PUBLISHER: DataM Intelligence | PRODUCT CODE: 1077312
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1077312
The global ready-to-drink tea market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).
Ready-to-drink green tea is usually flavored and sold as a ready-to-drink beverage. RTD tea comes in various flavors, including black and green tea. As the name implies, ready-to-drink green tea is a drink that is packaged in single-use containers for immediate consumption. Essentially, ready-to-drinks are now entering the health-conscious market and achieving the goal of a quick and simple drink or a convenient can of alcohol. Furthermore, because ready-to-drink tea contains antioxidants and other critical nutrients, the trend of being proactive about chronic health problems is driving up demand for ready-to-drink tea
Increased consumer knowledge of the health benefits of RTD tea is encouraging consumers to focus on living a healthy lifestyle, which is a key element driving the global ready-to-drink tea market forward. RTD also helps with weight loss, relieves headaches and body pain, lowers cholesterol levels, and lowers the risk of heart attacks. These benefits, combined with increased awareness of the need to adopt a healthy lifestyle, are projected to propel the global market forward in the next years. Furthermore, an increase in disposable income, the availability of ready-to-drink tea in handy and attractive packaging, and an expansion in cafes, online and offline retail stores, and food outlets are all expected to boost the ready-to-drink tea industry.
Furthermore, the growing demand for low-sugar beverages has influenced customers to switch from carbonated to non-carbonated beverages, boosting the market for ready-to-drink tea. Manufacturers from all over the world, including Europe and North America, have produced low-sugar herbal drinks to boost their brand image and product promotion. Over the projection period, demand for herbal extracts such as ginseng, matcha, and hibiscus in ready-to-drink iced tea with added cleansing capabilities has also pushed upmarket revenues in the total ready-to-drink tea market. Premiumization in the European and American markets drive consumers to spend more on healthy and natural products, resulting in increased market sales in the overall ready-to-drink tea market over the projection period.
Due to an increase in the number of tea drinkers worldwide, the black tea category accounted for the largest ready-to-drink tea market share in 2021 and is expected to continue dominant throughout the ready-to-drink tea market prediction period. Furthermore, black tea's high concentration of antioxidants and polyphenols makes it popular among health-conscious consumers, propelling the segment's growth. Furthermore, it aids in treating headaches and cancer and regulating blood pressure, boosting demand internationally and propelling the market forward.
Due to increased benefits such as discounts and availability of optimal options for cosmetics products, the supermarkets/hypermarkets category held a considerable part of the distribution channel market in 2021. Furthermore, the convenience of these retail formats as a one-stop-shop makes them a popular shopping alternative for consumers. Additionally, these retail formats provide clients with a diverse choice of items at a low price. They are typically positioned in easily accessible places. Expansion of the product portfolio and introduction of new flavors, on the other hand, are expected to provide lucrative chances for the worldwide RTD tea market to grow over the forecast period.
In 2021, North America dominated the market, accounting for the largest share. The ready-to-drink tea market in North America is mature and homogeneous, with high penetration, and is dominated by major firms, including Coco-Cola Company, Nestle, and Unilever. Furthermore, a movement in consumer preferences toward healthy alternatives to caffeinated beverages, such as tea and coffee is likely to drive expansion in the ready-to-drink tea market. Companies are acquiring big and local players to increase their RTD tea product selection in the region to meet rising customer demand. Furthermore, due to increased demand for these products, Canada and the United States are driving the RTD tea and coffee business expansion in North America. The entire sector in the United States is expanding as the country's health awareness grows.
In some parts of the world, ready-to-drink tea is thought to be advantageous to one's health, notably in Asian countries, contributing to the industry's rapid expansion. The global ready-to-drink tea market is predicted to increase at a healthy rate throughout the forecast period, with the Asia Pacific leading the way in terms of consumption.
Suntory Holdings, Nestle S.A., Unilever NV, The Coca-Cola Company, Starbucks Corporation, The Republic of Tea, Tata Global Beverages, Danone S.A., Snapple Beverage Corp., and Harney & Sons Fine Teas are among the important players highlighted in this market. Manufacturers are concentrating their efforts on major developments that meet the needs of a big consumer base. Because ready-to-drink tea products are now seen as healthier alternatives to carbonated beverages, demand for these goods is likely to skyrocket. As a result, demand for various ready-to-drink tea has surged in emerging countries. Furthermore, the number of netizens has risen in tandem with internet penetration. Considering this, the majority of the market's major players plan to promote their products across numerous social media channels. As a result of its social media marketing strategy, the ready-to-drink tea industry sees a lucrative growth opportunity throughout the projection period.
Positive impact on the global ready-to drink tea market.
The repercussions of the COVID-19 pandemic have made the tea industry even more difficult. In response to the pandemic issue, the sector has made significant adjustments, and the government has taken several actions to alleviate the industry's challenges. This transition has produced supply chain bottlenecks because of the logistics and lower unit packaging requirements of retail establishments. Furthermore, the stoppage of tea production and processing due to global lockdown and social isolation has harmed the industry's growth. On the other hand, the ready-to-drink tea market has not seen a significant drop in demand, as it has remained relatively stable since the viral breakout as a daily consumable item. Once the pandemic is gone, this mismatch in product availability and demand is projected to help the RTD tea market recover quickly. Restaurants, cafes, tea micro-roasters, and other out-of-home outlets have all been harmed by measures such as social separation and lockdowns. Nonetheless, the present trend toward online purchase for consumption at home is forcing retailers, roasters, and consumers to adjust to this new reality. As a result, this factor boosts the global consumption of RTD coffee and tea. As a result, demand for RTD tea and coffee increased in 2020, resulting in increased RTD tea and coffee retail sales.
The global ready-to-drink tea market report would provide an access to approximately 65 market data tables, 55 figures and 195 pages.