Wilmington, Delaware, United States, March 14, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - RTD coffee was valued at US$ 12.6 billion in 2022. Between 2023 and 2031, it is expected to increase at a CAGR of 8.4%, reaching US$ 26.0 billion by the end of the forecast period. RTD coffee is an accessible and convenient alternative for coffee enthusiasts on the go. RTD coffee has been offered in canned and bottled forms to achieve its success.
With the introduction of increasingly sophisticated flavor combinations in the RTD coffee sector. Consumers seeking sustainable and user-friendly options are increasingly purchasing organic and fair-trade coffees. Coffee that is sold in RTD forms is primarily distributed through convenience stores and mass merchandisers. This provides consumers with a convenient and easy way to obtain RTD coffee products.
Cold coffee is a trend among Generation Z, providing growth opportunities for brands selling ready-to-drink coffee. In the beverage industry, functional ingredients have become a new and exciting trend, which is also evident in RTD coffee. As consumers become more conscious of their health and productivity, brands incorporate collagen, proteins, electrolytes, and adaptogens into their products.
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Global RTD Coffee Market: Key Players
Among the leading RTD coffee manufacturers, portable coffee and coffee refreshment products are being developed to meet the growing consumer demand for affordable, better-tasting coffee.
RTD coffee vendors constantly experiment with flavors and packaging and expand their product portfolios by partnering with key players. Some prominent players profiled by Transparency Market Research are as follows:
- Nestle S.A.
- Starbucks Corporation
- PepsiCo Inc.
- McDonald’s Corporation
- Keurig Dr Pepper Inc.
- Monster Beverage Co.
- The Coca-Cola Company
- The J.M. Smucker Company
- Caribou Coffee Company
- Suntory Holdings Limited
- Lotte Chilsung Beverage Co.
- Asahi Group Holdings, Ltd.
- illycaffè S.p.A.
- Peet’s Coffee & Tea, Inc.
- Bolthouse Farms, Inc.
- Heartland Food Products Group
- Tim Horton’s Inc.
- Califia Farms LP
Key Developments
- In July 2023, Nestlé introduced NESCAFÉ Barista Style, the brand's first pan-European Ready to Drink coffee line, in Romania. With the new NESCAFÉ flavors, Romanians can enjoy their favorite beverage anytime, anywhere, ice cold, which is perfect for summer.
- In July 2023, Keurig Dr Pepper Inc. acquired 33% of the La Colombe Coffee Roasters for $300 million. Besides distributing La Colombe ready-to-drink coffee and selling La Colombe K-cups in Canada and the United States, this investment is part of a broader partnership between the two companies.
Key Findings of the Market Report
- The demand for flavored RTD coffee will grow as consumers increasingly desire different flavors.
- Increasing environmental awareness and healthy consumption will lead to significant growth in the glass bottle packaging market in the coming years.
- As the food service sector continues to grow, the RTD coffee market is expected to grow significantly.
- In 2022, Asia Pacific held the largest share of the global RTD coffee market.
Global RTD Coffee Market: Growth Drivers
- Consumers' busy lifestyles drive consumption of convenient beverage options. The convenience and ease of preparing RTD coffee make them the perfect option for people who prefer ready-to-drink coffee.
- With the rise of cafe culture, specialty coffee beverages have become increasingly popular. High-quality beans are often incorporated into RTD coffee brands, providing consumers with a cafe-like experience in a ready-to-drink format.
- The RTD coffee market continually introduces new flavors, packaging options, and functional ingredients. This innovation helps attract consumers' attention as their preferences continue to evolve.
- The demand for healthier beverages is growing as consumers become more health-conscious. As health and wellness trends evolve, RTD coffee brands offer products that are reduced in sugar, composed of natural ingredients, and offer functional benefits.
- A wide range of RTD coffee products are now accessible to consumers through internet-based e-commerce platforms and online retailing. As a result of the convenience of online shopping, the market has become more accessible and has expanded.
- As environmental issues become more prevalent, RTD coffee brands are increasingly focusing on sustainable sourcing and packaging solutions.
Global RTD Coffee Market: Regional Landscape
- As urbanization continues to accelerate in the Asia Pacific region, the pace of life has increased. The convenience of RTD coffee products makes them appealing for consumers on the go.
- As cafes and coffee shops have grown in popularity, consumers have become more aware of and appreciative of coffee. Due to consumers' desire for convenience and tasty experiences, RTD coffee has become increasingly popular.
- Flavors, packaging, and formulations have continuously evolved on the market. As consumers' preferences change, companies create new, unique RTD coffee products to meet their needs.
- Healthy beverage options are becoming increasingly popular as the public becomes more aware of health and wellness. RTD coffee products have several health-conscious ingredients, such as reduced sugar levels and functional ingredients.
- Consumers can purchase RTD coffee products from e-commerce platforms and convenience stores, making them accessible to a wide range of consumers. In recent years, this distribution channel has played an important role in driving market growth.
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Global RTD Coffee Market: Segmentation
By Product Type
- Café Latte
- Cappuccino
- Espresso
- Café Mocha
- Flat White
- Cold Brew Coffee
- Decaffeinated
- Others
By Flavor
- Regular
- Flavored
- Vanilla
- Hazelnut
- Caramel
- Chocolate
- Almond
- Others
By Packaging
- Canned
- Glass Bottles
- PET Bottles
- Tetra Packs
- Others
By Volume
- 100-250 ml
- 250-400 ml
- 400-550 ml
- 550 ml and Above
By Distribution Channel
- Food Service
- Modern Stores
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Wholesale Club Stores
- Others
- Online Retail
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
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