Ready-to-Drink (RTD) Coffee & Tea - Serbia

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

Customer preferences: Serbian consumers have shown a growing interest in convenient and on-the-go beverage options, which has contributed to the increasing popularity of RTD coffee and tea products. The busy lifestyles of modern consumers have led to a greater demand for ready-to-drink beverages that can be easily consumed without the need for preparation. Additionally, the younger generation in Serbia, who are more open to trying new and innovative products, have embraced the convenience and variety offered by RTD coffee and tea.

Trends in the market: One of the key trends in the RTD Coffee & Tea market in Serbia is the growing demand for healthier and natural options. Consumers are becoming more health-conscious and are seeking beverages that are low in sugar, free from artificial additives, and made with natural ingredients. This trend is driving the development of new RTD coffee and tea products that cater to these preferences, such as organic and plant-based options. Another trend in the market is the increasing popularity of premium RTD coffee and tea products. Serbian consumers are willing to spend more on high-quality beverages that offer unique flavors and superior taste. This has led to the emergence of artisanal and specialty RTD coffee and tea brands in the market, which cater to the demand for premium products.

Local special circumstances: The RTD Coffee & Tea market in Serbia is also influenced by local cultural preferences and traditions. Serbia has a strong coffee culture, with coffee being an integral part of social gatherings and daily routines. However, the convenience and portability offered by RTD coffee and tea products have made them a popular choice among Serbian consumers, especially for on-the-go consumption.

Underlying macroeconomic factors: The growth of the RTD Coffee & Tea market in Serbia can be attributed to several macroeconomic factors. The improving economic conditions in the country have led to an increase in disposable income, allowing consumers to spend more on premium and convenient beverages. Additionally, the expanding middle class in Serbia has created a larger consumer base for RTD coffee and tea products. Furthermore, the increasing urbanization in Serbia has also contributed to the growth of the market. As more people move to cities and lead busy lifestyles, the demand for convenient and ready-to-drink beverages has risen. This trend is expected to continue in the coming years, driving further growth in the RTD Coffee & Tea market in Serbia.

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.