Soft Drinks - Bangladesh

The Soft Drinks market in Bangladesh has been experiencing significant growth in recent years. Customer preferences have shifted towards healthier options, leading to an increase in demand for low-sugar and natural drinks. Additionally, the growing middle class and increasing disposable income have contributed to the expansion of the market. Customer preferences in the Soft Drinks market in Bangladesh have evolved to prioritize healthier options. Consumers are becoming more health-conscious and are looking for beverages that are low in sugar and artificial additives. This trend is driven by a growing awareness of the health risks associated with excessive sugar consumption. As a result, there has been a surge in demand for natural and organic soft drinks, as well as low-sugar alternatives. Trends in the Soft Drinks market in Bangladesh also reflect global and regional market developments. The rise of functional beverages, such as energy drinks and sports drinks, has gained popularity among consumers who are seeking products that provide additional benefits beyond hydration. These functional drinks often contain ingredients like vitamins, minerals, and herbal extracts, which are believed to enhance energy levels or support physical performance. Local special circumstances in Bangladesh further contribute to the growth of the Soft Drinks market. The country's hot and humid climate creates a high demand for refreshing beverages. Soft drinks, especially carbonated ones, are popular choices for consumers looking to quench their thirst and cool down. Additionally, the expanding urban population and increasing number of convenience stores and supermarkets have made soft drinks more accessible to a larger consumer base. Underlying macroeconomic factors also play a role in the development of the Soft Drinks market in Bangladesh. The country's economic growth, coupled with rising disposable incomes, has led to an increase in consumer spending. As a result, consumers have more purchasing power to indulge in non-essential products like soft drinks. Furthermore, the growing middle class in Bangladesh has created a larger consumer base for soft drink companies to target. In conclusion, the Soft Drinks market in Bangladesh is experiencing growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Consumers are increasingly opting for healthier options, such as low-sugar and natural drinks, while also embracing functional beverages. The hot climate and expanding urban population further contribute to the demand for soft drinks. Additionally, the country's economic growth and rising disposable incomes have increased consumer spending, creating opportunities for the soft drink industry to thrive.

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.