Ready-to-Drink (RTD) Coffee - Nicaragua

The Ready-to-Drink (RTD) Coffee market in Nicaragua is experiencing significant growth and development in recent years.

Customer preferences: Nicaraguan consumers are increasingly opting for convenience and on-the-go options, which has contributed to the rise in popularity of RTD coffee. The busy lifestyles and growing urbanization in the country have led to a higher demand for convenient and ready-to-consume products. RTD coffee provides a quick and easy solution for consumers who are looking for a caffeine boost during their busy schedules.

Trends in the market: One of the key trends in the RTD coffee market in Nicaragua is the increasing availability and variety of products. International coffee brands have recognized the potential of the Nicaraguan market and have introduced a wide range of RTD coffee options to cater to different consumer preferences. This has resulted in a greater choice for consumers, with options ranging from traditional black coffee to flavored and sweetened variants. Another trend in the market is the growing popularity of cold brew coffee. Cold brew coffee is made by steeping coffee grounds in cold water for an extended period of time, resulting in a smoother and less acidic flavor profile. This trend aligns with the global shift towards healthier and more natural beverage options, as cold brew coffee is often perceived as a healthier alternative to sugary carbonated drinks.

Local special circumstances: Nicaragua is known for its high-quality coffee production, and this reputation has positively influenced the RTD coffee market in the country. Consumers in Nicaragua have a strong preference for locally sourced and produced products, and this applies to RTD coffee as well. Local coffee brands have capitalized on this preference by highlighting the use of Nicaraguan coffee beans in their RTD coffee products, which has resonated well with consumers.

Underlying macroeconomic factors: Nicaragua's growing economy and increasing disposable income levels have also contributed to the development of the RTD coffee market. As consumers have more purchasing power, they are willing to spend more on premium and convenience products, including RTD coffee. Additionally, the country's improving infrastructure and expanding retail sector have made RTD coffee more accessible to a larger consumer base. In conclusion, the Ready-to-Drink (RTD) Coffee market in Nicaragua is experiencing growth and development due to changing customer preferences, increasing availability of products, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is expected that new trends and opportunities will emerge, providing further growth potential for the RTD coffee industry in Nicaragua.

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.