Non-Alcoholic Drinks - Uruguay

The Non-Alcoholic Drinks market in Uruguay has been experiencing steady growth in recent years. Customer preferences have shifted towards healthier beverage options, driving the demand for non-alcoholic drinks. Additionally, local special circumstances and underlying macroeconomic factors have also played a role in the development of the market. Customer preferences in Uruguay have been shifting towards healthier beverage options. With a growing awareness of the importance of a healthy lifestyle, consumers are increasingly seeking non-alcoholic drinks that are low in sugar and artificial additives. This has led to an increased demand for natural and organic beverages, such as fruit juices, herbal teas, and functional drinks. Furthermore, there has been a growing interest in plant-based beverages, as consumers look for alternatives to traditional dairy products. These changing preferences have created opportunities for companies to innovate and introduce new products that cater to the health-conscious consumer. In addition to changing customer preferences, local special circumstances have also contributed to the development of the Non-Alcoholic Drinks market in Uruguay. The country has a rich agricultural sector, with a wide variety of fruits and herbs that can be used to produce beverages. This has allowed local companies to source high-quality ingredients locally, resulting in a competitive advantage in terms of product quality and freshness. Furthermore, Uruguay has a strong tradition of mate consumption, a traditional South American drink made from the leaves of the yerba mate plant. Mate has gained popularity not only in Uruguay but also in other countries, driving the demand for mate-based beverages. Underlying macroeconomic factors have also played a role in the growth of the Non-Alcoholic Drinks market in Uruguay. The country's economy has been relatively stable in recent years, with a growing middle class and increasing disposable income. This has resulted in higher purchasing power and a greater willingness to spend on premium and healthier beverage options. Additionally, the government has implemented policies to promote local production and consumption, which has further supported the growth of the non-alcoholic drinks industry. In conclusion, the Non-Alcoholic Drinks market in Uruguay has experienced growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for healthier beverage options, the availability of local ingredients, and a stable economy have all contributed to the development of the market. As consumer awareness of health and wellness continues to grow, it is expected that the Non-Alcoholic Drinks market in Uruguay will continue to 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.