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

The Ready-to-Drink (RTD) Coffee & Tea market in Ireland has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development.

Customer preferences: In Ireland, there has been a notable shift in customer preferences towards convenience and on-the-go consumption. The busy lifestyles of consumers have led to an increased demand for ready-to-drink beverages that can be easily consumed while commuting or during breaks. This preference for convenience has driven the growth of the RTD Coffee & Tea market in Ireland.

Trends in the market: One of the key trends in the RTD Coffee & Tea market in Ireland is the rising popularity of cold brew coffee. Cold brew coffee is known for its smooth and less acidic taste, which appeals to a wide range of consumers. The demand for cold brew coffee has been driven by its perceived health benefits and unique flavor profile. This trend has been further fueled by the growing popularity of coffee shops and cafes offering cold brew coffee as a premium beverage. Another trend in the market is the increasing demand for natural and organic RTD Coffee & Tea products. Consumers in Ireland are becoming more conscious about the ingredients and production methods used in their beverages. They are seeking products that are free from artificial additives and preservatives, and are made from sustainably sourced ingredients. This trend has led to the introduction of a variety of natural and organic RTD Coffee & Tea options in the Irish market.

Local special circumstances: Ireland has a strong coffee culture, with a growing number of specialty coffee shops and cafes across the country. This has created a favorable environment for the growth of the RTD Coffee & Tea market, as consumers have developed a taste for high-quality coffee and tea. The presence of these specialty coffee shops has also helped to educate consumers about different types of coffee and tea, leading to an increased interest in RTD options. Additionally, the increasing number of international tourists visiting Ireland has contributed to the growth of the RTD Coffee & Tea market. Tourists often seek familiar and convenient options when it comes to beverages, and RTD Coffee & Tea products provide a convenient and easily accessible choice for them.

Underlying macroeconomic factors: The growing economy in Ireland has had a positive impact on the RTD Coffee & Tea market. As disposable incomes have increased, consumers have been willing to spend more on premium and convenient beverages. The growing middle class in Ireland has also contributed to the expansion of the market, as consumers have more discretionary income to spend on non-essential items such as RTD Coffee & Tea. Furthermore, the increasing urbanization in Ireland has led to a higher demand for on-the-go products. As more people move to cities and towns, the need for convenient and portable beverages has grown. This has created a favorable market environment for RTD Coffee & Tea products, which can be easily consumed while commuting or during busy workdays. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Ireland has experienced significant growth due to customer preferences for convenience and on-the-go consumption, trends such as the popularity of cold brew coffee and natural/organic products, local special circumstances including a strong coffee culture and increasing tourism, and underlying macroeconomic factors such as a growing economy and urbanization. The future of the RTD Coffee & Tea market in Ireland looks promising, with continued growth expected in the coming years.

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.