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  4. Ready-to-Drink (RTD) Coffee & Tea

Ready-to-Drink (RTD) Coffee - Belize

Belize
  • Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Ready-to-Drink (RTD) Coffee market amounts to US$13.18k in 2024.
  • Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$303.20 in 2024.
  • Revenue, combined amounts to US$13.48k in 2024.
  • The revenue, at home is expected to grow annually by 1.91% (CAGR 2024-2029).
  • In global comparison, most revenue, at home is generated Japan (US$12bn in 2024).
  • In relation to total population figures, the average revenue per capita, at home of US$0.03 are generated in 2024.
  • In the Ready-to-Drink (RTD) Coffee market, volume, at home is expected to amount to 2.20k L by 2024.
  • Volume, out-of-home is expected to amount to 13.57L in 2024.
  • Volume, combined is expected to amount to 2.22k L in 2024.
  • The Ready-to-Drink (RTD) Coffee market is expected to show a volume growth, at home of 1.0% in 2025.0.
  • The average volume per person, at home in the Ready-to-Drink (RTD) Coffee market is expected to amount to 0.01L in 2024.

Definition:

The Ready-to-Drink (RTD) Coffee market includes packaged coffee beverages in liquid form, ready for consumption. Common variants of RTD Coffee include iced coffee, coffee latte, and cold brew coffee. RTD products are mostly milk-based, but there are also variants like black coffee without milk. This market does not include dry products such as Instant coffee or coffee beans, which are covered in the Hot Drinks market.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

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.

Key players include Starbucks (in cooperation with PepsiCo), Nestlé, The Coca-Cola Company, and Suntory.

In-Scope

  • Coffee Drinks in PET bottles, glass bottles, cans, carton

Out-Of-Scope

  • Coffee in dry form (Instant coffee, coffee beans)
  • Syrups
  • Coffee with alcohol
  • Ready-to-Drink meal replacements
Ready-to-Drink (RTD) Coffee & Tea: market data & analysis - Cover

Market Insights report

Ready-to-Drink (RTD) Coffee & Tea: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Apr 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Ready-to-Drink (RTD) Coffee market in Belize has been experiencing significant growth in recent years. Customer preferences for convenient and on-the-go beverages have contributed to the increasing demand for RTD coffee products in the country.

    Customer preferences:
    Belizean consumers are increasingly seeking convenience in their beverage choices, which has led to a rise in the popularity of RTD coffee products. The busy lifestyles of consumers, especially in urban areas, have created a need for beverages that can be consumed quickly and easily. RTD coffee provides a convenient solution for those who are looking for a caffeine boost on the go.

    Trends in the market:
    One of the key trends in the RTD coffee market in Belize is the growing demand for innovative and unique flavors. Consumers are becoming more adventurous in their taste preferences and are seeking out new and exciting flavor combinations. This trend has led to the introduction of a wide variety of RTD coffee flavors in the market, catering to different consumer preferences. Additionally, there is a growing trend towards healthier options, with an increasing number of RTD coffee products being marketed as low calorie or sugar-free.

    Local special circumstances:
    Belize has a tropical climate, which makes it an ideal market for cold beverages like RTD coffee. The hot and humid weather encourages consumers to reach for refreshing drinks, and RTD coffee provides a convenient and enjoyable option. Additionally, the tourism industry in Belize is a significant driver of the RTD coffee market. The country attracts a large number of international tourists who are familiar with and enjoy RTD coffee products, leading to increased demand.

    Underlying macroeconomic factors:
    The growing middle class in Belize has contributed to the development of the RTD coffee market. As disposable incomes increase, consumers have more purchasing power to spend on convenience products like RTD coffee. Additionally, the expanding urban population in Belize has created a larger consumer base for RTD coffee products. The increasing number of cafes and convenience stores in urban areas has also made RTD coffee more easily accessible to consumers. In conclusion, the Ready-to-Drink (RTD) Coffee market in Belize is experiencing growth due to customer preferences for convenience, the introduction of innovative flavors, and the country's tropical climate. The expanding middle class and urban population, as well as the influence of the tourism industry, are also contributing factors to the market's development. As these trends and circumstances continue, it is expected that the RTD coffee market in Belize will continue to grow in the coming years.

    Methodology

    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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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