Non-Alcoholic Drinks - Montenegro

Montenegro, a small country located in the Balkans, has seen a significant development in its Non-Alcoholic Drinks market in recent years. Customer preferences in Montenegro have shifted towards healthier and more natural beverage options. This trend is in line with the global movement towards healthier lifestyles and the increasing awareness of the negative health effects of sugary drinks. Consumers in Montenegro are now seeking out beverages that are low in sugar, free from artificial additives, and made from natural ingredients. This shift in customer preferences has led to a rise in the demand for natural fruit juices, herbal teas, and flavored water in the country. One of the key trends in the Non-Alcoholic Drinks market in Montenegro is the growing popularity of locally produced beverages. Montenegrin consumers are increasingly interested in supporting local businesses and buying products that are made in their own country. This trend has created opportunities for small-scale producers of non-alcoholic drinks to enter the market and compete with larger international brands. Local beverages that highlight traditional Montenegrin flavors and ingredients have gained a loyal following among consumers, contributing to the overall growth of the market. Another trend in the market is the increasing availability and variety of non-alcoholic drinks in Montenegro. Supermarkets, convenience stores, and specialty beverage shops have expanded their offerings to cater to the growing demand for these products. This has made it easier for consumers to find a wide range of non-alcoholic beverages, including both local and international brands. The increased availability and variety of options have further fueled the growth of the market and provided consumers with more choices to suit their preferences. Local special circumstances in Montenegro have also played a role in the development of the Non-Alcoholic Drinks market. The country's tourism industry, which attracts a large number of visitors each year, has contributed to the demand for non-alcoholic beverages. Tourists, especially those from Western European countries, often have different drinking habits and preferences compared to the local population. This has created a market for non-alcoholic drinks that cater to the tastes and preferences of international visitors. Underlying macroeconomic factors have also influenced the development of the Non-Alcoholic Drinks market in Montenegro. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. As a result, consumers in Montenegro have more purchasing power and are able to afford a wider range of non-alcoholic beverages. The growing middle class in the country has become a key target market for both local and international beverage companies, driving the expansion of the market. In conclusion, the Non-Alcoholic Drinks market in Montenegro has experienced significant development due to changing customer preferences, the popularity of local beverages, the increasing availability of non-alcoholic drinks, local special circumstances, and underlying macroeconomic factors. As consumers in Montenegro continue to prioritize healthier options and support local businesses, the market is expected to further grow and diversify in the coming years.

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.