Ready-to-Drink (RTD) Coffee - Colombia

The Ready-to-Drink (RTD) Coffee market in Colombia has been experiencing significant growth in recent years.

Customer preferences: Colombian consumers have shown a growing interest in convenient and on-the-go beverage options, which has contributed to the rise in popularity of RTD coffee. The fast-paced lifestyle of urban dwellers has led to an increased demand for ready-to-consume products that can be easily consumed while commuting or during work breaks. Additionally, the younger generation in Colombia, who are more open to trying new and innovative products, have embraced RTD coffee as a trendy and convenient beverage option.

Trends in the market: One of the key trends in the RTD coffee market in Colombia is the growing demand for premium and specialty coffee products. Colombian consumers are known for their appreciation of high-quality coffee, and this preference extends to the RTD coffee market as well. As a result, there has been a surge in the availability of premium RTD coffee brands that cater to the discerning taste buds of Colombian consumers. Another trend in the market is the increasing focus on health and wellness. Colombian consumers are becoming more conscious of their dietary choices and are seeking healthier alternatives to traditional sugary beverages. This has led to the introduction of RTD coffee products that are low in sugar, lactose-free, and made with natural ingredients. The emphasis on health and wellness has also driven the demand for RTD coffee products that are fortified with vitamins and minerals.

Local special circumstances: Colombia is renowned for its coffee production, and this has had a significant impact on the RTD coffee market. The country's rich coffee heritage and the availability of high-quality coffee beans have contributed to the development of a thriving RTD coffee industry. Colombian consumers have a strong affinity for their locally produced coffee, and this has created a sense of pride and loyalty towards domestic RTD coffee brands. Furthermore, the coffee culture in Colombia is deeply ingrained in the daily lives of its people. Coffee is not just a beverage but a social experience that is often shared with friends and family. This cultural aspect has influenced the consumption patterns of RTD coffee in Colombia, with consumers seeking products that can recreate the authentic coffee experience in a convenient format.

Underlying macroeconomic factors: The growing economy and rising disposable incomes in Colombia have played a crucial role in the development of the RTD coffee market. As consumers have more purchasing power, they are willing to spend on premium and innovative beverage options. This has created a favorable environment for the expansion of the RTD coffee market, with both local and international players capitalizing on the growing demand. Additionally, the increasing urbanization in Colombia has led to a shift in consumer lifestyles. As more people migrate to cities and adopt a fast-paced lifestyle, the demand for convenient and on-the-go products like RTD coffee has surged. The urban population in Colombia is expected to continue growing, which will further fuel the growth of the RTD coffee market. In conclusion, the Ready-to-Drink (RTD) Coffee market in Colombia is experiencing significant growth due to the preferences of Colombian consumers for convenient and on-the-go beverages, the demand for premium and specialty coffee products, the focus on health and wellness, the country's rich coffee heritage and cultural affinity towards coffee, and the underlying macroeconomic factors such as the growing economy and urbanization.

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.