East Europe Water Dispense Market Report 2023

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East Europe Water Dispense Market Report

ZENITH GLOBAL COMMERCIAL REPORT 2023 ZENITH GLOBAL

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Liability

This document contains information and may contain conclusions and recommendations. Every effort has been made to ensure that the information is accurate and that the opinions expressed are sound. However, Zenith Global Commercial Ltd cannot be made liable for any errors or omissions or for any losses or consequential losses resulting from decisions based on the information.

Important notice on distribution

This report should not be quoted, referred to or transmitted to another party, in whole or in part, without the prior written consent of Zenith Global Commercial Ltd. Should you desire to release a copy of this report to another party for information purposes, we request you and the requesting party to indemnify Zenith Global Commercial Ltd from any liability related to the report distribution. Such readers however will not be considered “users” of this report.

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Copyright

1. Introduction and scope

2. Water dispense regional market overview

2.1 Market totals

2.2 Price structure and revenue indicators

2.3 Industry structure

2.4 Forecast

3. Bottled water dispense analysis

4. Point of use analysis

5. Integrated tap systems analysis

© Zenith Global Commercial Ltd 2023
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Page
Contents
Section

Section

6. Country reports

Bulgaria

Czechia

Hungary

Poland

Romania

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Contents
Page
© Zenith Global Commercial Ltd 2023
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Page
Belarus Croatia Estonia Latvia Lithuania Russia Serbia Slovakia Slovenia Ukraine
Appendix
Contents
Section
7. Data reports
8.

Introduction and scope

© Zenith Global Commercial Ltd 2023
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Introduction and scope

Introduction

Zenith Global Commercial has actively reported on the European water dispense market for nearly thirty years, providing unparalleled insights into the market’s dynamics and evolution.

To reflect the evolution of water dispense, Zenith revised the report in 2019 to include specific coverage on integrated tap systems alongside more traditional bottle free point of use and bottle fed dispense units The reports also now feature increased focus on market insights and opportunities with channel-specific commentary.

In producing our reports, we aim to contact every significant company active in the appropriate sector and to provide as complete a picture as possible at a price accessible to any business with a serious commercial interest. We are particularly grateful for the help we have received from these companies in compiling this report. Where direct company figures are unavailable, best estimates have been provided

The East Europe Water Dispense Market Report 2023 contains text, charts and tables providing analysis of recent market developments and innovations and forecasts to 2027. This report represents exceptional coverage of the British water dispense market and we hope that you find it useful in your business planning. As our research is updated on a regular basis, we always welcome any comments or suggestions about possible improvements.

Scope

The 2023 report for East Europe covers water dispense units where the primary function is the dispense of filtered/purified water Specifically bottled water dispense units, mains fed point of use dispensers and multifunctional integrated tap systems dispensing cold, hot, boiling still and sparkling water are within the scope of this report. The addition, since 2019, of integrated tap systems represents the most significant revision of scope in the last decade and was revised in collaboration with industry leading companies to reflect the evolution and innovation of this market.

Whilst beverage and soda dispense units can dispense water, this is not their primary purpose and as such these “hybrid” machines are referenced, where applicable, in the market innovation section but are not quantified in the report. Equally, vending machines and water boilers are not in the scope of this report.

The East Europe Water Dispense Market Report covers Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia and Ukraine.

In addition to this report, regional coverage is also available for West Europe and the US

© Zenith Global Commercial Ltd 2023
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Definitions

Unit types

Water dispense: freestanding, countertop or under the sink/counter water dispense units where the primary function is the dispense of filtered or purified water Powered units dispensing ambient, cold, hot, boiling still and/or sparkling water are within the scope of this report as defined further below Bottled water dispense units (BWD): A unit that dispenses bottled mineral, spring or purified water that can be ambient, cold or hot, depending on machine functionality. Most commonly, water bottles or pouches are delivered direct to the customer by a distributor and empty bottles taken away. New bottles and pouches are either placed underneath the unit (bottom fed) or inverted and placed on top of the machine (top fed). For top fed coolers, a feed tube spike from the machine penetrates the watertight cap in the bottle and opens the valve within the cap, thereby allowing water to flow into the machine (or valve where just a pump is used). The same process is used with bottom fed water coolers with a pump to transfer the water to the point of dispense. The unit can be installed under a rental, lease or service agreement (considered “rental”) or purchased outright by the customer (considered “sold”, with or without a service contract). Bottle fed machines can be freestanding or countertop and are suitable for larger bottle or pouch formats greater than 10 litres, which are therefore larger than those distributed in small packaged formats through retail outlets

Pumps/ceramics (non-powered/non-installed systems) for formats above 10 litres are included at the topline for East Europe, where they have a significant market share.

