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

The Ready-to-Drink (RTD) Coffee & Tea market in Suriname has been experiencing significant growth in recent years. Customer preferences have shifted towards convenient and on-the-go beverage options, driving the demand for RTD coffee and tea products. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of this market.

Customer preferences: Surinamese consumers have shown a growing preference for ready-to-drink beverages, especially in the coffee and tea segment. This can be attributed to the convenience and portability of these products, allowing consumers to enjoy their favorite beverages anytime and anywhere. The fast-paced lifestyle of modern consumers has also contributed to the popularity of RTD coffee and tea, as they provide a quick and easy solution for busy individuals.

Trends in the market: One of the key trends in the RTD Coffee & Tea market in Suriname is the increasing demand for healthier and natural options. Consumers are becoming more health-conscious and are seeking products that are low in sugar and artificial additives. As a result, manufacturers are introducing new products with natural ingredients and reduced sugar content to cater to this growing trend. Another trend in the market is the rising popularity of flavored RTD coffee and tea products. Surinamese consumers are increasingly looking for unique and innovative flavors that go beyond the traditional options. Manufacturers are responding to this demand by introducing a wide variety of flavors, such as caramel, vanilla, and fruit-infused options, to attract consumers and differentiate their products in the market.

Local special circumstances: Suriname is a culturally diverse country with a rich history of coffee and tea consumption. Coffee is deeply ingrained in Surinamese culture, with many locals enjoying a cup of coffee as part of their daily routine. This cultural affinity towards coffee has created a strong market for RTD coffee products in Suriname. Additionally, Suriname has a tropical climate, which makes cold beverages like RTD coffee and tea highly appealing to consumers. The refreshing nature of these drinks makes them a popular choice, especially during hot and humid weather.

Underlying macroeconomic factors: Suriname has experienced steady economic growth in recent years, which has contributed to the rising disposable incomes of consumers. As a result, consumers have more purchasing power and are willing to spend on premium and convenient products like RTD coffee and tea. The growing middle class in Suriname is a key driver of market growth in this segment. Furthermore, the expanding tourism industry in Suriname has also played a role in the development of the RTD Coffee & Tea market. As more tourists visit the country, there is an increased demand for convenient and portable beverages, creating opportunities for both local and international brands to expand their presence in the market. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Suriname is experiencing growth due to shifting customer preferences towards convenience and on-the-go options. The market is characterized by trends such as the demand for healthier and natural products, as well as flavored options. Local special circumstances, such as the cultural affinity towards coffee and the tropical climate, further contribute to the development of the market. Additionally, underlying macroeconomic factors, including rising disposable incomes and a growing tourism industry, are driving the growth of the RTD Coffee & Tea market in Suriname.

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.