Ready-to-Drink (RTD) Coffee & Tea - Bulgaria

The Ready-to-Drink (RTD) Coffee & Tea market in Bulgaria has been experiencing significant growth in recent years.

Customer preferences: Bulgarian consumers are increasingly seeking convenient and on-the-go beverage options, which has led to a rise in the demand for RTD coffee and tea products. These products offer a quick and easy alternative to traditional hot beverages, allowing consumers to enjoy their favorite drinks without the need for preparation or brewing. The busy lifestyles of modern consumers, coupled with the desire for convenience, have driven the popularity of RTD coffee and tea in Bulgaria.

Trends in the market: One of the key trends in the RTD coffee and tea market in Bulgaria is the shift towards healthier and more natural products. Consumers are becoming more health-conscious and are actively seeking beverages that are made with natural ingredients and have reduced sugar content. This trend has led to the introduction of a wide range of RTD coffee and tea products that are low in calories and free from artificial additives. Additionally, there is a growing demand for organic and fair-trade options, reflecting the increasing awareness of sustainability and ethical sourcing among Bulgarian consumers. Another trend in the market is the expansion of product offerings to cater to different consumer preferences. RTD coffee and tea products are now available in a variety of flavors, including traditional options like black tea and coffee, as well as more innovative flavors such as matcha green tea and cold brew coffee. This diversification of flavors has helped to attract a wider consumer base and has contributed to the overall growth of the market.

Local special circumstances: Bulgaria has a strong coffee culture, with coffee being a popular beverage among Bulgarian consumers. This cultural preference for coffee has influenced the demand for RTD coffee products in the market. However, there is also a growing interest in tea, particularly among younger consumers who are looking for healthier alternatives to traditional caffeinated beverages. This has created an opportunity for RTD tea products to gain popularity in the market.

Underlying macroeconomic factors: The growing economy in Bulgaria has played a significant role in the development of the RTD coffee and tea market. As disposable incomes have increased, consumers have more purchasing power to spend on premium and convenience products, such as RTD beverages. Additionally, the rise of e-commerce and online shopping platforms has made it easier for consumers to access a wide range of RTD coffee and tea products, further fueling the market growth. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Bulgaria is experiencing growth due to the increasing demand for convenient and on-the-go beverage options. The preferences for healthier and more natural products, as well as the expansion of product offerings, have driven the market trends. The strong coffee culture and growing interest in tea, along with the underlying macroeconomic factors, have also contributed to the development of the market in Bulgaria.

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.