Bottle-free Point of use units (POU): A device that is plumbed into a mains fed water supply, improving the quality of water via filtration or purification methods. These systems may utilise carbon filtration, combined/staged filtration, reverse osmosis (RO), Ozonation, and/or ultra violet (UV) technology to treat the water. Dispensed water can be ambient, cold, hot or sparkling, depending on machine functionality. Such machines have drip trays and some have drainage systems. Machines can be available as freestanding or countertop units. Large volume POU bottle fillers (BFS) are also included if they offer filtration/purification.

Bottle-free Integrated tap systems (ITS): A mains fed water system that filters or purifies mains water, adds functionality (hot/boiling/sparkling) and directs the water to the tap. Sometimes also called multifunctional taps. These systems may utilise carbon filtration, combined/staged filtration, reverse osmosis, Ozonation, and/or UV technology to treat the water. Dispensed water can be ambient, cold, hot, plus boiling or at various sparkling levels, depending on machine functionality. Three-way/mixer taps (dispensing cold, hot and filtered water only) are out of scope. The units are placed either under the sink or under the counter and are often referred to as ‘under counter’ or ‘under sink’ systems One unit in field is considered to include both the under sink unit and the tap attached. The report's scope includes only B2B units.

Out of scope: Units where water is dispensed but this is not their primary purpose: e.g. beverage and soda dispense units; automated vending machines that provide ready to drink hot and cold beverages, but whose primary purpose is not water vending; Flavoured water dispensers; Units where un-filtered or un-purified water is dispensed, whether chilled or ambient e.g. water fountains, domestic or commercial water filters for taps without added functionality; Water boilers where the primary function is to boil water for making hot drinks, but not chilled dispensed water; Whole home domestic POE filtration systems; Fridge dispensers, embedded filters and faucet-mounts; Non-installed dispense units, including jug filters or pitchers and soda makers.

© Zenith Global Commercial Ltd 2023
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Definitions

Channels

Workplace: Private and Public sector offices and workplaces including factories, municipal, government, armed forces, police, fire, prisons.

HoReCa: Hotels, Restaurants and Catering, including bars, pubs, nightclubs, foodservice, cafés.

Healthcare: Public and Private sector medical centres, hospitals, care homes, nursing homes.

Education: Public and Private sector schools, sixth form colleges, universities, nurseries.

Retail: Shops and showrooms.

Transport hubs: Airports, railway stations, coach/bus stations.

Leisure: Leisure centres, gyms, sports centres, swimming pools, activity centres.

Domestic: Residential homes (B2C).

© Zenith Global Commercial Ltd 2023
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Water dispense regional market overview

© Zenith Global Commercial Ltd 2023
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Water dispense regional market overview

2.1 Market totals

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2

East Europe

Market totals - Water dispense market evolution •

Water dispense market evolution, 2017-22

BWD units

POU units

Total revenue (€ mln)

Dispensers/pumps units

ITS units

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 € million Installed units
12
Commentary SAMPLE

East Europe

Market totals - Water dispense market evolution

Bottled water dispense (BWD) units

% growth

Dispensers/pumps units

% growth

Million litres

% growth

Point of use (POU) units

% growth

Integrated tap systems (ITS) units

% growth

Total units

% growth

BWD % share

Dispensers/pumps % share

POU % share

ITS % share

© Zenith Global Commercial Ltd 2023
2017 2018 2019 2020 2021 2022 17-22 CAGR 17-22 growth
13

East Europe

Market totals - Water dispense unit share

Water dispense market evolution, 2017-22

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 Installed units
BWD units Dispensers/pumps units POU units ITS units
14
SAMPLE

East Europe

Market totals - Water dispense total unit volume by country

Slovenia

Ukraine

East Europe

© Zenith Global Commercial Ltd 2023
2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 17-22 CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania Russia Serbia
Slovakia
15

East Europe

Market totals - Water dispense unit share by country

Water dispense share by country, 2022

Lithuania Poland Romania

Russia

Serbia

Slovakia

Slovenia

Ukraine

Bottled water dispense (BWD) units Dispensers/pumps units Point of use (POU) units Integrated tap systems (ITS) units

© Zenith Global Commercial Ltd 2023
Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia
16
SAMPLE

East Europe

Market totals - Regulatory environment

© Zenith Global Commercial Ltd 2023
• Commentary 17

Water dispense regional market overview

2.2 Price structure and revenue indicators

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East Europe

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and revenue indicators - Water dispense revenue evolution • Commentary SAMPLE 2017 2018 2019 2020 2021 2022 € million Water dispense revenue, 2017-22 BWD revenue (€ mln) POU revenue (€ mln) ITS revenue (€ mln) Total revenue (€ mln)
Price structure

East Europe

Price structure and revenue indicators - Average pricing

Bottled water dispensers

Average monthly rental (€)

Average 18.9l bottle price (€)

Total revenue (€ mln)

- revenue from rented units

- revenue from bulk bottled water sales

2021 2022

• Commentary

Point of use

Average monthly rental (€)

Average sales price per unit (€)

