Celebrity - NOOR Magazine originally published at Celebrity - NOOR Magazine
CHICAGO, Oct. 18, 2023 /PRNewswire/ — According to Arizton’s latest research report, the ready-to-drink tea market is growing at a CAGR of 5.43% during 2022-2028.
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Browse in-depth TOC on “Ready to Drink Tea Market”
105 – Tables
94 – Figures
278 – Pages
Ready-To-Drink (RTD) Tea Market Report Scope
Report Attributes | Details |
Market Size (2028) | USD 47.13 Billion |
Market Size (2022) | USD 34.31 Billion |
Cagr (2022-2028) | 5.43 % |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | Tea Type, Product, Formulation, Packaging, Distribution Channel, and Geography |
Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
Market Dynamics |
|
The RTD market is an exciting industry with a rapidly changing and evolving environment. There is a rising trend of health-conscious consumers seeking healthier alternatives to sugary beverages such as soda and carbonated drinks. RTD tea, often perceived as a healthier option due to its natural ingredients and antioxidants, gained popularity among consumers across age groups. Various factors contribute to the demand for RTD teas. Increasing focus on health and wellness has significantly driven the demand for RTD tea.
The market is highly competitive, with global and regional players vying for market share. Some prominent global players include Nestlé, The Coca-Cola Company, PepsiCo, and Suntory Holdings, while regional players also held a substantial market presence in their respective areas. Key players in the industry invested heavily in marketing and branding efforts to differentiate their products and attract consumers. Celebrity endorsements and health-related marketing campaigns are common strategies employed by various brands. They consider differentiation as a crucial factor for success in the beverage industry. Vendor strategies involve creating visually appealing and unique brands and products that stand out from competitors on store shelves.
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Rising Demand for Premiumization Shapes the RTD Tea Market, Emphasizing Quality and Wellness
Premiumization refers to the growing consumer preference for high-quality, premium, and upscale offerings within the RTD tea category. Consumers are willing to pay a premium price for RTD teas that offer superior taste, unique flavors, innovative blends, and perceived health and wellness benefits. Consumers seek beverages that align with their wellness goals as they become more health-conscious. Premium RTD teas often use natural and functional ingredients like antioxidants, herbal extracts, and other beneficial components, which attract health-conscious consumers.
Premium RTD tea brands focus on providing a diverse range of flavors and taste profiles, appealing to consumers with different preferences. These offerings may include exotic fruit infusions, unique herbal blends, and sophisticated tea varieties. Many premium RTD tea brands prioritize ethical sourcing and sustainable practices, such as using organic tea leaves and eco-friendly packaging. This resonates with consumers who value social and environmental responsibility. These premium teas often come in aesthetically pleasing and well-designed packaging, conveying a sense of luxury and sophistication. Eye-catching packaging influences purchasing decisions and attracts consumers.
Demand Insights
- Growing health consciousness among consumers is a crucial factor driving demand in the RTD tea market. Consumers were seeking healthier beverage options along with RTD tea, especially green tea and herbal variants, which are natural and more nutritious than sugary drinks.
- Consumers’ busy and on-the-go lifestyles led to increased demand for convenient beverages. RTD tea’s RTD format provides a portable and easy-to-consume option for consumers who want a refreshing drink without the need for brewing or steeping tea.
- Manufacturers continuously innovate and introduce new and exciting flavors to cater to diverse consumer preferences. Flavored RTD teas, such as fruit-infused variants and unique herbal blends, attracted consumers looking for novel taste experiences.
- The globalization of tea culture and the increasing popularity of Asian tea traditions in other regions, such as matcha and bubble tea, contribute to the growing demand for RTD tea products.
- The RTD tea market is experiencing growth in traditional tea-drinking regions like Asia and North America, Europe, and other parts of the world, indicating a global demand for RTD tea.
Offline Distribution Channels Flourish While Online Channels Experience Rapid Expansion
Offline distribution channels remain essential in the RTD tea market, allowing consumers to physically see and interact with products before purchasing. They also enable RTD tea brands to establish strong partnerships with retailers and ensure their products have comprehensive visibility across different locations. Manufacturers often adopt a multi-channel distribution strategy, leveraging online and offline channels to maximize their market reach and cater to diverse consumer preferences.
The online distribution channel plays a significant role in the RTD tea market, especially as e-commerce grows in popularity worldwide. Online distribution provides several benefits for consumers and manufacturers, allowing for a broader reach and more convenient access to RTD tea products. Online marketplaces and e-commerce platforms, such as Amazon, Alibaba, eBay, and various regional platforms, offer a wide selection of RTD tea products from different brands and manufacturers. Consumers can easily browse and purchase their favorite RTD teas from the comfort of their homes.
Ready-to-Drink Tea Market Dynamics:
Drivers
Millennials and Gen Z Propelling Market Growth
Increasing Preference for Natural and Organic Tea Products
Shift Toward Packaged F&B Products
Restraints
High Competition Among Vendors
Regulations Regarding Labeling & Packaging
High Availability of Substitutes
Opportunities
Rising Demand for Premiumization
Increasing Health Concerns & Awareness
Innovation in Flavors
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Key Company Profiles
- Coca-Cola HBC
- Nestlé
- PepsiCo
- Monster Beverage Corporation
- SUNTORY HOLDINGS
- Nongfu Spring
- AriZona Beverages USA
- Argo Tea
- Asahi Beverages
- HEY SONG
- ITO EN
- Keurig Dr Pepper
- Milo’s Tea Company
- POKKA CORPORATION
- Starbucks Coffee Company
- Taisun Enterprise
- Tan Hiep Phat Beverage Group
- The Republic Of Tea
- Uni-President Enterprises Corporation
- VITALON FOODS COMPANY
Market Segmentation
Tea Type
- Black Tea
- Green Tea
- Oolong Tea
- Other
Product
Variety
Formulation
- Non-Carbonated (Still)
- Carbonated (Sparkling)
Packaging
Distribution Channel
Geography
- North America
- Europe
- The UK
- Germany
- France
- Italy
- Spain
- APAC
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Middle East & Africa
- The UAE
- Saudi Arabia
- South Africa
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Key Questions Answered in the Report:
How big is the ready-to-drink (RTD) tea market?
What is the growth rate of the global ready-to-drink (RTD) tea market?
Which region dominates the global ready-to-drink (RTD) tea market share?
What are the significant trends in the ready-to-drink (RTD) tea market?
Who are the key players in the global ready-to-drink (RTD) tea market?
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SOURCE Arizton Advisory & Intelligence
Originally published at https://www.prnewswire.com/news-releases/ready-to-drink-tea-market-brewing-a-strong-global-presence-the-market-is-set-to-reach-47-13-billion-by-2028—arizton-301960406.html
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Celebrity - NOOR Magazine originally published at Celebrity - NOOR Magazine
