The ‘Global Ready to Drink Coffee Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global ready to drink coffee market, assessing the market based on its segments like packaging, product types, distribution channels, and regions.
Ready to Drink Coffee Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Over USD 24.26 Billion
• Forecast CAGR (2023-2028): 7.90%
A refrigerated or chilled coffee that is available in the ready made form in a can or a bottle is referred to as a ready to drink coffee. This concept of ready-made coffee began in the middle of 1990s with Starbucks selling its highly successful Frappuccino through its stores in the US. From there on, a variety of ready to drink coffees has come up in the market, with a range of coffee companies introducing their individual range of the product. For instance, Costa Coffee today offers three of its extremely popular types of coffee in cans, on the other hand Blue Bottle, a US coffee chain, provides iced coffee, including dairy milk latte, in cartons.
However, it is not just the big corporations that have entered the progressing ready to drink coffee market, developing companies like Philadelphia-based La Colombe have also taken benefits from this emerging trend.
There has been a swift growth of the café and coffee culture amongst both youths and adults, leading to an increase in the demand for coffee amid a larger group of people. Also, there has been a higher demand for accessible, reasonably priced, and ready to drink coffee, thus resulting in the progress of the ready to drink coffee market.
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In addition, there is an improved flexibility for consumers as they can buy ready to drink coffee separately or in wholesale to keep it stocked at home for later use. Besides, the ready to drink coffee is considered to be a great source of instant energy and is attracting youngsters and the middle-aged working class of people, resulting in the further development of the global ready to drink coffee market.
Moreover, the rising awareness towards health and fitness has urged a large number of young people to get engaged in sports, gym training, and other physical fitness activities, increasing the necessity and demand for more instant energy alternatives and beverages.
Ready to Drink Coffee Industry Definition and Major Segments
Ready-made or pre-made coffee beverages that are packaged and are readily available for consumption such as canned coffee drinks are called ready to drink coffee. A few of the normally available ready to drink coffee are guarana, ginseng, acai berry, yerba mate, taurine, and iced variations. These products are generally stored in cool places or at a minimal temperature to sustain the formulation, for the consumers to drink them later. There has been a growth in the popularity of these ready-made coffee as the consumers can consume them instantaneously, are convenient to handle, and can be bought as a single item or in large numbers.
Based on packaging, the market can be segmented into:
• Bottle
• Cans
• Others
On the basis of product type, the market has been classified into:
• Cold Brew Coffee
• Other RTD Coffee
Based on distribution channels, the market has been classified into:
• Supermarkets and Hypermarkets
• Speciality Stores
• Online
• Others
Based on regions, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Ready to Drink Coffee Market Trends
Leading players in the coffee market are revolutionising, improving, and providing exceptional and flavoured pre-made coffee drinks that is encouraging the growth of the ready to drink coffee market. Easy availability of speciality coffee flavours like, vanilla and hazelnut are the primary trends in the market.
Bottles hold a significant share of the ready to drink coffee market owing to the convenience offered by them to consumers and the cost effectiveness associated with producing bottled products by companies. Furthermore, these bottles are capable of retaining flavours in a better way and can be closed with the use of a cap, enabling consumers to not finish off the coffee drink at one go, and keep it for later consumption. Important coffee brands have started using PET bottles to package their ready-made coffee drinks.
These PET bottles offer extended shelf life and come in various sizes including bigger bottles for home usage.
On the basis of regions, the Asia Pacific is a significant ready to drink coffee market because of the emerging coffee culture, consumer interest towards on-the-go coffee products, and growing availability of ready to drink coffees by leading brands. Likewise, due to the busy lifestyles of the consumers and comparatively lesser number of coffee shops within the region, ready to drink coffee is gaining a lot of popularity. North America on the other hand is also anticipated to account for a major share in the global ready to drink coffee market owing to the increased inclination towards coffee and rising consciousness for costs.
Key Market Players
The major players in the global ready to drink coffee market report are Nestlé S.A., The Coca-Cola Company, Asahi Group Holdings Ltd, Lotte Chilsung Beverage Co.,Ltd., and Arla Foods Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
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