Coca-Cola's Costa Coffee launches RTD beverage in the UK
After Coca-Cola bought Costa Coffee for $5.1 billion last year, it was expected that given Coke's expertise, the next move for the brand would be to expand Costa's ready-to-drink coffee across markets globally.
Now, almost a year later, that prediction is true.
The new line of canned coffee is spreading across Europe, and while the company hasn't yet committed to bringing the product stateside, there's potential for it in the U.S. market.
More companies have been moving into the coffee category because it is trendy and a money maker for brands.
Not only do Americans continue to rely on java for an early morning jolt, but companies have found that it is a lucrative market to get into as consumers increasingly search for more premium options.
Gourmet coffee now represents half of all consumption for the first time in history, according to research from the National Coffee Association.
美国国家咖啡协会(National coffee Association)的研究显示，极品咖啡有史以来首次占到总消费量的一半。
By choosing to enter the ready-to-drink category, Coca-Cola is combining its enormous global distribution system with the growing popularity of on-the-go gourmet coffee.
Consumers crave convenience and this easy, on-the-go canned coffee line could satisfy that. Mordor Intelligence reports that in 2018, the North American RTD coffee industry was valued at $2.5 billion and is expected to grow at a CAGR of 2.7% to about $2.65 billion by 2023.
However, this growth has come with fragmentation.
With demand for single-serve, ready-to-drink, premium and a whole host of other experimental coffees like butter coffee, probiotic and protein-infused CPG coffee products, growth in this industry is difficult to tap into.
More brands are launching ready-to-drink coffee, so Costa will have a fair share of competition. Nestlé purchased Starbucks' retail products for $7.15 billion last May, which offers a variety of different RTD coffee beverages.
And previously, Nestlé acquired Chameleon Cold-Brew and a majority stake in Blue Bottle Coffee. But it's not only Big Food taking advantage of this trend. More startups are also launching these ready-to-drink products.
Data from CB Insights shows that coffee startups were on pace to raise more than $1 billion by the end of 2018.
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There may be certain times of day when smokers crave their cigarette.
to crave for sth. 渴望得到某物