Total revenue (€ mln)

- revenue from rented units

- revenue from sold units

2021 2022

• Commentary

Integrated tap systems

Average monthly rental (€)

Average sales price per unit (€)

Total revenue (€ mln)

- revenue from rented units

- revenue from sold units

2021 2022

• Commentary

© Zenith Global Commercial Ltd 2023
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Water dispense regional market overview

2.3 Industry structure

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2

East Europe

Industry structure - Mergers and acquisitions

© Zenith Global Commercial Ltd 2023
• Commentary 22

East Europe

Industry structure - Key acquisitions

Key acquisitions

© Zenith Global Commercial Ltd 2023
Buyer Target Country/Region Date 23

East Europe

Industry structure - Bottled water dispense

© Zenith Global Commercial Ltd 2023
• Commentary 24

East Europe

Industry structure - Bottled water dispense top three groups

(1) Group 1

PL Company, Poland

RS Company, Serbia

BG Company, Bulgaria

BY Company, Belarus

SK Company Slovakia

SI Company Slovenia

HR Company, Croatia

(2) Group 2

CZ Company, Czechia

HU Company, Hungary

LV Company, Latvia

LT Company, Lithuania

RU Company, Russia

© Zenith Global Commercial Ltd 2023
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Units in December 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21

East Europe

Industry structure - Bottled water dispense top 25 national companies

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 26

East Europe

Industry structure - Bottled water dispense top 25 national companies

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 16 17 18 19 20 21 22 23 24 25
East Europe 27
Top 10 % share Top 25 % share Others

East Europe

Industry structure - Dispensers/pumps

© Zenith Global Commercial Ltd 2023
• Commentary 28

East Europe

Industry structure - Dispensers/pumps top 25 national companies

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 29

East Europe

Industry structure - Dispensers/pumps top 25 national companies

Top 10

% share

Top 25

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 16 17 18 19 20 21 22 23 24 25
East Europe 30
% share Others

East Europe

Industry structure - Bulk bottled water

© Zenith Global Commercial Ltd 2023
• Commentary 31

East Europe

Industry structure - Bulk bottled water top 25 national suppliers by volume

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 32

East Europe

Industry structure - Bulk bottled water top 25 national suppliers by volume

% share

Top 25

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 16 17 18 19 20 21 22 23 24 25
Top 10
East Europe 33
% share Others

East Europe

Industry structure - Point of use

© Zenith Global Commercial Ltd 2023
• Commentary 34

East Europe

Industry structure - Point of use top three groups

(1) Group 1

PL Company, Poland

RS Company, Serbia

BG Company, Bulgaria

BY Company, Belarus

SK Company Slovakia

SI Company Slovenia

HR Company, Croatia

(2) Group 2

CZ Company, Czechia

HU Company, Hungary

LV Company, Latvia

LT Company, Lithuania

RU Company, Russia

© Zenith Global Commercial Ltd 2023
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Units in December 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21

East Europe

Industry structure - Point of use top 25 national companies

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 36

East Europe

Industry structure - Point of use top 25 national companies

Top 10

% share

Top 25

% share Others

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 16 17 18 19 20 21 22 23 24 25
East Europe 37

East Europe

Industry structure - Integrated tap systems

© Zenith Global Commercial Ltd 2023
• Commentary 38

East Europe

Industry

structure - Integrated tap systems top two groups

(1) Group 1

PL Company, Poland

RS Company, Serbia

BG Company, Bulgaria

BY Company, Belarus

SK Company Slovakia

SI Company Slovenia

HR Company, Croatia

(2) Group 2

CZ Company, Czechia

HU Company, Hungary

LV Company, Latvia

LT Company, Lithuania

RU Company, Russia

© Zenith Global Commercial Ltd 2023
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Units in December 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21

East Europe

Industry structure - Integrated tap systems top 25 national companies

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 40

East Europe

Industry structure - Integrated tap systems top

25 national companies

Top 10

% share

Top 25

% share Others

© Zenith Global Commercial Ltd 2023
Rank Country Company 2017 2018 2019 2020 2021 2022 % share 2022 16 17 18 19 20 21 22 23 24 25
East Europe 41

East Europe

Industry structure - Innovation and disruption

Innovation: Covid-19 protection still important in 2021

• Commentary

Disruptor: Tap filters provide alternative solution in the at home channel

• Commentary

Innovation: Contactless smart tech increases hygiene in tap systems

Commentary

Innovation: Personalised coolers drive corporate appeal

• Commentary

Zip Hydratap Wave

© Zenith Global Commercial Ltd 2023
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East Europe

Industry structure - Innovation and disruption

Disruptor: Consumers demand greater choice

• Commentary

Innovation: Space is premium, driving demand for countertop POUs

• Commentary

Innovation: Tap solutions for HoReCa and for home

• Commentary

Zip Hydratap Wave

© Zenith Global Commercial Ltd 2023
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Water dispense regional market overview

