Ready-to-Drink (RTD) Coffee - Peru

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

Customer preferences: Peruvian consumers have shown a growing interest in convenience and on-the-go products, which has contributed to the increasing popularity of RTD coffee. The busy lifestyles of urban consumers have led to a higher demand for ready-to-drink beverages that can be easily consumed while commuting or at work. Additionally, the younger generation in Peru, 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 Peru is the introduction of new flavors and varieties. Coffee companies are constantly innovating and launching new products to cater to the diverse tastes of consumers. This includes flavors like caramel, vanilla, and mocha, which have gained popularity among Peruvian consumers. Furthermore, companies are also introducing healthier options such as low-sugar or organic RTD coffees to meet the growing demand for healthier beverages. Another trend in the market is the increasing availability of RTD coffee in different retail channels. Previously, RTD coffee was primarily available in supermarkets and convenience stores, but now it can be found in a variety of outlets including cafes, restaurants, and even online platforms. This wider distribution network has made RTD coffee more accessible to consumers, further driving its growth.

Local special circumstances: Peru is known for its rich coffee culture and high-quality coffee beans. This has played a significant role in the growth of the RTD coffee market. Peruvian consumers have a strong affinity for coffee and appreciate the taste and aroma of a good cup of coffee. This cultural preference for coffee has translated into a willingness to try different forms of coffee, including RTD options.

Underlying macroeconomic factors: Peru has experienced steady economic growth in recent years, which has led to an increase in disposable income among consumers. This rise in purchasing power has allowed consumers to indulge in premium and convenience products like RTD coffee. Additionally, the growing urbanization in Peru has also contributed to the growth of the RTD coffee market. As more people move to cities and lead fast-paced lifestyles, the demand for convenient and on-the-go beverages like RTD coffee has surged. In conclusion, the Ready-to-Drink (RTD) Coffee market in Peru has been growing due to the preferences of consumers for convenience and on-the-go products, the introduction of new flavors and varieties, the wider availability of RTD coffee in different retail channels, the strong coffee culture in Peru, and the underlying macroeconomic factors such as steady economic growth and 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.