Non-Alcoholic Drinks - Slovakia

The Non-Alcoholic Drinks market in Slovakia has been experiencing steady growth in recent years, driven by changing consumer preferences and increasing health consciousness.

Customer preferences: Slovak consumers are increasingly seeking healthier alternatives to traditional sugary drinks. They are becoming more aware of the negative health effects of excessive sugar consumption and are actively looking for beverages that offer health benefits. As a result, there is a growing demand for non-alcoholic drinks that are low in sugar, natural, and made with real fruit or herbal ingredients.

Trends in the market: One of the key trends in the Non-Alcoholic Drinks market in Slovakia is the rising popularity of functional beverages. Functional beverages are drinks that provide additional health benefits beyond basic hydration. These can include energy drinks, sports drinks, and beverages fortified with vitamins, minerals, or other functional ingredients. Slovak consumers are increasingly turning to these beverages to meet their specific health needs, such as boosting energy levels or improving digestion. Another trend in the market is the growing demand for premium and artisanal non-alcoholic drinks. Slovak consumers are willing to pay a premium for high-quality beverages that are made with natural ingredients and have unique flavors. This trend is driven by the desire for a more sophisticated and indulgent drinking experience, as well as the increasing influence of global food and beverage trends.

Local special circumstances: Slovakia has a strong tradition of herbal remedies and natural healing practices. This cultural heritage has contributed to the popularity of non-alcoholic drinks that are made with herbal ingredients and are believed to have health benefits. Slovak consumers have a preference for drinks that are perceived as being natural and have a long history of traditional use.

Underlying macroeconomic factors: The growing Non-Alcoholic Drinks market in Slovakia can also be attributed to favorable macroeconomic factors. The country has experienced stable economic growth in recent years, which has led to increased disposable income and higher consumer spending. As a result, consumers have more purchasing power to spend on premium and healthier beverages. In conclusion, the Non-Alcoholic Drinks market in Slovakia is developing due to changing consumer preferences for healthier and more natural beverages, the rising popularity of functional drinks, the demand for premium and artisanal options, as well as favorable macroeconomic factors.

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.