Juices - Montenegro

The Juices market in Montenegro has been experiencing steady growth in recent years.

Customer preferences: Montenegrin consumers have shown a growing preference for healthier beverage options, which has contributed to the increasing demand for juices. With rising health consciousness and a growing awareness of the benefits of consuming fruits and vegetables, consumers are actively seeking out juices as a convenient way to incorporate more nutrients into their diets. Additionally, the younger generation in Montenegro is more inclined towards natural and organic products, further driving the demand for juices made from fresh, locally sourced ingredients.

Trends in the market: One of the prominent trends in the Montenegrin juices market is the growing popularity of cold-pressed juices. Cold-pressed juices are made by using a hydraulic press to extract juice from fruits and vegetables, which helps preserve the nutrients and flavors without the need for pasteurization. This trend aligns with the increasing consumer demand for healthier and more natural products. Cold-pressed juices are often marketed as being free from additives and preservatives, appealing to health-conscious consumers. Another trend in the Montenegrin juices market is the introduction of innovative flavors and blends. Juice manufacturers are constantly exploring new combinations of fruits and vegetables to create unique and refreshing flavors. This trend caters to consumers who are looking for variety and novelty in their beverage choices. Additionally, the introduction of exotic fruits and superfoods in juices has gained popularity among consumers who are seeking functional beverages with added health benefits.

Local special circumstances: Montenegro's favorable climate and fertile soil provide ideal conditions for the cultivation of a wide variety of fruits. This abundance of fresh produce allows local juice manufacturers to source high-quality ingredients locally, which resonates well with consumers who prioritize supporting local businesses and sustainable practices. The availability of locally sourced fruits also ensures that the juices are made from fresh and seasonal produce, enhancing their taste and nutritional value.

Underlying macroeconomic factors: Montenegro's growing economy and increasing disposable income have played a significant role in the development of the juices market. As consumers have more purchasing power, they are willing to spend on premium and healthier beverage options such as juices. Additionally, the growth of the tourism industry in Montenegro has also contributed to the demand for juices, as tourists seek refreshing and healthy drinks during their visits. In conclusion, the Juices market in Montenegro is witnessing growth due to changing customer preferences towards healthier options, including cold-pressed juices, and the introduction of innovative flavors. Local circumstances such as the availability of fresh and locally sourced ingredients further support the development of the market. The underlying macroeconomic factors, including the growing economy and increasing disposable income, also contribute to the rising demand for juices in Montenegro.

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.