Ready-to-Drink (RTD) Coffee & Tea - Costa Rica

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

Customer preferences: Costa Rican consumers have shown a growing preference for convenience and on-the-go products, which has contributed to the increasing popularity of RTD Coffee & Tea. The busy lifestyles of urban consumers, coupled with the desire for quick and easy refreshments, have led to a surge in demand for ready-to-drink beverages.

Trends in the market: One of the key trends in the RTD Coffee & Tea market in Costa Rica is the increasing demand for healthier options. Consumers are becoming more health-conscious and are seeking beverages that are low in sugar and calories, as well as those that offer functional benefits such as antioxidants and natural ingredients. As a result, companies in the market are focusing on developing and promoting products that cater to these preferences, such as organic and natural RTD Coffee & Tea options. Another trend in the market is the rising popularity of specialty and premium RTD Coffee & Tea products. Costa Rican consumers are becoming more sophisticated in their tastes and are willing to pay a premium for high-quality and unique beverages. This has led to the introduction of a wide range of premium RTD Coffee & Tea options, including cold brews, nitro-infused coffees, and artisanal teas.

Local special circumstances: Costa Rica is known for its high-quality coffee production, and this has had a significant impact on the RTD Coffee market in the country. Costa Rican consumers have a deep appreciation for coffee and are often willing to pay a premium for products that are made with locally sourced coffee beans. This has created opportunities for local coffee producers to enter the RTD Coffee market and offer products that highlight the unique flavors and characteristics of Costa Rican coffee.

Underlying macroeconomic factors: The growing economy of Costa Rica has also played a role in the development of the RTD Coffee & Tea market. As disposable incomes have increased, consumers have more purchasing power to spend on convenience products like RTD beverages. Additionally, the tourism industry in Costa Rica has been booming, attracting a large number of international visitors who are also contributing to the demand for RTD Coffee & Tea. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Costa Rica is experiencing growth due to changing customer preferences for convenience and healthier options, as well as the rising popularity of specialty and premium beverages. The local special circumstance of Costa Rica's renowned coffee production has also influenced the market, while underlying macroeconomic factors such as a growing economy and thriving tourism industry have contributed to the overall development of the 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.