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Key regions: Worldwide, Australia, Europe, United States, Vietnam
The Ready-to-Drink (RTD) Coffee market in G20 is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in the G20 countries are increasingly seeking convenience and on-the-go options, which has led to a rise in the demand for Ready-to-Drink (RTD) Coffee. Busy lifestyles and the need for quick and easy solutions have driven consumers to opt for ready-made coffee beverages that can be consumed anytime, anywhere. Additionally, the younger generation, in particular, is attracted to the convenience and variety offered by RTD coffee products.
Trends in the market: One of the key trends in the RTD Coffee market is the growing popularity of cold brew coffee. Cold brew coffee is made by steeping coffee grounds in cold water for an extended period, resulting in a smooth and less acidic flavor profile. This trend has gained traction among consumers looking for a refreshing and less bitter coffee experience. In addition, the market is witnessing an increase in the availability of innovative flavors and functional ingredients in RTD coffee products, catering to diverse consumer preferences.
Local special circumstances: Each G20 country has its own unique set of local special circumstances that influence the development of the RTD Coffee market. For example, in countries like Japan and South Korea, where there is a strong culture of convenience and on-the-go consumption, RTD coffee products have gained widespread popularity. On the other hand, in countries like Brazil and Colombia, where coffee is deeply ingrained in the culture, there is a growing demand for premium and artisanal RTD coffee products that showcase the rich flavors of locally sourced coffee beans.
Underlying macroeconomic factors: The growth of the RTD Coffee market in the G20 countries is also influenced by underlying macroeconomic factors. Rising disposable incomes, urbanization, and the expanding middle class in these countries have contributed to increased consumer spending on convenience products, including RTD coffee. Moreover, the growing penetration of e-commerce and online grocery platforms has made it easier for consumers to access and purchase RTD coffee products, further fueling market growth. In conclusion, the Ready-to-Drink (RTD) Coffee market in G20 is witnessing significant growth and development driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for convenience, on-the-go options, and innovative flavors has propelled the market forward, while factors such as culture, disposable incomes, and urbanization have also played a crucial role in shaping the market dynamics in each G20 country.
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)