Bottled Water - Bulgaria

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

Customer preferences: Bulgarian consumers have shown a growing preference for bottled water over other beverages. This can be attributed to several factors. Firstly, there has been an increased awareness about the importance of hydration and the health benefits of drinking water. As a result, many consumers are choosing to replace sugary drinks with bottled water as a healthier alternative. Additionally, the convenience and portability of bottled water make it a popular choice among busy individuals who are constantly on the go.

Trends in the market: One of the key trends in the Bulgarian Bottled Water market is the rise of premium and functional water products. Consumers are increasingly seeking out bottled water that offers additional benefits, such as enhanced flavors, added vitamins and minerals, or alkaline properties. This trend is driven by the growing interest in health and wellness, as well as the desire for unique and differentiated products. As a result, companies in the market are introducing a wide range of innovative bottled water options to cater to these evolving consumer preferences. Another trend in the market is the increasing popularity of sustainable packaging. Bulgarian consumers are becoming more environmentally conscious and are actively seeking out bottled water brands that use eco-friendly packaging materials, such as recycled plastic or biodegradable materials. This trend is driven by the growing concern over plastic waste and its impact on the environment. As a result, companies in the Bottled Water market are adopting sustainable packaging practices to meet consumer demand and reduce their environmental footprint.

Local special circumstances: Bulgaria's tourism industry plays a significant role in driving the growth of the Bottled Water market. The country attracts a large number of tourists each year, many of whom prefer to drink bottled water for safety and convenience reasons. This influx of tourists creates a steady demand for bottled water throughout the year, especially during the peak tourist season. As a result, the Bottled Water market in Bulgaria benefits from both domestic and international consumers.

Underlying macroeconomic factors: The growing economy in Bulgaria has also contributed to the development of the Bottled Water market. As disposable incomes rise, consumers have more purchasing power to spend on discretionary items such as bottled water. Additionally, the increasing urbanization and modernization of the country have led to changes in lifestyle and dietary habits, with more people opting for convenience foods and beverages like bottled water. These underlying macroeconomic factors have created a favorable environment for the growth of the Bottled Water market in Bulgaria.

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.