The global RTD coffee market size is projected to reach USD 42.36 billion by the end of 2027. The rising consumption of packaged and bottled beverages will create several growth opportunities for companies operating in the market. The market was worth USD 22.44 billion in 2019 and will exhibit a CAGR of 8.31% during the forecast period, 2020-2027.
As Project Restarts are Initiated across the World, RTD Vendors Breathe a Sigh of Relief
The recent coronavirus outbreak has certainly created a sense of panic among major businesses, with several operating hubs and manufacturing units being forced to shut down. But the recent project restart campaigns have provided relief for RTD vendors as offline stores are also being reopened in numerous countries across the world. As a result, companies will look to capitalize on the losses in the previous months by providing attractive services and offers and pulling more customers.
The rising popularity of ready-to-go drinks is consequential to the adoption of fast-paced lifestyle habits across the world. Coffee is one of the most widely consumed beverages across the world and the demand for ready-to-go coffee has risen dramatically over the past few years. The increasing consumption of the product has created several growth opportunities for manufacturers, distributors, and retailers in this market. The increasing consumption of canned and packaged beverages will also contribute to the growth of the overall market in the coming years. Variations in product offerings will lead to wider adoption of the product across the world. The massive investment in the development of flavored as well as healthy drinks will present several growth opportunities. Ready to drink coffee providers are introducing premium variants with the bid to acquiring a wider consumer base.
Increasing Variants and Product Innovations by Major Companies will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of product launches and the rising emphasis on product innovations by major companies will constitute an increase in the overall market size in the coming years. The use of healthy ingredients in RTD coffee has helped manufacturers acquire a wider consumer base, owing to the adoption of healthy lifestyle habits. Several large scale companies are looking to introduce products that will help them cater to the increasing need for health-friendly products.
In February 2020, Stok Cold Brew, a Danone brad, announced the launch of a new product. The company introduced a new variant in cold brew RTD coffee. The company claims that this product is bends towards consumers whose priorities are taste and convenience than the content and ingredient itself. Through this product, Stok will continue to generate massive revenues as it has done in the past and subsequently establish itself as a strong competitor on the global frontier.
Asia Pacific Likely to Emerge Dominant; Presence of Major Large Scale Manufacturers will Aid Growth
The report analyses the latest RTD coffee market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The market derives growth from the presence of numerous large scale local manufacturers in several countries. It is observed that several companies in countries such as India and China are focused on cold brews and iced variants, which is consequential to the preference of the people in this region. The rising population across the region will also have a huge impact on the growth of the regional market. As of 2019, the market in Asia Pacific was worth 14.75 billion and this value is projected to increase at a considerable pace in the coming years.
The market in North America will derive growth from the increasing popularity of cold brew drinks in the United States as well as Canada. The increasing retail chains and online sales will also contribute to the growth of the ready to drink coffee market in this region.
List of the Leading Companies Profiled in the RTD Coffee Market Research Report are:
- PepsiCo (United States)
- The Coca-Cola Company (United States)
- Nestle S.A. (Switzerland)
- JAB Holding Company (Luxembourg)
- Asahi Group Holdings, Ltd. (Japan)
- McDonald’s Corporation (United States)
- Danone S.A. (France)
- Dunkin’ Brands Group, Inc. (United States)
- Suntory Beverage & Food (Japan)
- LotteChilsung Beverage Co Ltd (South Korea)
- Other players
Industry Developments:
March 2020: illy announced the launch of a new cold brew‘illy Cold Brew’ RTD coffee. The company claims that the product is naturally sweet and has minimal acidity.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/industry-reports/ready-to-drink-rtd-coffee-market-100285
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