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Key regions: Worldwide, Australia, Europe, United States, Vietnam
The Ready-to-Drink (RTD) Coffee market in Central Asia has been experiencing significant growth in recent years.
Customer preferences: Customers in Central Asia have shown a growing preference for convenience and on-the-go consumption, which has contributed to the rise in popularity of RTD coffee. The fast-paced lifestyle and increasing urbanization in the region have led to a greater demand for ready-to-drink beverages that can be consumed easily while commuting or at the workplace. Additionally, the younger population in Central Asia has embraced the global coffee culture, seeking out new and innovative coffee flavors and experiences.
Trends in the market: One of the key trends in the RTD coffee market in Central Asia is the increasing availability and variety of products. International coffee brands have recognized the potential of this market and have introduced a wide range of RTD coffee options to cater to the diverse tastes and preferences of consumers in the region. This includes traditional flavors such as black coffee and latte, as well as unique and exotic flavors that appeal to the local palate. Another trend in the market is the growing popularity of premium and specialty RTD coffee products. As consumers become more educated about coffee and develop a refined taste for high-quality beverages, they are willing to pay a premium for premium RTD coffee products that offer superior taste and unique flavor profiles. This trend is driven by the increasing disposable income of consumers in Central Asia and their desire for a premium coffee experience.
Local special circumstances: Central Asia has a rich history and culture of tea consumption, which has traditionally been the preferred hot beverage in the region. However, the growing influence of Western culture and the increasing exposure to global trends have led to a shift in consumer preferences towards coffee. This cultural shift has created a unique opportunity for the RTD coffee market to thrive in Central Asia.
Underlying macroeconomic factors: The economic development and rising disposable income in Central Asia have played a significant role in the growth of the RTD coffee market. As consumers have more purchasing power, they are able to afford premium and specialty coffee products, driving the demand for RTD coffee in the region. Additionally, the increasing urbanization and changing lifestyle patterns have created a need for convenient and portable beverage options, further fueling the growth of the RTD coffee market. In conclusion, the Ready-to-Drink (RTD) Coffee market in Central Asia is witnessing significant growth due to changing customer preferences, the availability of a wide range of products, and the influence of Western culture. The increasing disposable income and urbanization in the region, along with the cultural shift towards coffee consumption, are driving the demand for RTD coffee.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)