Soft Drinks - Armenia

The Soft Drinks market in Armenia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Armenia have shifted towards healthier beverage options, with a growing demand for natural and low-sugar drinks. This trend is in line with global consumer preferences, as people become more health-conscious and seek out products that align with their wellness goals. As a result, there has been an increased demand for bottled water, flavored water, and natural fruit juices in Armenia. Trends in the market also reflect a growing interest in innovative and unique soft drink options. Consumers are looking for new flavors and experiences, which has led to the introduction of a variety of flavored soft drinks and functional beverages in the market. This trend is driven by the desire for novelty and the influence of global beverage trends. Local special circumstances in Armenia, such as the country's rich agricultural resources, have also contributed to the development of the Soft Drinks market. Armenia is known for its high-quality fruits and berries, which are used in the production of natural juices and flavored soft drinks. The availability of local ingredients has allowed for the creation of unique and authentic Armenian soft drink brands. Underlying macroeconomic factors have played a role in the growth of the Soft Drinks market in Armenia. The country's improving economy and rising disposable incomes have increased consumer purchasing power, enabling more people to afford soft drinks as part of their regular consumption. Additionally, the tourism industry in Armenia has been growing, attracting visitors from around the world who are interested in experiencing the local culture and cuisine, including soft drinks. In conclusion, the Soft Drinks market in Armenia is developing in response to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for healthier beverage options, innovative flavors, and authentic Armenian products has driven the growth of the market. As the economy continues to improve and consumer purchasing power increases, the Soft Drinks market in Armenia is expected to further expand in the coming years.

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.