Ready-to-Drink (RTD) Coffee & Tea - Papua New Guinea

The Ready-to-Drink (RTD) Coffee & Tea market in Papua New Guinea 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 Papua New Guinea have shifted towards convenience and on-the-go consumption. As the country experiences rapid urbanization and a growing middle class, consumers are increasingly seeking quick and easy beverage options. Ready-to-Drink (RTD) Coffee & Tea products provide a convenient solution, allowing consumers to enjoy their favorite beverages without the need for brewing or preparation. Trends in the market also play a role in the growth of the RTD Coffee & Tea market in Papua New Guinea. The global trend of health and wellness has influenced consumer choices in the country as well. Many RTD Coffee & Tea products now offer healthier options, such as low sugar or organic varieties, which are appealing to health-conscious consumers. This trend towards healthier options has further fueled the demand for RTD Coffee & Tea in Papua New Guinea. Local special circumstances in Papua New Guinea have also contributed to the development of the RTD Coffee & Tea market. The country's tropical climate makes it an ideal market for refreshing and cold beverages, such as iced coffee and tea. Additionally, Papua New Guinea has a rich coffee culture, with a strong tradition of coffee consumption. This cultural affinity for coffee has translated into a growing demand for RTD Coffee products in the country. Underlying macroeconomic factors have also played a role in the growth of the RTD Coffee & Tea market in Papua New Guinea. The country's economy has been steadily growing, leading to increased disposable income among consumers. As a result, consumers have more purchasing power to spend on non-essential items, such as RTD Coffee & Tea products. This economic growth has created a favorable environment for the development and expansion of the RTD Coffee & Tea market in Papua New Guinea. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Papua New Guinea has experienced significant growth due to customer preferences for convenience, global trends towards health and wellness, local cultural affinity for coffee, and favorable macroeconomic factors. As these factors continue to shape the market, the RTD Coffee & Tea industry in Papua New Guinea is expected to continue its upward trajectory 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.