PUBLISHER: DataM Intelligence | PRODUCT CODE: 1297836
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1297836
The Global Ready-to-Drink Tea market reached US$ 54.3 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 87.8 billion by 2030. The market is expected to exhibit a CAGR of 6.2% during the forecast period 2023-2030.
Ready-to-drink tea is a popular beverage category that includes a variety of Tea-based beverages with different Tea flavor profiles. Sweetened and unsweetened tea are two common options catering to diverse consumer preferences. These Tea-based beverages offer a convenient and refreshing way to enjoy the unique flavors of tea on the go.
The ready-to-drink tea market has been experiencing robust growth in recent years. The increasing consumer demand for convenient and healthier beverage options has been a key driver of this growth. The market has witnessed various product innovations, including different tea flavors, functional ingredients, and varied packaging formats. As consumer awareness of the health benefits associated with tea consumption continues to rise, the ready-to-drink tea market is expected to maintain its upward trajectory.
According to the ready-to-drink tea market analysis, one key driver is the increasing consumer interest in tea brewing methods. Consumers are exploring different ways to brew and enjoy tea, such as cold brewing and using specialized brewing equipment. This trend has contributed to the growth of ready-to-drink teas offering convenient and ready-to-consume options.
The ready-to-drink tea trend indicates a growing demand for ready-to-drink teas that incorporate unique brewing methods. Cold brew teas, for example, have gained popularity with a growth rate of over 50% in recent years. This brewing method produces a smoother and less bitter flavor profile, appealing to consumers seeking a refreshing and milder tea experience.
The ready-to-drink tea segment holds a significant portion of the overall tea market, with a share of approximately 40%. This highlights the strong consumer preference for convenient and ready-to-consume tea beverages.
According to the ready-to-drink tea market analysis, one major restraint in the ready-to-drink tea market is the increasing concern over sugar content and artificial additives in these beverages. As consumers become more health conscious, they actively seek beverages with lower sugar levels and cleaner ingredient profiles. Ready-to-Drink Teas often contain added sugars or sweeteners to enhance the flavor, which may deter health-conscious consumers from purchasing these products.
A survey revealed that 65% of consumers actively look for beverages with reduced sugar levels, while 72% prefer products with natural ingredients. This trend is particularly prominent among the younger demographic, with 85% of millennials and Gen Z expressing a preference for healthier beverage options.
Moreover, the presence of artificial additives and preservatives can also be a deterrent for those seeking natural and wholesome beverage options. To address this restraint, ready-to-drink tea brands must offer healthier alternatives with reduced sugar content, natural sweeteners, and clean-label formulations. Addressing these concerns can attract a larger segment of health-conscious consumers and enhance their market position in the ready-to-drink tea industry.
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
The Global Ready-to-Drink Tea Market is segmented based on type, category, distribution channel, and region.
The distribution channel of the ready-to-drink tea market comprises various channels that help reach a wide consumer base. These channels include supermarkets, convenience stores, online platforms, specialty tea shops, and food service outlets. Supermarkets and convenience stores are key contributors, offering a wide range of ready-to-drink tea products from different brands.
Online platforms have grown significantly, providing convenience and access to a diverse selection of ready-to-drink teas. The market share of ready-to-drink tea is substantial, holding a significant portion of the overall beverage market. The ready-to-drink tea market trend is focused on product innovation, with brands introducing unique flavors, functional ingredients, and attractive packaging to meet consumer preferences for natural and organic options.
The Global Ready-to-Drink Tea Market is segmented by region into North America, South America, Europe, Asia-Pacific, and Middle-east & America.
The Asia Pacific ready-to-drink (RTD) tea market is witnessing significant growth, driven by various factors and the increasing popularity of tea-based beverages. Bottled tea and canned tea are among the preferred formats in the region, offering convenience and a wide range of flavors to consumers. According to the recent ready-to-drink tea market analysis, the market for RTD tea in the Asia Pacific region is projected to experience a robust growth rate of over 8% during the forecast period.
The demand for RTD tea is driven by the rising consumption of iced tea and the growing preference for cold brew tea, which is known for its smoother flavor and lower bitterness. As consumers in the Asia Pacific region embrace healthier beverage options, the market for RTD tea, particularly in the bottled and canned formats, is poised for continued growth.
The major global players include: 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.
The Global Ready-to-Drink Tea Market Report Would Provide Approximately 61 Tables, 57 Figures And 195 pages.
LIST NOT EXHAUSTIVE