South Korea Ready-To-Drink Coffee Market Report and Forecast 2024-2032

South Korea Ready-to-Drink Coffee Market Outlook

The South Korea ready-to-drink coffee market reached a value of about USD 1.51 billion in 2023. The industry is further anticipated to grow at a CAGR of about 5.9% in the forecast period of 2024-2032 to reach a value of around USD 2.53 billion by 2032. 

The Thriving Popularity of Ready-To-Drink Coffee Among Fitness-Conscious People and Enhanced Preference for Convenience Foods Among the Korean Population

Ready-to-drink coffee is gaining popularity among young and middle-aged working people since it is an excellent source of instant energy. Furthermore, the increased awareness regarding health and fitness has pushed more young people to participate in sports, gyms, and physical activities, thus increasing the need and demand for more Ready-to-Drink supplements and beverages. Ready-to-Drink coffee has long been promoted as a healthy pre-and post-workout beverage, with many brands using the coffee's naturally occurring antioxidant content. Cans and cartons of Ready-to-Drink coffee can be purchased in places where normal coffee drinks are unavailable, such as supermarkets and vending machines.

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The ready-to-drink coffee market is expanding rapidly due to a rapid shift in consumer preference for convenience meals combined with packaged foods. Ready-to-Drink coffee can be utilised to appeal to consumers trying to give up carbonated soft drinks in favour of healthier options. For people who don't prefer energy drinks, ready-to-drink coffee is a popular alternative to continue receiving their daily dose of liquid energy.

Market Segmentations

By packaging, the South Korea Ready-to-Drink coffee market can be segmented into:

• Bottles

• Cans

• Others

By distribution channel, the South Korea Ready-to-Drink coffee market can be divided into:

• Supermarkets/Hypermarkets

• Convenience Stores

• Speciality Stores

• Online Retail

• Others

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The Availability of Dairy-Free and Plant-Based Ready-To-Drink Coffee and improved and Convenient Packaging Augment the Ready-to-Drink Coffee Market 

As hospitality establishments were temporarily closed due to the Covid-19 outbreak, more consumers started ordering coffee online. As a result, there is a significant increase in the amount of coffee consumed at home, which helped the Ready-to-Drink coffee market expand.

Plant-based Ready-to-Drink coffee  offer a growing variety of options and flexibility to a rising number of consumers seeking opportunities to consume dairy-free coffee beverages. As a result, supermarkets and convenience stores are gradually making more room for these plant-based goods, and new brands making their way onto the market. The pressure to innovate is being increased by advancing technology, rising costs, shortened product lifecycles, and competition. The industry is shaped by the growing demand for non-GMO and organic coffee, or functional formulations boosted with all-natural tastes and nutrients.

To promote sales, most key players have improved the packaging of their Ready-to-Drink coffees. Additionally, packaging in varied quantities is made accessible for ease of use. Both glass and PET bottles are frequently used, and modern technology makes it possible for pet bottles to do more than just carry liquids. In addition to being offered in affordable sizes, these bottles help extend the shelf life and preserve the drink. 

Korean consumers demand exceptional and varied flavours from grab-and-go coffee. The single use Ready-to-Drink coffee represents a convergence of convenience and quality that appeals to Koreans' fast-paced technology-led way of life. Increasing disposable income, improving the standard of living, and demand for eco-friendly Ready-to-Drink coffee and packaging are majorly driving the market.

Physical and Mental Well-Being Benefits Offered by Ready-to-Drink Coffee and the Burgeoning Trend of Halal Certification

Ready-to-Drink coffee contains several antioxidants , promotes brain health, is anti-inflammatory, and has extra probiotics or/and protein. Regular coffee drinking is associated with happier, more pleasant emotions like friendliness, affection, and friendship. Additionally, some research suggests that women who regularly drink coffee have a lower risk of depression. Chlorogenic acid, a crucial plant-based antioxidant found in coffee helps to reduce inflammation and lower blood pressure.

Athletes tend to perform better when drinking coffee because it decreases their pain threshold and enables them to exercise more intensely and quickly. It has also been demonstrated to increase endurance and lessen muscle soreness.

Celebrity influence also bolsters the market of Ready-to-Drink coffee in the country. BTS collaborated with USA Barista champion Charles Babinsky and launched three flavours of the ready-to-drink premium 'BTS Hy' coffee. Big brands are also trying to get halal certification to reach out to more people. 'BTS Hy Cold Brew' got halal certification from the Korea Muslim Federation (KMF) . Food prepared and processed in line with Islamic law is given the designation ‘halal’. The coffee packaging featuring BTS gained attention from both Korean and international markets.

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Key Players in the South Korea Ready-To-Drink Coffee Market

The report gives a detailed analysis of the following key players in the South Korean ready-to-drink coffee market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Nestle SA

• Dongsuh Companies Inc.

• Lotte Chilsung Beverage Co.Ltd

• Namyang Dairy Products CO.LTD

• Maeil Co.Ltd

• Others

The comprehensive EMR report provides an in-depth assessment of the South Korea Ready-to-Drink coffee market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report