Ready-to-Drink (RTD) Coffee & Tea - Montenegro

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

Customer preferences: Montenegrin consumers have shown a growing preference for convenience and on-the-go products, which has translated into an increased demand for RTD coffee and tea beverages. These beverages offer a quick and easy solution for busy individuals who want to enjoy their favorite coffee or tea flavors without the need for brewing or steeping. Additionally, the younger generation in Montenegro has embraced the global trend of coffee culture, seeking out new and innovative flavors and experiences.

Trends in the market: One of the key trends in the RTD Coffee & Tea market in Montenegro is the emergence of new and unique flavors. Market players have been introducing a wide range of flavors to cater to the diverse tastes of consumers. From traditional coffee and tea flavors to more exotic options such as matcha and chai, there is something for everyone in the market. This trend has been driven by the desire to offer consumers a unique and differentiated experience, as well as to attract new customers. Another trend in the market is the focus on health and wellness. Montenegrin consumers are becoming increasingly conscious of their health and are seeking out products that are natural, low in sugar, and free from artificial additives. Market players have responded to this trend by introducing healthier options in their RTD coffee and tea beverages, such as organic and sugar-free varieties. This trend is expected to continue as consumers prioritize their well-being and look for healthier alternatives.

Local special circumstances: Montenegro is a popular tourist destination, attracting visitors from all over the world. This has had a positive impact on the RTD Coffee & Tea market, as tourists often look for convenient and refreshing beverages to enjoy during their travels. Market players have capitalized on this opportunity by offering a wide range of RTD coffee and tea options in hotels, cafes, and tourist hotspots. The tourism industry has played a significant role in driving the growth of the market in Montenegro.

Underlying macroeconomic factors: Montenegro has experienced steady economic growth in recent years, which has contributed to the rise in disposable income among consumers. This increase in purchasing power has allowed consumers to indulge in premium and higher-priced RTD coffee and tea beverages. Additionally, the growing middle class in Montenegro has led to an expansion of the consumer base for RTD coffee and tea products. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Montenegro is developing due to customer preferences for convenience and on-the-go products, the emergence of new and unique flavors, the focus on health and wellness, the influence of the tourism industry, and the underlying macroeconomic factors of steady economic growth and increased disposable income. As these trends continue to shape the market, it is expected that the RTD Coffee & Tea market in Montenegro will continue to grow and evolve in the coming years.

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.