Juices - Bangladesh

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

Customer preferences: Bangladesh is a country with a hot and humid climate, making juices a popular choice among consumers to quench their thirst and stay hydrated. Additionally, there has been an increasing awareness among consumers about the health benefits of consuming juices, such as getting essential vitamins and minerals. As a result, there is a growing demand for natural and organic juices in the market.

Trends in the market: One of the key trends in the Juices market in Bangladesh is the rising popularity of fruit juices. Consumers are increasingly opting for fruit juices as a healthier alternative to carbonated drinks. In particular, juices made from local fruits such as mango, pineapple, and guava are in high demand due to their delicious taste and nutritional value. Another trend in the market is the growing popularity of packaged juices. This can be attributed to the increasing urbanization and changing lifestyles of consumers. Packaged juices offer convenience and are readily available in supermarkets and convenience stores across the country. Moreover, the availability of a wide range of flavors and variants has also contributed to the growth of the packaged juices market.

Local special circumstances: Bangladesh is an agricultural country with a rich variety of fruits. The availability of a wide range of fruits throughout the year has enabled the local juice manufacturers to produce juices using fresh and locally sourced fruits. This has not only ensured the quality and freshness of the juices but has also helped in keeping the prices affordable for the consumers.

Underlying macroeconomic factors: The growing middle-class population and increasing disposable incomes in Bangladesh have played a significant role in the growth of the Juices market. As consumers have more spending power, they are willing to spend on premium and healthier products, including juices. Additionally, the rapid urbanization and changing lifestyles have led to an increase in the demand for convenient and on-the-go food and beverages, which includes packaged juices. In conclusion, the Juices market in Bangladesh is experiencing growth due to the preferences of customers for fruit juices, the rising popularity of packaged juices, the availability of a wide range of fruits, and the underlying macroeconomic factors such as the growing middle-class population and increasing disposable incomes.

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.