Ready-to-Drink (RTD) Coffee - Guatemala

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

Customer preferences: Guatemalan consumers have shown a growing preference for convenience and on-the-go consumption, which has contributed to the rising popularity of RTD coffee. Busy lifestyles and the need for quick and easy refreshment options have driven the demand for ready-to-drink beverages in the country. Additionally, the younger population, with their increasing exposure to global trends and influences, has also played a role in driving the demand for RTD coffee.

Trends in the market: One of the key trends in the RTD coffee market in Guatemala is the introduction of innovative flavors and product variations. Manufacturers are constantly launching new and unique flavors to cater to the evolving taste preferences of consumers. This trend has helped to attract a wider consumer base and keep the market dynamic and competitive. Another trend in the market is the emphasis on health and wellness. Consumers are becoming more health-conscious and are seeking healthier beverage options. As a result, there has been a rise in the demand for RTD coffee products that are low in sugar, fat, and calories. Manufacturers are responding to this trend by introducing healthier variants of RTD coffee, such as those made with natural sweeteners or plant-based milk alternatives.

Local special circumstances: Guatemala is known for its rich coffee culture and high-quality coffee production. This has created a favorable environment for the growth of the RTD coffee market in the country. Consumers in Guatemala have a strong affinity for coffee and are willing to try new coffee-based products. The presence of a strong coffee culture has also contributed to the development of a knowledgeable and discerning consumer base, which has further fueled the demand for RTD coffee.

Underlying macroeconomic factors: The growing economy of Guatemala has had a positive impact on the RTD coffee market. As disposable incomes rise, consumers have more purchasing power and are willing to spend on convenience products like RTD coffee. Additionally, the increasing urbanization in the country has led to a shift in consumer lifestyles, with more people living in cities and working in fast-paced environments. This has created a greater demand for on-the-go beverages like RTD coffee. In conclusion, the Ready-to-Drink (RTD) Coffee market in Guatemala is experiencing growth due to customer preferences for convenience and on-the-go consumption, the introduction of innovative flavors, an emphasis on health and wellness, the presence of a strong coffee culture, and the underlying macroeconomic factors of a growing economy and increasing urbanization.

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.