Market Trends of asia-pacific ready to drink coffee Industry
Consumers are increasingly seeking convenient and portable beverage options to fit their busy lifestyles, thereby driving segment sales
- Majorly younger consumers in the region have demonstrated a love of coffee that has driven the industry’s growth in a region known to be dominated by tea culture.
- The RTD coffee market is dominated by industry giants, which possess strong brand awareness among young consumers. In 2022, Starbucks, in particular, stood out in terms of brand awareness followed by Nestle.
- Compared to other countries in the region, China is slowly becoming a coffee-drinking nation, as consumption is growing at an incredible 15% annually, as opposed to the global rate of 2.2%.
- The demand for RTD coffee products is gaining traction among consumers. Consumers in the Asia-Pacific region prefer coffee over tea as it appeals to young and urban consumers.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Key players are launching RTD coffee containing a variety of taste profiles and dairy-free varieties to cater to a broader audience
- Boss Coffee excels in blending quality coffee with convenience and innovation, providing consumers with a quality coffee experience
