Bottled Water - Mexico

The Bottled Water market in Mexico 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 Mexico. As people become more health-conscious, they are opting for bottled water as a healthier alternative to sugary beverages. Additionally, the convenience of bottled water has also contributed to its popularity, as it can be easily carried and consumed on-the-go.

Trends in the market: Another trend that has been observed in the Bottled Water market in Mexico is the increasing demand for premium and flavored water. Consumers are willing to pay a higher price for bottled water that offers additional benefits, such as enhanced flavors or added vitamins and minerals. This trend is driven by the desire for a more enjoyable drinking experience and the perception that these products are healthier.

Local special circumstances: Mexico has a hot climate, which makes bottled water a necessity for many people. The high temperatures and humidity levels in the country make it important for individuals to stay hydrated throughout the day. As a result, the demand for bottled water is consistently high, regardless of seasonality.

Underlying macroeconomic factors: The growing middle class in Mexico has also played a role in the development of the Bottled Water market. As disposable incomes rise, more people are able to afford bottled water on a regular basis. Additionally, the increasing urbanization in the country has led to a shift in lifestyle and dietary habits, with more people opting for bottled water as a healthier choice. In conclusion, the Bottled Water market in Mexico is experiencing growth due to changing consumer preferences, including a shift towards healthier options and the convenience of bottled water. The demand for premium and flavored water is also on the rise. The hot climate in Mexico and the growing middle class are additional factors driving 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.