The global RTD coffee market depicts a fragmented and competitive landscape. The market is witnessing emergence of several small players, who are increasing adoption with new tastes and flavors. Additionally, the global RTD coffee market is witnessing increased fragmentation due to expansion in emerging markets, reports Transparency Market Research (TMR). Some key players in the RTD coffee market are Starbucks Corporation, Nestlé S.A., The Coca-Cola Company, PepsiCo Inc., The J.M. Smucker Company, McDonald’s Corp., Monster Beverage Co., Suntory Holdings Limited.
The
global RTD coffee market players continue to introduce new products with
innovation to attract new buyers. Coffee drink continues to attract young
customers and their open attitude towards new worldviews is favorable to growth.
Additionally, trends such as sustainability also promise new opportunities for
players in the RTD coffee market. Customers continue to demand sustainable
coffee products, however, very few display a keen knowledge of
sustainability.
Due
to robust trends of innovation, the RTD coffee market is expected to grow at a
notable 8.0% CAGR during 2018-2026. Additionally, the market is expected to
arise from an already healthy evaluation of US$ 9,141.7 Mn in 2018.
The
main product driving the RTD coffee market will be the cold brew ready-to-drink
coffee. This segment will rise at 9.4% CAGR during 2018-2026. Due to widespread
availability of drinks such as mocha, cappuccino, and espresso, the RTD coffee
market will register a healthy growth in the near future. Moreover, region
wise, the Asia Pacific region will register the highest growth, with a 9.1%
CAGR. Japan is a key market to watch out in the near future.
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Growing
Demand and Large Agricultural Output to Drive Robust Growth
According
to United States Department of Agriculture, the world coffee production during
2018/19 will reach the record heights of 174.5 million bags. The output is
expected to exceed its all-time high demand of 163.6 million bags. Due to large
agricultural output, predictions are in the air that there will be a 10% drop
in prices, further fuelling demand. Furthermore, coffee crop, Arabica will
enter its biennial production cycle, and Robusta is rebounding back in demand.
According to the United States Department of Agriculture, the ending stocks are
projected to rebound to 37.1 million, increasing by 7.1 million. Growing demand
for coffee, a great year for agricultural produce, and rebounding in old stocks
are expected to drive major growth for the RTD coffee market.
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European
Union and United States are both expected to register an increase in their
imports in the near future. While Europe is expected to increase its import by
1.1 million bags to 48.5 million, United States is expected to witness a 2.1
million bags increase to 26.5 million.
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E-Commerce
to Drive Expansion of the RTD Coffee Market
E-commerce
companies like Amazon are introducing new products into completely new markets
every day. This is a boon for the RTD coffee market. Coffee has just started
gaining traction in emerging markets of Asia Pacific. Coffee products like
mocha and espresso are still not part of daily habits for many cultures, which
are still accustomed to tea. On the other hand, RTD coffee products offer a
convenient way to gain some energy in hectic work environments. Coffee provides
a quick shot of mental boost, thanks to Caffeine. Additionally, due to growing
competition between e-commerce giants to capture large market share, they also
provide extremely cost-effective products. The cost-effectiveness of products,
growing demand for coffee, and growing popularity of coffee among young people
are likely to fuel expansion for the RTD coffee market.
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The food and
beverages sector has cemented its place among the global populace firmly over
the years. This sector attracts considerable investments and subsidies from
numerous government and non-government organizations. The trends and popularity
regarding specific sub-categories are dynamic and help in structuring the
overall growth. The trends are a way of answering the needs of the consumer.
The players in the food and beverages sector have to adapt to the changing
trends, which helps increase revenue-generation opportunities.
The world has
undergone a major shift in the way of living since the COVID-19 pandemic
struck. A notable change in the functioning of various businesses and sectors
has influenced their working mechanisms extensively. The food and beverage
sector is no stranger to this change. Transparency Market Research (TMR) has
studied many aspects concerning the difference between the trends in the
pre-pandemic and post-pandemic world across the food and beverage industry.
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Market Research (TMR) is a market intelligence company, providing global
business information reports and services. Our exclusive blend of quantitative
forecasting and trends analysis provides forward-looking insight for thousands
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gather and analyze information.
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