2.4 Forecast

© Zenith Global Commercial Ltd 2023
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2

East Europe

Forecast - Water dispense market forecast

© Zenith Global Commercial Ltd 2023
• Commentary 45

East Europe

Forecast - Water dispense market forecast

Bottled water dispense (BWD) units

% growth

Dispensers/pumps units

% growth

Million litres

% growth

Point of use (POU) units

% growth

Integrated tap systems (ITS) units

% growth

Total units

% growth

BWD % share

Dispensers/pumps % share

POU % share

ITS % share

© Zenith Global Commercial Ltd 2023
2022 2023f 2024f 2025f 2026f 2027f 22-27f CAGR 22-27f growth
46

East Europe

Forecast - Water dispense unit share

© Zenith Global Commercial Ltd 2023 2022f 2023f 2024f
Installed units
2025f 2026f 2027f
BWD units Dispensers/pumps units POU units ITS units
Water dispense market evolution, 2022-27f
47
SAMPLE

East Europe

Forecast - Water dispense total unit volume by country

Slovakia

Slovenia

Ukraine

East

© Zenith Global Commercial Ltd 2023
2022 2023f 2024f 2025f 2026f 2027f % share 2022 % share 2027f 22-27f CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania
Russia Serbia
Europe 48

East Europe

Forecast - Water dispense unit share by country

Water dispense share by country, 2027f

Belarus

Bulgaria

Croatia

Czechia

Estonia

Hungary

Latvia

Lithuania

Poland

Romania

Russia

Serbia

Slovakia

Slovenia

Ukraine

Bottled water dispense (BWD) units Dispensers/pumps units Point of use (POU) units Integrated tap systems (ITS) units

© Zenith Global Commercial Ltd 2023
49
SAMPLE

East Europe

Forecast - Bottled water dispense units installed by country

Slovakia

Slovenia

Ukraine

East Europe

© Zenith Global Commercial Ltd 2023
2022 2023f 2024f 2025f 2026f 2027f % share 2021 % share 2027f 22-27f CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania
Russia Serbia
50

East Europe

Forecast - Dispensers/pumps units installed by country

Slovakia

Slovenia

Ukraine

East Europe

© Zenith Global Commercial Ltd 2023
2022 2023f 2024f 2025f 2026f 2027f % share 2021 % share 2027f 22-27f CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania
Russia Serbia
51

East Europe

Forecast - Bottled water dispense volume by country (million litres)

Latvia

Lithuania

Poland

Romania

Russia

Serbia

Slovakia

Slovenia

Ukraine

East Europe

© Zenith Global Commercial Ltd 2023
2022 2023f 2024f 2025f 2026f 2027f % share 2021 % share 2027f 22-27f CAGR Belarus Bulgaria Croatia
Czechia Estonia Hungary
52

East Europe

Forecast - Point of use units installed by country

Slovakia

Slovenia

Ukraine

East Europe

© Zenith Global Commercial Ltd 2023
2022 2023f 2024f 2025f 2026f 2027f % share 2021 % share 2027f 22-27f CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania
Russia Serbia
53

East Europe

Forecast - Integrated tap systems units installed by country

Slovakia

Slovenia

Ukraine

East Europe

© Zenith Global Commercial Ltd 2023
2022 2023f 2024f 2025f 2026f 2027f % share 2021 % share 2027f 22-27f CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania
Russia Serbia
54

East Europe

Forecast - Market developments

Covid impact on the water dispense sector in East Europe: Year 2 of the pandemic in 2021

• Commentary

• Russian invasion on Ukraine and its impact on the water dispense markets in East Europe

• Commentary

© Zenith Global Commercial Ltd 2023
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East Europe

Forecast - Units per capita

© Zenith Global Commercial Ltd 2023
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Units per '000 people 2017 2022 2027f 17-22 growth 22-27f growth Bottled water dispense Dispensers/pumps Point of use Integrated tap systems • Commentary

Bottled water dispense analysis

© Zenith Global Commercial Ltd 2023
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East Europe

Bottled water dispense - Market analysis

Market drivers and dynamics

• Commentary

Bottled water dispense units, 2017-22

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 BWD installed units
58
SAMPLE

East Europe

Bottled water dispense - Units installed by country

Slovenia

Ukraine East

© Zenith Global Commercial Ltd 2023
2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 17-22 CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania
Russia Serbia Slovakia
Europe 59

East Europe

Bottled water dispense - Dispensers/pumps analysis

Market drivers and dynamics

• Commentary

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 Dispensers/pumps installed units
units,
Dispensers/pumps
2017-22
60
SAMPLE

East Europe

Dispensers/pumps - Units installed by country

Slovenia

Ukraine

East Europe

© Zenith Global Commercial Ltd 2023
2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 17-22 CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania
Russia Serbia Slovakia
61

