The global ready to drink (RTD) coffee market size was valued at USD 22.44 billion in 2019 and is projected to reach USD 64.78 billion by 2032, exhibiting a CAGR of 8.54% during the forecast period based on our analysis in the existing report. Asia Pacific dominated the ready to drink (RTD) coffee market with a market share of 65.73% in 2019. Moreover, the RTD Coffee market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 14.9 million by 2032, driven by the rising demand for convenient and on the go beverages among the consumers.

The popularity of “café culture” has brought ready-to-drink coffee to the center stage of the global marketplace. Global brands are eyeing this lucrative space amidst consumers shunning carbonated beverages and energy drinks for on-the-go and highly convenient coffee beverage.

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RTD Market Recovery Amid Global Project Restarts:

The global coronavirus pandemic initially caused significant disruption for businesses, with many manufacturing units and hubs shutting down. However, with the recent restart initiatives across various regions, RTD (Ready-to-Drink) vendors are breathing a sigh of relief, as offline stores are gradually reopening in many countries. These efforts provide companies with an opportunity to recover lost revenues by offering attractive services and promotions to attract customers back into stores.

The increasing adoption of fast-paced lifestyle habits has contributed significantly to the rising popularity of ready-to-go beverages, particularly coffee. Coffee is one of the world’s most consumed beverages, and demand for ready-to-go coffee has surged over the past few years. The growing consumption of canned and packaged drinks will also contribute to overall market growth. Additionally, the availability of varied product offerings will help boost product adoption worldwide. Companies are investing heavily in the development of flavored and healthier drinks, opening up new opportunities for market growth. RTD coffee brands are also introducing premium variants to attract a broader consumer base.

Innovations and Product Variants Driving Market Growth:

The market has witnessed significant growth due to product innovations and an increasing number of new product launches by major companies. The introduction of healthier ingredients in RTD coffee has attracted a wider audience, particularly consumers with an interest in healthy lifestyles. Several leading companies are focusing on developing products that cater to the growing demand for health-conscious options. For example, in February 2020, Stok Cold Brew, a Danone brand, launched a new variant of cold brew RTD coffee aimed at consumers who prioritize taste and convenience over ingredients. With this new product, Stok is poised to continue its revenue growth and strengthen its competitive position in the global market.

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Asia Pacific Set to Dominate the RTD Market:

The market analysis across five major regions—North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa—reveals that the Asia Pacific region is expected to emerge as the dominant player in the coming years. The region’s growth is largely driven by the presence of numerous large-scale local manufacturers in countries like India and China. There is a growing trend for cold brews and iced variants in these countries, aligning with regional consumer preferences. Additionally, the rising population in the region will significantly contribute to market expansion. As of 2019, the market in Asia Pacific was valued at USD 14.75 billion, and this value is projected to increase significantly in the coming years.

The North American market will also experience growth, primarily driven by the increasing popularity of cold brew drinks in the United States and Canada. The expansion of retail chains and growth in online sales will further propel the market in this region.

LIST OF KEY COMPANIES PROFILED:

  • PepsiCo (U.S.)
  • The Coca-Cola Company (U.S.)
  • Nestle S.A. (Switzerland)
  • JAB Holding Company (Luxembourg)
  • Asahi Group Holdings, Ltd. (Japan)
  • McDonald’s Corporation (U.S.)
  • Danone S.A. (France)
  • Dunkin’ Brands Group, Inc. (U.S.)
  • Suntory Beverage & Food (Japan)
  • LotteChilsung Beverage Co Ltd (South Korea)
  • Other players

Industry Developments:

March 2020:illy launched a new cold brew RTD coffee product called ‘illy Cold Brew’. The company claims that this new offering is naturally sweet and has minimal acidity, catering to the growing demand for refreshing and convenient cold coffee options.

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