Market Research Report
Global Iced/RTD Tea Drinks 2019 - Key Insights and Drivers Behind the Iced/RTD Tea Drinks Market Performance
|Published by||GlobalData||Product code||939349|
|Published||Content info||97 Pages
Delivery time: 1-2 business days
|Global Iced/RTD Tea Drinks 2019 - Key Insights and Drivers Behind the Iced/RTD Tea Drinks Market Performance|
|Published: December 30, 2019||Content info: 97 Pages||
Consumption of iced/RTD tea drinks grew slightly, with Asia continuing to be the market leader. Product innovations and a rise in convenient sub-channels, home delivery, and e-commerce aided the growth. The largest growth by region for the beverage came from Australasia, where iced/RTD is a small, but increasing share. One of the key drivers of growth in the region was consumers switching to the beverage as a healthier alternative to carbonates. Increases also came from the popularity of kombucha and other innovative products and flavors.
However, where consumers of other regions are choosing iced/RTD tea as a healthier alternative to carbonates, Latin American consumers are shifting towards flavored water. In countries such as Mexico and Colombia, there has been a negative image surrounding iced/RTD tea drinks due to the product's high sugar levels.
Value growth outpaced volume during the review period, suggesting a slight movement towards premiumization within the category. This was partially due to the launch of Coca-Cola's Fuze Tea brand across Western markets. The inclusion of on-trend flavor profiles - such as cucumber and mint - has allowed the brand to successfully price itself above incumbent companies. Asia held the most sales, with a large amount coming from China. Sales were driven by consumers seeking convenient, RTD beverages that were available in innovative flavors.
Plain tea remained the leading flavor, taking almost half of the share of volume sales, followed by lemon. However, lemon lost a slight amount of its share as more innovative flavors were released. In Asia, grapefruit experienced a strong growth, whereas Eastern Europe saw significant increases from flavors such as mango. As consumers around the globe become more health conscious, low calorie options experienced a larger increase than regular calorie options. Asia, Eastern Europe, Middle East & North Africa, and Western Europe all had a significant step-up in low calorie sales. A large amount of product innovations focusing on using unusual flavors and ingredients with perceived health benefits also helped to aid the growth of sales.
Despite global concerns over the negative effects of plastic on the environment, PET grew stronger as the packaging leader. The material increased its share of sales in all regions apart from Australasia, as consumers chose convenience. However, in regards to volume consumption sales, the material declined in Africa and Latin America. The material's popularity comes from bottles that can be used to consume beverages on the go, and aid consumers' increasingly hectic and busy lifestyles. This is in-line with the fact that 50cl takes the majority of the sales from PET bottles.
The report "Global Iced RTD Tea Drinks Report 2019" acts as an essential tool for companies active or planning to venture in to Global Iced RTD Tea (Soft drinks) market. The comprehensive statistics within the research handbook provides insight into the operating environment of the market and also ensures right business decision making based on emerging trends and industry model based forecasting.
GlobalData considers Iced RTD Tea Drinks as carbonated and non-carbonated ready to drink (rtd) packaged tea- based drinks and non-ready to drink (non-rtd) powders and liquid concentrates which dilute with water to make a product similar/identical to the ready to drink product.
Global Iced RTD Tea Drinks Report 2019 report covers over 8 global regions comprising of Africa, Asia, Australasia, Easter Europe, Western Europe, Latin America, North America and Middle East and North Africa, provides -