East Europe

Bottled water dispense - Volume analysis

Market drivers and dynamics

• Commentary

Bottled water dispense volume, 2017-22

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 Million litres
62
SAMPLE

East Europe

Bottled water dispense - Volume by country (million litres)

Poland

Romania

Russia

Serbia

Slovakia

Slovenia

Ukraine

East Europe

© Zenith Global Commercial Ltd 2023
2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 17-22 CAGR Belarus
Croatia
Bulgaria
Czechia Estonia Hungary Latvia Lithuania
63

East Europe

Bottled water dispense - Market structure: Throughput

© Zenith Global Commercial Ltd 2023
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Litres per dispense unit 18.9l bottles per unit per month 2021 2022 2021 2022 Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania Russia Serbia Slovakia Slovenia Ukraine East Europe • Commentary

East Europe

Bottled water dispense - Market structure: Cancellations

Belarus

Bulgaria

Croatia

Czechia

Estonia

Hungary

Latvia

Lithuania

Poland

Romania

Russia

Serbia

Slovakia

Slovenia

Ukraine

East Europe

© Zenith Global Commercial Ltd 2023
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2022
2021
• Commentary

Point of use analysis

© Zenith Global Commercial Ltd 2023
66 4

East Europe

Point of use - Market analysis

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 POU installed units
of use units,
Point
2017-22
67
SAMPLE
Market drivers and dynamics • Commentary

East Europe

Point of use - Units installed by country

Slovenia

Ukraine

East

© Zenith Global Commercial Ltd 2023
2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 17-22 CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania Russia Serbia
Slovakia
Europe 68

Integrated tap systems analysis

© Zenith Global Commercial Ltd 2023
69 5

East Europe

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 ITS installed units Integrated tap systems units, 2017-22
70
Market drivers and dynamics • Commentary SAMPLE
Integrated tap systems - Market analysis

East Europe

Integrated tap systems - Units installed by country

Slovenia

Ukraine

© Zenith Global Commercial Ltd 2023
2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 17-22 CAGR Belarus Bulgaria Croatia Czechia Estonia Hungary Latvia Lithuania Poland Romania Russia Serbia
Slovakia
71
East Europe

Country reports

© Zenith Global Commercial Ltd 2023
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Country reports

[COUNTRY]

© Zenith Global Commercial Ltd 2023
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6

[COUNTRY]

Market overview - Water dispense market evolution

• Commentary

Key acquisitions

• Commentary

Water dispense market evolution, 2017-22

BWD units

POU units

Total revenue (€ mln)

Dispensers/pumps units

ITS units

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 € million Installed units
74
SAMPLE

[COUNTRY]

Market overview - Water dispense market evolution

Bottled water dispense (BWD) units

% growth

Dispensers/pumps units

% growth

Million litres

% growth

Point of use (POU) units

% growth

Integrated tap systems (ITS) units

% growth

Total units

% growth

BWD % share

Dispensers/pumps % share

POU % share

ITS % share

© Zenith Global Commercial Ltd 2023
2017 2018 2019 2020 2021 2022 17-22 CAGR 17-22 growth
75

[COUNTRY]

Market overview - Water dispense revenue evolution

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 € million Water dispense revenue, 2017-22 BWD revenue (€ mln) POU revenue (€ mln) ITS revenue (€ mln) Total revenue (€ mln)
76
• Commentary SAMPLE

[COUNTRY]

Market overview - Price structure and revenue indicators

Bottled water dispensers 2021 2022

Average monthly rental (€)

Average 18.9l bottle price (€)

Total revenue (€ mln)

- revenue from rented units

- revenue from bulk bottled water sales

Point of use

Average monthly rental (€)

Average sales price per unit (€)

Total revenue (€ mln)

- revenue from rented units

- revenue from sold units

2021 2022

• Commentary

• Commentary

Integrated tap systems 2021 2022

Average monthly rental (€)

Average sales price per unit (€)

Total revenue (€ mln)

- revenue from rented units

- revenue from sold units

• Commentary

© Zenith Global Commercial Ltd 2023
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[COUNTRY]

Market overview - Mode of commercialisation

• Commentary

Bottled water dispense

Point of use

• Commentary

Integrated tap systems

• Commentary

© Zenith Global Commercial Ltd 2023
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overview - PESTLE analysis P Political E Economic S Social T Technological L Legal E Environmental Commentary Commentary Commentary Commentary Commentary Commentary
[COUNTRY]
Market

[COUNTRY]

Market overview - Forecast

Bottled water dispense (BWD) units

% growth

Dispensers/pumps units

% growth

Million litres

% growth

Point of use (POU) units

% growth

Integrated tap systems (ITS) units

% growth

Total units

% growth

BWD % share

Dispensers/pumps % share

POU % share

ITS % share

© Zenith Global Commercial Ltd 2023
2022 2023f 2024f 2025f 2026f 2027f 22-27f CAGR 22-27f growth
80

