Global Ready to Drink (RTD) Coffee Market is forecasted to reach USD 12.61 billion by 2024, witnessing a CAGR of 4.5% during the forecast period (2019 - 2024).
- Health deterioration, due to busy lifestyles and insufficient exercise, along with increasing obese population, is a major reason behind the increasing number of individuals riding on the fitness fad. Ready-to-drink coffee, being an excellent source of instant energy is becoming popular amongst youngsters as well the middle-aged working population. In addition, the rise in the awareness for health and physical fitness has encouraged more youngsters to get involved in sports, gymming, and physical activities, in turn, soaring the need and demand for more quick energy supplements and drinks.
- With the trend for carbonated drinks declining, several forms of soft drinks flocking the market, and many coffee options entering the hot category, the RTD coffee market is expected to have a good take off.
Scope of the Report
By packaging the RTD coffee market is segmented into bottled and canned and by distribution, channel market is segmented into supermarket/Hypermarkets, Convenience stores, Specialist Stores and Online Retail. The canned packaging segment has the fastest growing in RTD coffee market. Growing technology and an increasing number of consumers using the Internet and smartphones for shopping varied products such as groceries and fast moving consumer goods. Specialty stores and also prominent growing sub-segments of modern stores in the distribution channel of ready-to-drink coffee.
Key Market Trends
Bottled RTD Coffee Gaining Momentum
Packing of all beverages by almost all major players are made more attractive, so as to increase the sales of their products. Also, packages in various quantities are made available for easy usage. Glass bottle and pet bottle are widely used around the world. Pet bottles are preferred more than the traditional glass bottles, as new technology enables these bottles to do more than just hold beverages. These bottles aid in improving the shelf life and preservation apart from being available in economy formats. Pet bottles are manufactured in such a way that consumers can either heat or cool the coffee depending on their requirements. These hot/cool bottles come in a handy ’grab and go’ sizes and can be used conveniently. Products in bottled format can be consumed all at once or can be stored. Caps or lids over these bottles also play an important role as they preserve the freshness and aroma of the drinks.
Increase Demand Of RTD in the Asia-Pacific region
Healthy eating and drinking is a major trend, which engages a major chunk of the global population. RTD coffee is also one of the functional drinks that is available with proven health benefits. Various types of RTD coffee are introduced in the market, to serve the vast consumer base spread globally. Growing obese population, unhealthy eating habits among children and adults, busy lifestyles, and tight work schedules are the factors driving consumers toward healthy alternatives in terms of convenience food. The calorie-conscious consumer and the diabetic population are looking for alternatives to sugar in their drinks, which is increasing the rate of preference for antioxidant-enriched health drinks among them. With the convenience factor associated with it, the market is gaining more prominence in the Asia-Pacific region.
Some of the prominent market participants in the global ready-to-drink coffee market identified across the value chain, which includes Nestl? S.A., Starbucks Corporation, Arla Foods. The Coca-Cola Company, The J.M. Smucker Company, Suntory Beverage & Food, Lotte Chilsung Beverage Co Ltd, Tres Coracoes Alimentos S.A., Dr. Pepper Snapple Group, Dunkin’ Brands, WhiteWave Foods, etc, among others.
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