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

The Ready-to-Drink (RTD) Coffee & Tea market in Hungary has been experiencing steady growth in recent years. Customer preferences for convenient and on-the-go beverages, along with the increasing popularity of coffee and tea consumption, have contributed to the development of this market.

Customer preferences: Hungarian consumers have shown a growing preference for ready-to-drink coffee and tea products. The convenience factor plays a significant role in this trend, as busy lifestyles and the need for quick and easy beverage options have driven the demand for RTD products. Additionally, the increasing popularity of coffee and tea as beverages of choice among Hungarian consumers has also contributed to the growth of this market.

Trends in the market: One of the key trends in the RTD Coffee & Tea market in Hungary is the introduction of new and innovative flavors and variants. Manufacturers are constantly launching new products to cater to the evolving tastes and preferences of consumers. This trend is driven by the desire to offer unique and exciting options to consumers, as well as to differentiate themselves from competitors in the market. Another trend in the market is the emphasis on health and wellness. Consumers are becoming more conscious about their health and are seeking out beverages that offer functional benefits. As a result, we are seeing a rise in the demand for RTD coffee and tea products that are low in sugar, contain natural ingredients, and offer added health benefits such as antioxidants or vitamins.

Local special circumstances: Hungary has a strong coffee and tea culture, with a long history of coffee and tea consumption. This cultural background has created a favorable environment for the growth of the RTD Coffee & Tea market. Hungarian consumers have a deep appreciation for the taste and aroma of coffee and tea, and this has translated into a willingness to try new and innovative RTD products.

Underlying macroeconomic factors: The improving economic conditions in Hungary have also played a role in the development of the RTD Coffee & Tea market. As disposable incomes have increased, consumers have more purchasing power and are willing to spend on premium and convenience-oriented products. This has created opportunities for manufacturers to introduce higher-priced RTD coffee and tea products with added value propositions. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Hungary is experiencing growth due to customer preferences for convenience, the popularity of coffee and tea, the introduction of new flavors and variants, the emphasis on health and wellness, the country's coffee and tea culture, and the improving economic conditions. As these trends continue to evolve, we can expect further development and innovation in 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.