[COUNTRY]

Market overview - Forecast

Water dispense market forecast

• Commentary

Future water consumption trends

• Commentary

© Zenith Global Commercial Ltd 2023
81

[COUNTRY]

Market overview - Opportunities

© Zenith Global Commercial Ltd 2023
82
Units per '000 people 2017 2022 2027f 17-22 growth 22-27f growth Bottled water dispense Dispensers/pumps Point of use Integrated tap systems • Commentary
• Commentary
Opportunities

[COUNTRY]

Bottled water dispense - Market analysis

Market drivers and dynamics

• Commentary

Bottled water dispense units, 2017-22

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 BWD installed units
83
SAMPLE

Bottled water dispense - Units installed by company

© Zenith Global Commercial Ltd 2023
84
[COUNTRY]
Units in December 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market

[COUNTRY]

Bottled water dispense - Dispensers/pumps analysis

Market drivers and dynamics

• Commentary

Dispensers/pumps

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 Dispensers/pumps installed units
units,
2017-22
85
SAMPLE

[COUNTRY]

Bottled water dispense - Pumps installed by company

© Zenith Global Commercial Ltd 2023
86
Units in December 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market

[COUNTRY]

Bottled water dispense - Volume analysis

Market drivers and dynamics

• Commentary

Bottled water dispense volume, 2017-22

© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 Million litres
87
SAMPLE

Bottled water dispense - Volume by company

© Zenith Global Commercial Ltd 2023
88
[COUNTRY]
Million litres 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market

Bottled water dispense - Market structure

© Zenith Global Commercial Ltd 2023 Throughput • Commentary Cancellations • Commentary Contract lengths • Commentary
89
[COUNTRY]
Cancellations 2021 2022 Quit rate % Throughput 2021 2022 Litres per dispense unit 18.9l bottles per dispense unit per month

[COUNTRY]

Bottled water dispense - Unit analysis

Machine functionality

• Commentary

BWD machine functionality, 2022

Chilled

Chilled-hot

Chilled-hot-boiling

Still-sparkling functionality

• Commentary

BWD still-sparkling functionality, 2022 Still Still + sparkling

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SAMPLE SAMPLE

Bottled water dispense - Channel analysis

BWD channel distribution, 2022

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[COUNTRY]
• Commentary 12% 12% 12% 12% 13% 13% 13% 13%
Workplace HoReCa Healthcare Education Retail Transport hubs Leisure Domestic SAMPLE

Point of use - Market analysis

Market drivers and dynamics • Commentary

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Point
[COUNTRY]
SAMPLE

[COUNTRY]

Point of use - Units installed by company

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Units in December 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market

[COUNTRY]

Point of use - Market structure

Conversion

• Commentary

Units added

Replacement rate %

Number of units

BWD to POU conversions

Replacement POU (New)

2021 2022 2021 2022

Filtration method

• Commentary

POU water types, 2022

Filtered Purified

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SAMPLE

[COUNTRY]

Point of use - Unit analysis

Machine functionality

• Commentary

POU machine functionality, 2022

Chilled

Chilled-hot

Chilled-hot-boiling

Still-sparkling functionality

• Commentary

POU still-sparkling functionality, 2022 Still Still + sparkling

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SAMPLE SAMPLE

Point of use - Channel analysis

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[COUNTRY]
• Commentary 12% 12% 12% 12% 13% 13% 13% 13% POU channel distribution, 2022 Workplace HoReCa Healthcare Education Retail Transport hubs Leisure Domestic SAMPLE

Integrated tap systems - Market analysis

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[COUNTRY]
drivers and dynamics
Commentary SAMPLE
Market
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Units in December 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market
[COUNTRY]
Integrated tap systems - Units installed by company

[COUNTRY]

Integrated tap systems - Unit analysis

Machine functionality

• Commentary

ITS machine functionality, 2022

Chilled Chilled-hot

Chilled-hot-boiling

Still-sparkling functionality

• Commentary

ITS still-sparkling functionality, 2022 Still Still + sparkling

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25%
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SAMPLE SAMPLE

Integrated tap systems - Channel analysis

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[COUNTRY]
• Commentary 12% 12% 12% 12% 13% 13% 13% 13% ITS channel distribution, 2022 Workplace HoReCa Healthcare Education Retail Transport hubs Leisure Domestic SAMPLE

Data reports

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Data reports

[COUNTRY]

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7
© Zenith Global Commercial Ltd 2023 2017 2018 2019 2020 2021 2022 € million Installed units Water dispense market evolution, 2017-22 BWD units Dispensers/pumps units POU units ITS units Total revenue (€ mln)
103 Market overview - Water dispense market evolution SAMPLE
[COUNTRY]

[COUNTRY]

Market overview - Water dispense market evolution

Bottled water dispense (BWD) units

% growth

Million litres

% growth

Point of use (POU) units

% growth

Integrated tap systems (ITS) units

% growth

Total units

% growth

BWD % share

POU % share

ITS % share

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104

[COUNTRY]

