Ready-to-Drink (RTD) Coffee - Hungary

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

Customer preferences: Hungarian consumers have shown a growing preference for convenience and on-the-go products, which has contributed to the increasing popularity of RTD coffee. The fast-paced lifestyle of modern consumers has led to a greater demand for ready-to-drink beverages that can be easily consumed while commuting or during busy workdays. Additionally, the younger generation in Hungary has developed a taste for coffee and seeks innovative and convenient ways to enjoy their favorite beverage.

Trends in the market: One of the key trends in the RTD coffee market in Hungary is the introduction of new flavors and varieties. Manufacturers are constantly innovating and launching new products to cater to the evolving preferences of consumers. From classic flavors like cappuccino and latte to more unique options such as caramel macchiato and mocha, there is a wide range of choices available in the market. This variety not only appeals to existing coffee drinkers but also attracts new consumers who are looking for different flavor experiences. Another trend in the market is the emphasis on natural and healthier ingredients. With the increasing focus on health and wellness, consumers are becoming more conscious about the ingredients in their food and beverages. This has led to a demand for RTD coffee products that are made with natural ingredients and have reduced sugar content. Manufacturers are responding to this trend by introducing products that use natural sweeteners and organic coffee beans.

Local special circumstances: Hungary has a strong coffee culture, with a significant portion of the population being regular coffee drinkers. This cultural preference for coffee has created a favorable environment for the growth of the RTD coffee market. Consumers in Hungary are already familiar with the taste and aroma of coffee, which makes it easier for them to adopt RTD coffee as a convenient alternative. Furthermore, the increasing number of coffee shops and cafes in Hungary has also contributed to the popularity of RTD coffee. These establishments serve as a platform for consumers to discover and explore different coffee flavors and varieties, which in turn drives their interest in RTD coffee products.

Underlying macroeconomic factors: The growing economy in Hungary has played a crucial role in the development of the RTD coffee market. As disposable incomes increase, consumers have more purchasing power to spend on premium and convenience products. This has led to a greater willingness to try new and innovative beverages like RTD coffee. Additionally, the rise of e-commerce and online shopping platforms has made it easier for consumers to access and purchase RTD coffee products. Online retailers offer a wide selection of brands and flavors, providing consumers with convenience and choice. The convenience of online shopping, coupled with the increasing availability of RTD coffee products in supermarkets and convenience stores, has further fueled the growth of the market. In conclusion, the Ready-to-Drink (RTD) Coffee market in Hungary is experiencing growth due to customer preferences for convenience and on-the-go products, the introduction of new flavors and healthier ingredients, the strong coffee culture and the growing economy. These factors have created a favorable environment for the development and expansion of the RTD coffee market in Hungary.

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.