The ready to drink (RTD) coffee category first became a major soft drinks category in Japan. The category is however catching up in other parts of the world too like North America and Asia. In North America, Starbucks Frappuccino dominated the market for a long time but now is facing competition from a wide range of alternatives cold brews and RTDs. RTD Coffees can be sold in Japanese style cans or American styled bottles.
Bottles are usually linked to indulgence and are designed to be resealed and consumed over a longer period of time while cans are for immediate consumption and disposal. An increase in demand can be predicted for the Ready-to-drink (RTD) Coffee market owing to the fast paced and busy life of consumers. It is also seen as a healthier alternative to carbonated drinks that are associated with health hazards like obesity and hypertension. Owing to its antioxidant properties and presence of low calories, RTD coffee is gaining popularity as an instant energy source.
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Market Dynamics
The global ready to drink (RTD) coffee market is estimated to reach USD 116.13 billion in 2022 from USD 71.43 billion in 2017. The increased purchasing power of individuals and the modernization of storage and transport are among the major factors supporting the growth of RTD coffee market. The demand for RTDs is high among the millennials looking out for instant energy. The most preferred channel for distribution so far is supermarkets or hypermarkets accounting for around 35% of the market share. The rising caf culture is going to be a major boost to this market.
The changing retail scenario and the constantly growing e-commerce industry might change the dynamics of the market in terms of distribution. The packaging type for these products has a direct impact on its sales. The premium segment is expected to further grow as manufacturers have started to boost the nutraceutical ingredients to increase its nutritive value. Also they are trying to introduce new flavors to capitalize on its brand value.
Market Segmentation
Based on product type, the Ready to Drink market is segmented into RTD coffee and RTD tea market. The RTD coffee market however is clearly dominating the market and is available in various variants of coffee. Based on packaging type, the market is segmented into canned packaging, glass bottle packaging, PET bottle packaging among others. Lastly, the RTD market is further classified based on its distribution channels into Supermarket or Hypermarkets, Convenience stores, Food service and others.
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Geographic Analysis
In 2017, the RTD coffee market was clearly dominated by the Asia Pacific region in terms of market share covering almost over 40% of the total market. Japan and China have been the major contributors having large number of coffee plantations. Countries like Thailand, Indonesia and India are however catching up and thus there seems to be a significant boost to the market in the near future. The Africa & Middle East is expected to grow at a CAGR of over 7% from 2017 to 2022. The growing foodservice segment in this region can further boost the product growth.
Key Players
Some of the key players in the Industry are Suntory Holdings Ltd., The Coca-Cola Company Ltd., Nestle S.A, Unilever NV, Uni-President Enterprises, Pepsico Inc., Tsing Hsin International Group, Starbucks Corporation and Arizona Beverage Company.
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