Ready-to-Drink (RTD) Coffee - Costa Rica

The Ready-to-Drink (RTD) Coffee market in Costa Rica has been experiencing significant growth in recent years.

Customer preferences: Costa Rican consumers have shown a growing preference for convenience and on-the-go consumption, which has contributed to the rise in popularity of RTD coffee. The busy lifestyles of modern consumers have led to an increased demand for ready-to-drink beverages that can be easily consumed while commuting or during work breaks. Additionally, the younger generation in Costa Rica, who are more open to trying new and innovative products, have embraced RTD coffee as a trendy and convenient option.

Trends in the market: One of the key trends in the RTD coffee market in Costa Rica is the introduction of new flavors and variations. Manufacturers have been quick to respond to consumer demand by offering a wide range of flavors, including traditional coffee flavors as well as unique combinations such as caramel macchiato and mocha. This variety of flavors has helped to attract a broader consumer base and cater to different taste preferences. Another trend in the market is the increasing focus on health and wellness. Costa Rican consumers are becoming more health-conscious and are seeking healthier beverage options. As a result, manufacturers have started to offer RTD coffee products with reduced sugar content and natural ingredients. This trend is driven by the global shift towards healthier lifestyles and the growing awareness of the impact of excessive sugar consumption on health.

Local special circumstances: Costa Rica is known for its high-quality coffee production, and this reputation has had a positive impact on the RTD coffee market. The country's coffee culture and the appreciation for locally sourced products have created a strong foundation for the growth of the RTD coffee market. Costa Rican consumers take pride in their coffee heritage and are willing to pay a premium for products that are made with locally grown coffee beans.

Underlying macroeconomic factors: The growing economy in Costa Rica has also contributed to the development of the RTD coffee market. As disposable incomes have increased, consumers have more purchasing power to spend on convenience products like RTD coffee. Additionally, the tourism industry in Costa Rica has been thriving, attracting a large number of international visitors who are also contributing to the demand for RTD coffee. In conclusion, the RTD coffee market in Costa Rica is experiencing growth due to changing customer preferences, including a desire for convenience and healthier options. The introduction of new flavors and variations, as well as the country's coffee culture and strong economy, are driving this trend. As the market continues to evolve, it is likely that we will see further innovation and expansion in the RTD coffee segment in Costa Rica.

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.