Ready-to-Drink (RTD) Coffee - Taiwan

The Ready-to-Drink (RTD) Coffee market in Taiwan has witnessed significant growth in recent years.

Customer preferences: Taiwanese consumers have shown a growing preference for convenience and on-the-go products, which has contributed to the rise in popularity of RTD coffee. With increasingly busy lifestyles, consumers are seeking convenient and quick options for their caffeine fix. RTD coffee provides a ready-to-consume solution that can be easily carried and consumed anytime, anywhere.

Trends in the market: One of the key trends in the RTD coffee market in Taiwan is the increasing demand for premium and specialty coffee products. As consumers become more knowledgeable and sophisticated about coffee, they are willing to pay a premium for higher quality and unique flavors. This trend has led to the introduction of a wide range of premium RTD coffee products in the market, including single-origin and cold brew varieties. Another trend in the market is the growing popularity of healthier and functional RTD coffee options. Taiwanese consumers are becoming more health-conscious and are seeking beverages that offer additional benefits, such as low sugar content, natural ingredients, and added vitamins or antioxidants. This has led to the emergence of RTD coffee products that cater to specific dietary needs and preferences, such as low-calorie or plant-based options.

Local special circumstances: Taiwan has a strong coffee culture, with a significant number of coffee shops and cafes across the country. This has created a favorable environment for the growth of the RTD coffee market, as consumers are already familiar with and enjoy coffee as a beverage. The presence of a well-established coffee culture has also contributed to the demand for premium and specialty RTD coffee products, as consumers are willing to explore different flavors and varieties.

Underlying macroeconomic factors: The growing middle class in Taiwan, coupled with rising disposable incomes, has played a significant role in driving the growth of the RTD coffee market. As consumers have more purchasing power, they are more willing to spend on premium and convenient products like RTD coffee. Furthermore, the increasing urbanization in Taiwan has also contributed to the growth of the RTD coffee market. As more people move to cities and lead busy lifestyles, they are seeking convenient and on-the-go options for their daily caffeine fix. RTD coffee provides a convenient solution for busy urban dwellers who may not have the time or resources to brew their own coffee. In conclusion, the Ready-to-Drink (RTD) Coffee market in Taiwan has experienced significant growth due to changing customer preferences, including a preference for convenience and on-the-go products. The market has also been influenced by trends such as the demand for premium and specialty coffee, as well as healthier and functional options. The local coffee culture and the macroeconomic factors of a growing middle class and increasing urbanization have also contributed to the growth of the RTD coffee market in Taiwan.

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.