Market overview - Price structure and revenue evolution

Bottled water dispensers 2021 2022

Average monthly rental (€)

Average 18.9l bottle price (€)

Average monthly rental (€)

Average sales price per unit (€)

Total revenue (€ mln)

Average monthly rental (€)

Water dispense revenue, 2017-22 BWD

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Total revenue (€ mln) - revenue from rented units - revenue from bulk bottled water sales
2021
Point of use
2022
- revenue from rented units - revenue from sold units
2021
Integrated tap systems
2022
revenue from rented units
revenue from sold units SAMPLE 2017 2018 2019 2020 2021 2022 € million
Average sales price per unit (€) Total revenue (€ mln) -
-
revenue (€ mln) POU revenue (€ mln) ITS revenue (€ mln) Total revenue (€ mln)

[COUNTRY]

Market overview - Units per capita evolution

Bottled

Dispensers/pumps units

Point

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per '000 people 2017 2022 2027f 17-22 growth 22-27f growth
Units
water dispense
of use
tap systems
Integrated

[COUNTRY]

Market overview - Forecast

Bottled water dispense (BWD) units

% growth

Dispensers/pumps units

% growth

Million litres

% growth

Point of use (POU) units

% growth

Integrated tap systems (ITS) units

% growth

Total units

% growth

BWD % share

Dispensers/pumps % share

POU % share ITS % share

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Bottled water dispense - Market analysis

Bottled water dispense units, 2017-22

Bottled water dispense volume, 2017-22

Dispensers/pumps units, 2017-22

18.9l bottles per dispense unit per month Cancellations

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[COUNTRY]
Throughput 2021 2022 Litres per dispense unit
SAMPLE 2017 2018 2019 2020 2021 2022 Dispensers/pumps installed units
2021 2022 Quit rate %
SAMPLE 2017 2018 2019 2020 2021 2022 Million litres
SAMPLE

Bottled water dispense - Units installed by company

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[COUNTRY]
Units in December 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market

[COUNTRY]

Bottled water dispense - Pumps installed by company

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Units in December 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market

Bottled water dispense - Volume by company

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[COUNTRY]
Million litres 2017 2018 2019 2020 2021 2022 % share 2021 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market

[COUNTRY]

Bottled water dispense - Unit analysis

BWD channel distribution, 2022

BWD machine functionality, 2022

Chilled

Chilled-hot

Chilled-hot-boiling

BWD still-sparkling functionality, 2022

Still Still + sparkling

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12% 12% 12% 12% 13% 13% 13% 13%
Workplace HoReCa Healthcare Education Retail Transport
Leisure Domestic SAMPLE SAMPLE SAMPLE
hubs

[COUNTRY]

Point of use - Market analysis

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113
Units added BWD to POU conversions Replacement POU (New) 2021 2022 2021 2022 Replacement rate % Number of units SAMPLE SAMPLE

[COUNTRY]

Point of use - Units installed by company

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Units in December 2017 2018 2019 2020 2021 2022 % share 2022 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market

[COUNTRY]

Point of use - Unit analysis

POU channel distribution, 2022

POU machine functionality, 2022

Chilled

Chilled-hot

Chilled-hot-boiling

POU still-sparkling functionality, 2022

Still Still + sparkling

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12% 12% 12% 12% 13% 13% 13% 13%
Workplace HoReCa Healthcare Education Retail Transport hubs Leisure Domestic SAMPLE SAMPLE SAMPLE
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Units in December 2017 2018 2019 2020 2021 2022 % share 2022 % share 2022 % 22-21 Company 1 Company 2 Company 3 Others Total market
[COUNTRY]
Integrated tap systems - Units installed by company

[COUNTRY]

Integrated tap systems - Unit analysis

ITS channel distribution, 2022

ITS machine functionality, 2022

Chilled

Chilled-hot

Chilled-hot-boiling

ITS still-sparkling functionality, 2022

Still Still + sparkling

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12% 12% 12% 12% 13% 13% 13% 13%
Workplace HoReCa Healthcare Education Retail Transport hubs Leisure Domestic SAMPLE SAMPLE SAMPLE

Appendix

Glossary, acronyms and abbreviations

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8

Glossary

• Bottled water: All water sold in containers for human consumption.

• Bulk bottled water: Bottled water sold in containers larger than 10 litres in size.

• Bottler: Bottlers supply water to distributors in tankers or bottles. They have no dispense units of their own.

• Bottler-distributors: Bottler-distributors have their own water source, fill bottles under their own brand, install their own dispense units and run their own distribution service They may also fill bottles under contract for other distributors, either under their own brand or under distributor brands

• BWD conversions: Refers to the number of units converted from BWD to either POU or ITS.

• Cancellations: Sometimes also called churn or quit rate. The number of installed units that are lost in the year, removing the unit altogether.

