Juices - Nordics

The Juices market in Nordics has been experiencing significant growth in recent years.

Customer preferences: Consumers in the Nordics have shown a strong preference for healthy and natural products, and this has influenced their choices in the Juices market. They are increasingly seeking out juices that are made with real fruits and contain no artificial additives or preservatives. Additionally, there is a growing demand for organic and locally sourced juices, as consumers are becoming more conscious of the environmental impact of their food choices.

Trends in the market: One of the key trends in the Juices market in the Nordics is the rise of functional juices. These are juices that are fortified with vitamins, minerals, and other beneficial ingredients to provide specific health benefits. For example, there has been a growing demand for juices that are high in antioxidants, which are believed to have various health benefits. This trend is driven by consumers' increasing interest in maintaining a healthy lifestyle and preventing diseases. Another trend in the market is the popularity of juice blends. Consumers are increasingly looking for unique and exotic flavors, and juice blends offer a way to combine different fruits and create new taste experiences. This trend is also influenced by the growing interest in international cuisines and flavors in the Nordics.

Local special circumstances: The Nordics have a strong tradition of consuming juices, particularly during the summer months. This is due to the long daylight hours and the abundance of fresh fruits available during this time. In addition, the region's cold climate makes hot beverages less appealing, leading to a higher consumption of juices throughout the year.

Underlying macroeconomic factors: The growing Juices market in the Nordics can be attributed to several macroeconomic factors. Firstly, the region has a high disposable income, which allows consumers to spend more on premium and healthier food products. Secondly, the Nordics have a well-developed retail infrastructure, with a wide range of supermarkets and convenience stores that offer a variety of juices. This makes it easier for consumers to access and purchase juices. In conclusion, the Juices market in the Nordics is experiencing growth due to the preferences of consumers for healthy and natural products, the rise of functional juices and juice blends, the local tradition of consuming juices, and the region's high disposable income and well-developed retail infrastructure.

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.