The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including Ready-To-Drink (RTD) Coffee Market.
It was estimated prior to this unanticipated outbreak Ready-To-Drink (RTD) Coffee Market will reach CAGR of 7.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Ready-To-Drink (RTD) Coffee Market Insights
Ready-to-drink (RTD) coffee market to witness a healthy CAGR of 7.2% during the forecast period. The growing demand for ready-to-drink (RTD) coffee is mainly due to the increasing obese population on account of busy lifestyle. Ready-to-drink is used as an instant source of energy.
Market Share Analysis
Ready-To-Drink (RTD) Coffee Market Share: By Packaging Type
Based on the packaging type, the market is segmented as bottles, cans and other packaging. The bottles segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The growth of the segment is on account of it offering attractive/premium looks to the product and increasing the shelf life of coffee and also providing more benefits than just holding the product.
Ready-To-Drink (RTD) Coffee Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest and North America to be the fastest-growing ready-to-drink (RTD) coffee market during the forecast period, with China, Japan, India, and Australia being the major countries offering promising growth opportunities. The growth of the region’s market is triggered by the increasing calorie-conscious consumers, which is increasing the rate of usage for antioxidant-enriched drinks and highly populated countries in the south east Asia consuming a large chunk of these products. North America and Europe are also expected to offer substantial growth opportunities over the forecast period.
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