Bottled Water - Slovakia

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

Customer preferences: One of the main reasons for this growth is the changing preferences of customers. In Slovakia, there has been a shift towards healthier lifestyles and increased awareness of the importance of hydration. Bottled water is seen as a convenient and portable way to stay hydrated, especially for those who are constantly on the go. Additionally, concerns about the quality and safety of tap water have also contributed to the growing demand for bottled water.

Trends in the market: The market for bottled water in Slovakia has been driven by several key trends. Firstly, there has been a rise in the consumption of flavored and functional waters. Consumers are looking for more than just plain water and are increasingly opting for products that offer additional health benefits or flavors. This trend is in line with the global market, where flavored and functional waters are also gaining popularity. Another trend in the market is the increasing demand for premium and high-end bottled water products. Consumers are willing to pay a premium for bottled water that is sourced from natural springs or has unique properties. This trend reflects the growing consumer interest in quality and sustainability.

Local special circumstances: Slovakia has a rich natural landscape, with many natural springs and mineral water sources. This has led to the development of a strong domestic bottled water industry, with several local brands dominating the market. These brands often highlight the natural and pristine qualities of their water sources, appealing to consumers who prefer locally sourced products.

Underlying macroeconomic factors: The growing bottled water market in Slovakia can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income. As a result, consumers have more purchasing power and are willing to spend on premium products like bottled water. In conclusion, the Bottled Water market in Slovakia is developing due to changing customer preferences, including a shift towards healthier lifestyles and increased awareness of the importance of hydration. The market is also driven by trends such as the consumption of flavored and functional waters, as well as the demand for premium and high-end products. The local special circumstances, such as the abundance of natural springs and mineral water sources, have further contributed to the growth of the market. Finally, favorable macroeconomic factors, including steady economic growth and increased disposable income, have also played a role in the 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.