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Ready-To-Drink (RTD) Coffee Beverage Market Report 2024 - RTD Coffee Market Share And Growth
Ready-To-Drink (RTD) Coffee Beverage Market
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According to The Business Research Company's, The ready-to-drink (RTD) coffee beverage market size has grown strongly in recent years. It will grow from $32.35 billion in 2023 to $34.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increasing consumer convenience, growth in health consciousness, growth in disposable income, increasing awareness of cold brew, and growth in coffee shops.
The ready-to-drink (RTD) coffee beverage market size is expected to see strong growth in the next few years. It will grow to $44.20 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing urbanization, increasing global coffee culture, growing product premiumization, increasing focus on organic and natural ingredients, and growing on-the-go consumption. Major trends in the forecast period include technological advancements, product innovation, customization and personalization, innovations in packaging, and demand for sustainably sourced coffee.
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Market Drivers and Trends:
The growing health consciousness among consumers is expected to propel the growth of the ready-to-drink (RTD) coffee beverage market going forward. Health consciousness is an awareness and proactive attitude toward maintaining and improving overall health and well-being through informed lifestyle choices. The growing health consciousness among consumers is due to shifts in dietary preferences, the influence of health campaigns, and concerns about environmental impact. Ready-to-drink (RTD) coffee provides a convenient, portion-controlled, and often healthier coffee option, ideal for health-conscious individuals. For instance, in April 2022, according to the International Food Information Council, a US-based nonprofit organization, around 52% of Americans in 2022 followed a diet or eating pattern, a significant rise from 39% in 2021 and 43% in 2020. Therefore, the growing health consciousness among consumers is driving the growth of the ready-to-drink (RTD) coffee beverage market.
Major companies operating in the ready-to-drink (RTD) coffee beverage market focus on developing innovative solutions, such as plant-based coffee, to address health concerns. Plant-based coffee is made with non-dairy, plant-derived milk substitutes such as almond, oat, soy, or coconut milk instead of dairy milk. For instance, in April 2023, Chamberlain Coffee, a US-based coffee company, launched ready-to-drink plant-based cold brew lattes to provide high-quality Chamberlain Coffee products in a convenient, on-the-go format. This coffee flavor lineup includes a Mocha Latte, a Cinnamon Bun Latte, a Vanilla Latte, and a traditional Cold Brew Latte. The ready-to-drink plant-based cold brew lattes provide a convenient, dairy-free coffee option for consumers seeking a satisfying, sustainable, and portable caffeine boost.
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Major Key Players of the Market:
PepsiCo Inc., The Coca-Cola Company, Starbucks Corporation, Danone S.A., McDonald's Corporation, Asahi Group Holdings Ltd., Uni-President Enterprises Corporation, Keurig Dr Pepper Inc., Ajinomoto General Foods Inc., Suntory Beverage & Food Limited, Monster Beverage Corporation, Nongfu Spring Co. Ltd., Green Mountain Coffee Roasters Inc., Lotte Chilsung Beverage Co. Ltd., Chobani LLC, Illycaffè S.p.A., Blue Bottle Coffee Inc., Caribou Coffee Company Inc., Califia Farms LLC, Coffee Day Enterprises, La Colombe Coffee Roasters, Caffe Bene Co. Ltd., UCC Ueshima Coffee Co. Ltd., High Brew Coffee Inc., Dunkin' Brands Group Inc.
Ready-To-Drink (RTD) Coffee Beverage Market 2024 Key Insights:
• The ready-to-drink (RTD) coffee beverage market size is expected to see strong growth in the next few years. It will grow to $44.20 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Health Conscious Consumers Catalysts For RTD Coffee Market Growth
• The Rise Of Plant-Based Alternatives In RTD Coffee Beverages
• North America was the largest region in the ready-to-drink (RTD) coffee beverage market in 2023
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