Contact
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
Key regions: United States, Europe, Worldwide, Nigeria, Vietnam
The Ready-to-Drink (RTD) Coffee & Tea market is experiencing significant growth and development worldwide. Customer preferences for convenient and on-the-go beverage options, coupled with the increasing popularity of coffee and tea, are driving the expansion of this market.
Customer preferences: Consumers are increasingly seeking convenient and portable beverage options to fit their busy lifestyles. Ready-to-Drink (RTD) Coffee & Tea products offer a convenient solution, allowing consumers to enjoy their favorite beverages anytime, anywhere. The convenience factor is particularly appealing to urban dwellers and young professionals who are constantly on the move.
Trends in the market: The market for RTD Coffee & Tea is witnessing several key trends. One trend is the rise of cold brew coffee, which has gained popularity due to its smooth and less acidic taste compared to traditional hot brewed coffee. Cold brew coffee is often marketed as a premium product, appealing to consumers who are willing to pay a higher price for a higher quality beverage. Another trend is the increasing demand for healthier and natural ingredients in RTD Coffee & Tea products. Consumers are becoming more conscious about their health and are seeking beverages that are low in sugar, free from artificial additives, and made with natural ingredients. This has led to the emergence of products that cater to specific dietary preferences, such as gluten-free, dairy-free, and vegan options.
Local special circumstances: In the United States, the RTD Coffee & Tea market is highly competitive, with a wide range of established and emerging players. The market is driven by the strong coffee culture in the country, with consumers willing to experiment with different flavors and varieties. In addition, the growing popularity of coffee shops and cafes has contributed to the demand for RTD Coffee & Tea products. In Asia, particularly in countries like Japan and South Korea, there is a long-standing tradition of consuming tea. However, there is also a growing demand for coffee among the younger generation. This has led to a unique market where both tea and coffee-based RTD beverages coexist and cater to different consumer preferences.
Underlying macroeconomic factors: The growth of the RTD Coffee & Tea market is also influenced by macroeconomic factors. Rising disposable incomes in emerging economies have increased consumer spending power, allowing more people to afford premium RTD Coffee & Tea products. Additionally, urbanization and the growth of the middle class in these economies have led to changes in lifestyle and consumption patterns, driving the demand for convenient and on-the-go beverage options. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market is experiencing significant growth worldwide due to customer preferences for convenience, the popularity of coffee and tea, and the emergence of new trends. The market is shaped by local special circumstances, such as the strong coffee culture in the United States and the coexistence of tea and coffee-based beverages in Asia. Furthermore, underlying macroeconomic factors, such as rising disposable incomes and urbanization, are driving the expansion of this market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)