Ameliorating Demand for Fortified Beverages in Slovakia: Ken Research
Posted on 11 August 2017 by KenResearch Food and Beverage,
The past years saw a positive growth for most of the health and wellness categories due to growing awareness for health among Slovakians. Due to a growth in the average disposable incomes of the people, the consumers in Slovakia were able and willing to pay more for such products which are healthy for them and their families. Some of the major companies went for product localization resulting in decline in prices of some product categories. The decline in prices negatively affected the value growth. In spite of this, most of the product categories achieved positive growth.
The report titled “Fortified/Functional Beverages in Slovakia” provides a detailed and in-depth analysis of the Slovak Fortified/Functional beverages market by giving the shape and size of the market. It provides the forecast of the future for the market thus providing the trajectory the market is expected to take in the near future and also helps in identifying the sectors that have the most potential for growth.
The increasing health awareness among Slovakian people as well as the growing economic environment has led to increased demand consumption of the fortified/functional beverages of good quality with ingredients that can provide nutrition and various type health benefits like strengthening the immune system. This has resulted in an increased performance of the fortified/functional beverages and in a good growth in the sales in terms of value in the year 2016.
The leading player in the market for the fortified/functional beverages has prolonged to be- Kofola which has held about a fifth of the market in the country. The company has benefited from its strong focus on product innovation thus rolling out drinks with active and nutritional ingredients like minerals and vitamins and having lots of health benefits. The main products in the product portfolio of Kofola are the Rajec, a bottled water brand and Jupik, a juice brand for children. Kofola’s strong marketing campaigns, advertisements of products on television and in the stores have made both of its brands popular and well known in the country.
The expected economic growth of the country is expected to continue benefitting the fortified/functional beverages market in Slovakia. This will result in an increased demand for the products of high quality and having high mineral and vitamin content.
The rising interest among consumers in various sports activities will require them to keep their bodies healthy and fit and even take care of their nutritional well-being which will fuel the demand in the fortified/functional beverages and lead the market towards growth.
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