled water. In conclusion, the Bottled Water market in Chile is growing due to changing customer preferences, including a preference for healthier beverages and convenience. The market is also influenced by local special circumstances, such as Chile's geography and tourism industry. Additionally, underlying macroeconomic factors, such as economic growth and increasing disposable income, contribute to the growth 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.