Ready-to-Drink (RTD) Coffee - Montenegro

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

Customer preferences: One reason for the growth of the RTD Coffee market in Montenegro is the changing preferences of consumers. With a fast-paced lifestyle and increasing urbanization, Montenegrin consumers are seeking more convenient and on-the-go options for their coffee consumption. RTD Coffee provides a convenient solution for consumers who are looking for a quick and ready-to-drink coffee option. Additionally, the younger generation in Montenegro is more open to trying new and innovative beverages, and RTD Coffee fits into this trend.

Trends in the market: The RTD Coffee market in Montenegro has seen a rise in the number of product offerings and flavors. Manufacturers are introducing new and innovative flavors to cater to the diverse preferences of consumers. This includes flavors such as caramel, mocha, vanilla, and even unique local flavors. The market is also witnessing the introduction of healthier options, such as low-sugar or sugar-free RTD Coffee, to cater to the increasing demand for healthier beverages.

Local special circumstances: Montenegro is a popular tourist destination, attracting visitors from around the world. The growing tourism industry in the country has contributed to the growth of the RTD Coffee market. Tourists, especially those from countries with a strong coffee culture, are looking for familiar coffee options while traveling. RTD Coffee provides a convenient and familiar option for tourists who want to enjoy their coffee on the go.

Underlying macroeconomic factors: Montenegro has experienced steady economic growth in recent years, which has led to an increase in disposable income among consumers. This increase in disposable income has allowed consumers to spend more on convenience products such as RTD Coffee. Additionally, Montenegro's membership in the European Union has opened up new opportunities for market expansion and trade, further fueling the growth of the RTD Coffee market. In conclusion, the Ready-to-Drink (RTD) Coffee market in Montenegro is growing due to changing customer preferences, the introduction of new flavors and healthier options, the influence of the tourism industry, and the country's economic growth. As the market continues to evolve, it is expected to attract more players and offer a wider range of choices for consumers.

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.