Dublin, March 22, 2024 (GLOBE NEWSWIRE) — The “North America Ready-to-Drink (RTD) Coffee – Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 – 2029)” report has been added to ResearchAndMarkets.com’s offering.
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.
A selection of companies mentioned in this report includes
- Starbucks Coffee Company
- DD IP Holder LLC
- The Coca-Cola Company
- Super Coffee
- Artemis Brew Ltd
- The Hershey Company
- NITRO Beverage Co.
- Taste Nirvana
For more information about this report visit https://www.researchandmarkets.com/r/r564ev
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