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

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

Customer preferences: Uruguayans have shown a growing preference for convenient and on-the-go beverage options, which has contributed to the rise in popularity of RTD coffee and tea products. These ready-to-drink beverages offer a convenient solution for busy individuals who are looking for a quick and refreshing pick-me-up throughout the day. Additionally, the younger generation in Uruguay has shown a particular interest in these products, as they are often seen as trendy and fashionable.

Trends in the market: One of the key trends in the RTD Coffee & Tea market in Uruguay is the increasing demand for healthier and more natural options. Consumers are becoming more health-conscious and are seeking beverages that are low in sugar and contain natural ingredients. As a result, many companies in the market are introducing new products that cater to these preferences, such as organic and sugar-free RTD coffee and tea options. Another trend in the market is the growing popularity of premium and artisanal RTD coffee and tea products. Uruguayans are willing to pay a premium for high-quality and unique beverages that offer a superior taste experience. This trend is driven by a desire for indulgence and a growing appreciation for specialty coffee and tea flavors. As a result, companies are focusing on developing innovative and gourmet RTD coffee and tea products to meet this demand.

Local special circumstances: Uruguay has a strong coffee culture, with coffee consumption being deeply ingrained in the country's social fabric. The popularity of RTD coffee can be attributed to this cultural preference for coffee, as well as the convenience it offers. Additionally, Uruguay has a growing tea culture, with an increasing number of consumers embracing the health benefits and flavors of tea. This has led to a rising demand for RTD tea products in the market.

Underlying macroeconomic factors: The growing economy in Uruguay has contributed to the development of the RTD Coffee & Tea market. As disposable incomes rise, consumers have more purchasing power and are able to afford premium and higher-priced products. This has created opportunities for companies to introduce new and innovative RTD coffee and tea options. Furthermore, the increasing urbanization and busy lifestyles in Uruguay have also played a role in driving the growth of the RTD Coffee & Tea market. As more people move to cities and have less time to prepare traditional coffee or tea at home, they are turning to ready-to-drink options as a convenient alternative. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Uruguay is experiencing growth due to customer preferences for convenient and on-the-go beverages, the demand for healthier and more natural options, the popularity of premium and artisanal products, the country's strong coffee culture, and the growing economy and urbanization in Uruguay.

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.