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Report
North America Ready-to-Drink (RTD) Coffee - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
Market Report I 2024-02-17 I 117 Pages I Mordor Intelligence
The North America Ready-to-Drink Coffee Market size is estimated at USD 5.65 billion in 2024, and is expected to reach USD 7.25 billion by 2029, growing at a CAGR of 5.13% during the forecast period (2024-2029).
RTD coffee drinks are portable and convenient for on-the-go consumption. Additionally, the hot climate in some parts of the region makes cold RTD coffee a convenient and healthy choice over alternatives, such as soft drinks and energy drinks, that contain high sugar and synthetic ingredients. Moreover, health-conscious consumers seek functional coffee products with antioxidants, low sugar content, added protein, probiotics, and low caffeine.
As a result, dairy-free and vegan coffee formulations are increasingly being launched in the market to cater to the shifting preferences of consumers. These being packed in protective packaging makes them more resilient to damage. Furthermore, their wide availability in various distribution outlets, such as kiosks, convenience stores, and supermarkets, has strongly fueled the growth of the market over the review period.
Besides this, global giants are adopting strategies, such as product launches, partnerships, expansions, and acquisitions, to strengthen their geographical presence. For instance, in February 2022, Starbucks Corporation launched a new plant-based ready-to-drink coffee line in multiple flavors. The oat milk-based drinks were introduced in Caramel Waffle Cookie and Dark Chocolate Brownie variants in PET Bottle packaging.
North America RTD Coffee Market Trends
Supermarkets/Hypermarkets are the Most Preferred Channel of Distribution
Supermarkets and hypermarkets are some of the most visited retail outlets in the region owing to their proximity to residential areas and ease of accessibility, especially in larger cities and metropolitan areas. The availability of a wide range of RTD coffee from different brands has helped cater to varying consumer preferences. As a result, there is fierce competition differentiating the varieties of RTD coffee available on supermarket shelves. Moreover, manufacturers have been showcasing their product portfolios in these channels to reach an extensive consumer base. For instance, in March 2022, Canadian supermarket T&T Supermarkets opened more locations across Canada in 2022. The company plans to open two more stores in Western Canada, a new site at Fairview Mall in Toronto and one in Montreal, marking its first store there. The supermarket sells popular RTD coffee beverages, including those from the global giant Starbucks.
The United States Dominates the Market
The RTD coffee segment has been gaining a deeper foothold at a time when gourmet and convenience coffee have been taking center stage among American consumers and retailers, owing to its affordability and wide availability. The availability of RTD coffee in various flavors and ingredient profiles has increased its appeal among consumers of different ages. This factor has helped propel the sales of RTD coffee products over the past few years. Consumers have also been showing an affinity for functional RTD coffee products. These products allow players in the market to differentiate themselves from others through health claims. For instance, in February 2023, Starbucks launched olive oil-infused coffee in the United States in spring. The company claims that the studies suggest olive oil can reduce inflammation and help heart health.
North America RTD Coffee Industry Overview
The North American Ready-to-Drink (RTD) Coffee Market is highly competitive and leading players in the market studied have been experimenting with innovative flavors and offering plant-based milked coffee options to cater to the growing vegan population in the region. Additionally, mergers and acquisitions, product innovations, expansions, and partnerships with other companies are common strategies to gain market share in the region. Key players dominating the market include Starbucks Coffee Company, Monster Beverage Corporation, Danone SA, Inspire Brands, and Coca-Cola Company.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Health Benefits Associated With Coffee
4.1.2 Surge in Product Innovation
4.2 Market Restraints
4.2.1 Detrimental Health Effects of Caffeine Intake
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Packaging
5.1.1 Bottles
5.1.2 Cans
5.1.3 Other Packaging
5.2 Product Type
5.2.1 Cold Brew Coffee
5.2.2 Other RTD Coffee
5.3 Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Convenience/Grocery Stores
5.3.3 Online Stores
5.3.4 Other Distribution Channel
5.4 Geography
5.4.1 United States
5.4.2 Canada
5.4.3 Mexico
5.4.4 Rest of North America
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Starbucks Coffee Company
6.3.2 Nestle SA
6.3.3 Monster Beverage Corporation
6.3.4 JAB Holding Company
6.3.5 Danone SA
6.3.6 Beliv Company
6.3.7 Califia Farms, Llc
6.3.8 Inspire Brands Inc.
6.3.9 Nitro Beverage Co.
6.3.10 The Coca-cola Company
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