The convenience and instant nature offered by ready-to-drink coffee
are some of the major drivers for its market. Along with that,
growing urbanization, busy lifestyles, and changing consumer
preferences are some of the key factors affecting the ready-to-drink
coffee market. In addition to the grab-and-go convenience provided by
ready-to-drink coffee, it also comes in diverse types and flavors,
thus, giving consumers a variety to choose from according to their
tastes, likings, culture, and needs. The nature of ready-to-drink
coffee makes it a profoundly trend-driven market, and has a lucrative
potential to grow in the coming years. Further, ready-to-drink coffee
is available in a variety of packagings that include cans, tetra
packs, PET bottles, and glass bottles, offered in diverse package
volumes, making it easily accessible and handy for consumers to carry
anywhere. Another driving factor of ready-to-drink coffee is the
increasing socialization and social gatherings amongst various age
groups of people, especially the millennial population, which has
eventually increased the demand and need for easily available and
portable ready-to-drink coffee.
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APAC
Region Significant in the Ready-to-Drink Coffee Market
The APAC region is estimated to account for more than 59.9% of the
market share for ready-to-drink coffee in 2018 by value, with Japan
having the highest share in the region, with an estimated value share
of 48.1%, and a CAGR of 8.8% during the forecast period of 2018-2026.
The APAC region also contributes to the highest share in the global
ready-to-drink coffee market during the forecasted year, with a CAGR
of 9.1% and 66.1% market share by value, owing to growing
urbanization, increase in the disposable income of consumers, high
millennial population, and changing lifestyle and food & beverage
preferences.
E-Commerce
One of the Fastest Growing Distribution Channel in Ready-to-Drink
Coffee Market
Hypermarkets and supermarkets account for the largest market share of
ready-to-drink
coffee in 2018, with a market share of 39.6%, and are
expected to rise in the coming years. But the fastest-growing
distribution channel in ready-to-drink coffee market during the
forecast period is projected to be e-Commerce platforms, expected to
grow at a CAGR of 9.1% with a market share of 20.5%, owing to
technological and digital advancements, and increase in the number of
consumers, especially the millennial population using smartphones and
other digital mediums to buy various food, beverages, and grocery
products with just a click while sitting at their places.
TMR has profiled some of the prominent market participants in the
global ready-to-drink coffee market identified across the value
chain, which includes Nestlé S.A., Starbucks Corporation, PepsiCo
Inc., The Coca-Cola Company, McDonald’s Corp., The J.M. Smucker
Company, Suntory Holdings Limited, Monster Beverage Co., Keurig Dr
Pepper, illycaffè S.p.A, Lotte Chilsung Beverage Co., Caribou Coffee
Company, Inc, Asahi Group Holdings, Ltd., and Bulletproof 360, Inc.
among others.
Companies in the ready-to-drink coffee market are developing and
innovating new flavors, types, and blends of ready-to-drink coffee,
due to the constant demand for the same among consumers attributed to
varied taste preferences, regional and cultural choices, and needs.
In addition, various companies, these days, are offering
decaffeinated ready-to-drink coffee, owing to the rising awareness
among consumers about the ill-effects of high caffeine content on
health. Further, some key participants are also offering
ready-to-drink coffee energy drinks, targeting the health-conscious
millennial population, attributed to the busy lifestyles of consumers
these days, making them demand instant energy supply.
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