Ready-to-Drink (RTD) Coffee - Armenia

Armenia, a landlocked country in the South Caucasus region, is experiencing a growing demand for Ready-to-Drink (RTD) Coffee. This trend can be attributed to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Armenia are shifting towards convenience and on-the-go consumption. As the pace of life becomes faster and busier, consumers are seeking convenient and quick options for their coffee fix. RTD Coffee offers a ready-made solution that can be easily consumed anytime and anywhere. Additionally, the younger generation, which forms a significant portion of the population, is more inclined towards trying new and innovative products, making RTD Coffee an appealing choice. Trends in the market indicate a growing interest in coffee culture and Western influences. Armenia has seen a rise in coffee shops and cafes, with a focus on specialty coffee and unique brewing methods. This trend has created a heightened awareness and appreciation for coffee, leading to an increased demand for RTD Coffee as consumers look for similar experiences in a convenient format. Furthermore, the influence of Western lifestyles and habits has also contributed to the popularity of RTD Coffee, as it aligns with the global trend of on-the-go consumption. Local special circumstances in Armenia, such as the climate and cultural traditions, also play a role in the development of the RTD Coffee market. Armenia experiences hot summers, making cold beverages a popular choice among consumers. RTD Coffee provides a refreshing and convenient option for those looking to cool down while enjoying their favorite beverage. Additionally, Armenian culture places importance on socializing and gathering with friends and family. RTD Coffee allows individuals to easily share and enjoy coffee moments together, fostering a sense of community and connection. Underlying macroeconomic factors further contribute to the growth of the RTD Coffee market in Armenia. The country has been experiencing steady economic growth, leading to an increase in disposable income and a rising middle class. As consumers have more purchasing power, they are willing to spend on premium and convenient products, including RTD Coffee. Furthermore, globalization and increased international trade have made it easier for foreign brands and products to enter the Armenian market, expanding the options available to consumers. In conclusion, the Ready-to-Drink Coffee market in Armenia is developing due to changing customer preferences, emerging market trends, local special circumstances, and underlying macroeconomic factors. The demand for convenience, the influence of coffee culture and Western lifestyles, the climate and cultural traditions, as well as economic growth and globalization, are all contributing to the growth of the RTD Coffee market in Armenia.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.