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

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

Customer preferences: Paraguayans have shown a growing preference for convenience and on-the-go consumption, which has contributed to the rise in popularity of RTD coffee and tea products. The busy lifestyles of consumers in Paraguay have led to an increased demand for ready-to-drink beverages that can be easily consumed while commuting or during work hours. Additionally, the younger generation in Paraguay has shown a particular affinity for RTD coffee and tea, as they are seen as trendy and fashionable beverages.

Trends in the market: One of the key trends in the RTD Coffee & Tea market in Paraguay is the introduction of innovative flavors and varieties. Manufacturers are constantly introducing new and unique flavors to cater to the evolving tastes of consumers. This trend has been driven by the increasing demand for unique and exotic flavors, as well as the desire for healthier options. For example, there has been a growing demand for RTD coffee and tea products that are low in sugar and calories, as consumers become more health-conscious. Another trend in the market is the growing popularity of premium and specialty RTD coffee and tea products. Paraguayans are increasingly willing to pay a premium for high-quality and gourmet beverages. This trend has been fueled by the rising disposable incomes and changing consumer preferences. As a result, manufacturers are focusing on developing premium RTD coffee and tea products that offer a unique and indulgent experience.

Local special circumstances: Paraguay has a strong coffee culture, with coffee being a staple beverage for many Paraguayans. This cultural preference for coffee has translated into a growing demand for RTD coffee products. Additionally, Paraguay has a favorable climate for tea production, which has led to a local tea industry. This has contributed to the availability and popularity of RTD tea products in the market.

Underlying macroeconomic factors: The growth of the RTD Coffee & Tea market in Paraguay can also be attributed to favorable macroeconomic factors. The country has experienced stable economic growth in recent years, which has resulted in rising incomes and improved living standards. This has increased the purchasing power of consumers, allowing them to spend more on discretionary items such as RTD coffee and tea. Additionally, the growing urbanization and modernization of Paraguay have led to an increase in the number of cafes, convenience stores, and supermarkets, which has further boosted the accessibility and availability of RTD coffee and tea products. In conclusion, the Ready-to-Drink (RTD) Coffee & Tea market in Paraguay is developing due to changing customer preferences, including a growing demand for convenience and on-the-go consumption. The market is also driven by trends such as the introduction of innovative flavors and the popularity of premium and specialty products. Local special circumstances, such as Paraguay's strong coffee culture and favorable climate for tea production, have further contributed to the growth of the market. Favorable macroeconomic factors, including stable economic growth and rising incomes, have also played a role in the development of the market.

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.