Ready-to-Drink (RTD) Coffee - Bosnia and Herzegovina

The Ready-to-Drink (RTD) Coffee market in Bosnia and Herzegovina is experiencing significant growth and development.

Customer preferences: Bosnia and Herzegovina has traditionally been a tea-drinking nation, with coffee being a popular beverage as well. However, in recent years, there has been a shift in customer preferences towards ready-to-drink coffee. This can be attributed to the convenience and portability of RTD coffee, which fits well with the fast-paced lifestyle of modern consumers. Additionally, the younger generation is increasingly embracing the Western coffee culture, which includes the consumption of RTD coffee.

Trends in the market: One of the key trends in the RTD coffee market in Bosnia and Herzegovina is the increasing demand for flavored and specialty RTD coffee products. Consumers are looking for unique and innovative flavors that go beyond the traditional coffee taste. This trend is fueled by the growing influence of global coffee trends and the desire for a more personalized coffee experience. Another trend in the market is the rise of premium RTD coffee products. Consumers are willing to pay a premium for high-quality and premium ingredients, as well as for products that offer a unique and indulgent coffee experience. This trend is driven by the increasing disposable income and changing consumer preferences for premium and gourmet products.

Local special circumstances: Bosnia and Herzegovina has a strong coffee culture, with coffee being an integral part of social gatherings and daily routines. This cultural affinity towards coffee creates a favorable environment for the growth of the RTD coffee market. Additionally, the country has a well-established coffee industry, with a number of local coffee brands and cafes. This provides a strong foundation for the development of the RTD coffee market, as consumers are already familiar with and loyal to local coffee brands.

Underlying macroeconomic factors: The growing economy of Bosnia and Herzegovina is also contributing to the development of the RTD coffee market. With rising disposable incomes and increased consumer spending power, consumers are more willing to spend on premium and convenient products like RTD coffee. Furthermore, the country's young and urban population, coupled with the increasing influence of Western coffee culture, creates a favorable market for RTD coffee. In conclusion, the Ready-to-Drink (RTD) Coffee market in Bosnia and Herzegovina is experiencing growth and development due to changing customer preferences, including a shift towards convenience and flavored products. The country's strong coffee culture and growing economy also contribute to the market's expansion. As the market continues to evolve, it is expected that the demand for RTD coffee will further increase, driven by the desire for unique flavors and premium experiences.

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.