Non-Alcoholic Drinks - Hungary

The Non-Alcoholic Drinks market in Hungary has been experiencing significant growth in recent years.

Customer preferences: Hungarian consumers have been increasingly opting for healthier beverage options, which has led to a surge in demand for non-alcoholic drinks. This shift in consumer preferences can be attributed to a growing awareness of the health benefits associated with consuming non-alcoholic beverages. Additionally, there has been a rise in the number of individuals adopting vegetarian or vegan diets, further driving the demand for non-alcoholic drinks.

Trends in the market: One of the key trends in the Non-Alcoholic Drinks market in Hungary is the increasing popularity of functional beverages. These beverages are specially formulated to provide additional health benefits, such as improved digestion, increased energy, and enhanced mental focus. Functional beverages often contain ingredients like vitamins, minerals, and herbal extracts, which are believed to have positive effects on the body. The demand for functional beverages has been driven by health-conscious consumers who are seeking products that not only quench their thirst but also provide added nutritional value. Another trend in the market is the growing popularity of natural and organic non-alcoholic drinks. Consumers are becoming more conscious of the ingredients used in their beverages and are actively seeking out products that are free from artificial additives, preservatives, and sweeteners. This trend is in line with the overall shift towards healthier lifestyles and a preference for natural and organic products.

Local special circumstances: Hungary has a rich cultural heritage and a strong tradition of producing beverages, including fruit juices and herbal infusions. This has contributed to the availability of a wide range of non-alcoholic drinks in the market. Local brands have capitalized on this heritage by offering traditional Hungarian beverages that appeal to both domestic and international consumers. These products often highlight the use of locally sourced ingredients and traditional production methods, which adds to their appeal.

Underlying macroeconomic factors: The growing Non-Alcoholic Drinks market in Hungary can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income levels. As a result, consumers have more purchasing power and are willing to spend on premium non-alcoholic beverages. Additionally, Hungary has a well-developed retail infrastructure, with a wide range of stores and supermarkets offering a variety of non-alcoholic drinks. This accessibility has further contributed to the growth of the market. In conclusion, the Non-Alcoholic Drinks market in Hungary is witnessing significant growth due to changing customer preferences, including a shift towards healthier beverage options. Functional beverages and natural/organic drinks are particularly popular among consumers. The country's cultural heritage and favorable macroeconomic factors have also played a role in driving the market growth.

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.