Global Iced/RTD Coffee Drinks 2019 - Key Insights and Drivers behind the Iced/RTD Coffee Drinks Market Performance
The report “Global Iced RTD Coffee Drinks Report 2019” acts as an essential tool for companies active or planning to venture in to Global Iced RTD Coffee (Soft drinks) market. The comprehensive statistics within the research handbook provides insight into the operating environment of the market and also ensures right business decision making based on emerging trends and industry model based forecasting.
GlobalData considers Iced RTD Coffee Drinks as primarily non-carbonated packaged ready to drink (RTD) and non-ready to drink (non-RTD) coffee-based drinks which may be cold- or hot-filled, based on brewed coffee or coffee extract.
Rapid urbanization in locations across the globe, encouraged the iced/RTD coffee category, particularly with the younger demographic. The popularity of the category in China was aided by the strong urban demographic in the country, which is also the case for Kuwait, which is 100% urban.
Furthermore, higher-than-average temperatures across Western Europe boosted demand for iced/RTD coffee beverages, in particular for on-premise locations in Austria, Finland, and Denmark. This is interesting as Finland and Denmark are hindered by extremely high sugar taxes, which in turn should elevate strong preference away from the category, In Austria, the weather aided category blurring from its hot coffee counterpart, which is a vital element of Austrian culture. Strong private label and discount presence in Germany also contributed to category success, as this trendy, and premium category was affordable to a larger majority.
Volume surges for the category were a result of strong performances in China, Canada, and Saudi Arabia which all benefited from a rise in economic power driving consumer buying behavior. Eastern and Western Europe also saw upsurges, influenced by the United Kingdom, Republic of Ireland, and Croatia as product launches and a rise in all pack sizes for Western Europe signaled adoption.
Continued success in Asia is expected for category development, followed by strong gains in North America. Growth over 2019–2024 is forecast to lend itself well to Middle East North Africa and Western Europe, with gains forecast specifically in Kuwait, Qatar, and Republic of Ireland. North America experienced strong competition, with McDonald’s introducing their RTD beverage under the McCafé brand. This launch signified the importance of the category, where QSR already dominates near 50% of all consumed iced/RTD coffee drinks in the region.
Innovations have prospered in this category, with manufactures adapting to future trends in flavor and variety. Coffee blended with innovative mixtures - such as lime in Japan, an added cookie in Austria, and lemonade/blood orange mix in the United States - meets consumer desires to expand into the unknown. Development of flavor trends will keep this category ahead of competition.
Trends in grab-and-go across the globe have not only increased off-premise consumption, but have amplified the need for single serve pack sizes. Sizes over 20cl gained the most traction, promoting the need for on-the-go caffeine fixes. Interestingly, large pack sizes also gained volume, particularly in Latin America, Australasia, and Middle East North Africa, where consistent warm weathers have a strong influence.
Global Iced RTD Coffee Drinks Report 2019 report covers over 8 global regions comprising of Africa, Asia, Australasia, Easter Europe, Western Europe, Latin America, North America, Middle East and North Africa, provides -
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