ALBANY, New York, September 17, 2018 /PRNewswire/ --
According to the latest market report published by Transparency Market Research, titled 'Ready-to-Drink Coffee Market - Global Industry Analysis Size, Share, Growth, Trends, and Forecast (2018 - 2026)', the revenue generated from ready-to-drink coffee has been estimated to be valued at US$ 9,141.7 Mn in 2018, which is projected to increase at a CAGR of 8.0% during the forecast period (2018-2026).
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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.
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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.
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Global Ready-to-Drink Coffee Market: Competition Dashboard
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.
Global Ready-to-Drink Coffee Market: Key Insights
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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