• Carbon filtration: Cartridges in carbon filters naturally absorb organic compounds and chlorine by-products from water The technique is often used to remove objectionable taste and odour from water.

• Distributor: Distributors service their own machines using water supplied by bottlers or bottler-distributors. The water may be marketed under the bottler’s, bottler-distributor’s or the distributor’s brand name. This report measures the overall market for units installed in use in each calendar year by distributor until is it replaced or removed from the market. The ‘distributor’ shall be considered the company at the end of the chain, in direct contact with the end user (or with a facility management company directly supplying the end-user). Manufacturer units should only be counted when the manufacturer is also the distributor to the end client or operates through an exclusive dealership or franchise where manufacturer branding remains intact and only when the manufacturer operates under a combined direct and exclusive distributor network. If market presence is only through exclusive distributors, the units should be counted towards the distributor’s numbers If a manufacturer’s unit is placed in field by another party and not by exclusive partnership (indirect sale), the unit should be counted under that other party if named, or captured under ‘others’. If a unit is placed in field by Company X, but after the initial contract expires continues to be serviced by Company Y, the unit is transferred to Company Y, adding one unit in that given year to its total, and subtracting one active unit from Company X, compared to the previous year.

• Indirect sales: Sales that are not to an end-customer or facility manager are out of scope under distributor sales

• Packaged water: Bottled water that is not distributed for consumption via water coolers.

• Pumps/ceramics (non-powered/non-installed systems) for formats above 10 litres are included at the topline for East Europe, where they have a significant market share.

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Glossary

• Purified water: Mains or other water subjected to further processing and treatment and bottled in accordance with EC Directive 80/778/EEC on Water for Human Consumption Sometimes called ‘drinking water’ or ‘table water’ It may come from more than one source or not from a single underground source. It may include the public water supply or be transported from the source to the bottling plant. Bottling companies may carry out filtration and treatment processes on the water to amend its constituents before the water is distributed for sale. Some companies may also add mineral salts and carbon dioxide to their water.

• Rented: A unit is considered rented under any kind of traditional rental (monthly payments), subscription or lease agreement/financing schemes, even if the lease fee is arranged through an intermediary party. Such units will count towards the unit total of the distributor company (the company holding the end-customer on contract) under such circumstances. BWD units supplied for free that are covered by a subscription contract of minimum monthly bottle orders or ad hoc water purchases are also considered units under rental, as the unit is subject to being returned to the distributor at the end of its life or contract, even if the unit itself does not attract a rental fee for placement in field Rental contracts generally also include services

• Reverse osmosis: A water treatment process that filters out most inorganic chemicals such as salts, metals and minerals as well as micro-organisms and many (but not all) organic compounds. It is sometimes seen as a controversial filtration method as it frequently discards a high percentage of water along with the contaminants.

• Service/maintenance: Including replacement filters, other spare parts, maintenance, sanitisation. These may entail regular payment as part of a contractual rental and service package attracting recurring revenue or a one-off separate payment.

• Sold: A unit is considered sold when 100% of the purchase price is paid at the point of sale or prior to installation. There is no obligation to return the unit at the end of its life. Units may be purchased online or offline, through direct retail sales to an end-customer or facility manager. Service and maintenance contracts may still be attached to that unit, but this is purchased separately.

• Throughput: The volume of bottled used per dispenser.

• UV: UV filtration systems inactivate bacteria, viruses and micro-organisms.

• Water treatment method (for POU and ITS): Filtration or purification (RO, purifying UV, Ozonation, hollow fibre membrane)

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Appendix

Acronyms and abbreviations

... Negligible, less than 0.05

f Forecast

na Not available, not applicable

B2B Business-to-Business

BiB Bag-in-box

BPA Bisphenol A

BWCA British Water Cooler Association

BWD Bottled water dispenser

CAGR Compound annual growth rate

EC European Commission

EDWCA European Drinking Water Cooler Association

EU European Union

HOD Home and office delivery

IMF International Monetary Fund

ITS Integrated tap system

NR Non returnable packaging

OOH Out-of-home

PET Polyethylene terephthalate

POU Point of use

R Returnable packaging

RO Reverse osmosis

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Appendix

Acronyms and abbreviations

SME Small-and medium-sized enterprise

SSTI Self-sanitising technology system

UNESCO United Nations Educational, Scientific and Cultural Organization

UNESDA Union of European Beverages Associations

UTS Under the sink

UV Ultra violet

VAT Value-added tax

WE Watercoolers Europe

WHA The Water Dispenser & Hydration Association

WRAP Waste Resources Action Programme

WRAS Water Regulations Advisory Scheme

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© Zenith Global Commercial Ltd 2023 124 Contact us For further information regarding this report, or for a tailor made study specific to your requirements please contact: Akos Petri Director - Commercial Consulting apetri@zenithglobal.com www.zenithglobal.com

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