RTD Tea Market: Overview
Ready-to-drink tea and coffee are subcategories of soft drinks, but they differ in function with proven health benefits. The market for Ready to Drink tea and Ready to Drink coffee is expanding at a rapid pace. To serve a diverse consumer base spread across geographies, various types of RTD tea and RTD coffee products are introduced into the market. Young adults and health-conscious consumers are being targeted for future growth. To make them more functional, various nutraceutical ingredients are being added. Asia-Pacific has the largest market share, while North America has the fastest growing Ready to Drink tea and Ready to Drink coffee markets.
Increasing socialisation and social gatherings among people of various ages, particularly millennials, has increased the demand and need for easily accessible and portable beverages such as ready-to-drink coffee. Furthermore, these RTD teas are available in a variety of packaging, which primarily includes bottles, cans, and tetra packs in a variety of volumes and pack sizes, thus catering to the needs and purposes of various consumers.
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Another factor driving the market is the easy availability of these RTD teas through various mediums. Several large and well-known coffee manufacturing and beverage brands are now offering a variety of ready-to-drink coffee products in various countries, which are easily accessible in supermarkets, retail stores, specialty stores, and grocery stores. Various online platforms are the most important and in demand in recent times.
Demand:
According to research, the global tea market will grow in the near future. Different market competitors offer the tea package in a variety of flavours. Several companies offer tea bags (dip bags), which are popular in many developed countries. Consumer awareness and knowledge of the health benefits of global tea are encouraging consumers to focus on living a healthy lifestyle, which is a key factor driving the global ready-to-drink tea market forward. RTD also aids in weight loss, the relief of headaches and body pain, the reduction of cholesterol levels, and the prevention of heart attacks. These advantages, along with increased awareness of the importance of adopting a healthy lifestyle, are expected to propel the global market forward in the coming years. Additionally, rising disposable income, the availability of ready-to-drink tea in convenient and appealing packaging, and an increase in the number of cafés, online and offline retail stores, and food outlets are all expected to boost the ready-to-drink tea industry.
Global RTD Tea Market: Major Players
- Trade Winds
- Pokka Sapporo Food and Beverage
- PepsiCo
- JBD Group
- Ito En
- Uni-President
- Amul
- Xing Tea
- Unilever
- Marley’s Mellow Mood
- Sweet Leaf Tea
- Dr Pepper Snapple
- Ting Hsin
- Haelssen & Lyon
- Tai Sun
- Kirin Beverage
- Tan Hiep Phat
- Arizona
- Hangzhou Wahaha
- Argo Tea
- HeySong
- Vitalon
- F&N Foods
- Nongfu Spring
- Asahi
- Malaysia Dairy
- Suntory
- Coca-Cola
- Britvic Soft Drinks
Segmentation:
Global RTD Tea Market: Types
- Black Tea
- Green Tea
- Others
Global RTD Tea Market: Applications
- Hypermarkets and Supermarkets
- Convenience Stores
- Food and Drink Specialty Stores
- Others
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Opportunities:
The majority of the key market players are currently based in North America and Europe, giving them easy access to RTD tea consumers. Simultaneously, in developed markets, these RTD teas are marketed as premium products. Given the high demand for premium products in developed economies, the RTD tea market is likely to gain traction in these countries.
Among other regions, the Middle East and Africa, followed by Asia Pacific Excluding Japan, are expected to exhibit high growth rates in the RTD tea market. The growing gym culture and trend for health and wellness in these regions’ developing countries is positively affecting gym accessories as well as protein-packed food and beverage products. Increased middle-class population and increased awareness of premium products are driving market growth in the respective regions.
Frequently Asked Questions:
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