Overview
The global RTD tea market is estimated to grow significantly at a CAGR of 5.7% during 2019 to 2024, says a report published by expert market analysts. The report further reveals that the RTD market was accounted to have the value of US$21.30 billion in 2018 and is expected to grow further during the forecast period. Due to the hectic working hours of shoppers, the RTD tea market is primarily driven by the increasing demand for quality and nutritious ingredients. In addition, ready-to-drink tea is now becoming popular with young people and also the middle-aged workforce, being such an amazing resource of quick energy.
Market Segmentation
The global RTD teas market has been segmented into different categories based on product type, product categories, packaging type, distribution channels, and regions. On the basis of product type, the global RTD tea market has been segmented into white tea, green tea, black tea, and others. To increase the sales volume of their goods and services, the packaging of all RTD tea by almost all major companies is made attractive. Based on packaging type, the market is further segmented into bottles, cartons, and cans. On the basis of category, the market is segmented into organic and conventional category type. Ready-to-drink tea distribution channels are spread to many conventional outlets, such as hypermarkets, supermarkets, specialist shops, grocery stores, convenience stores, etc. The distribution channel segment analysis also covers non-store based channels.
Regional Overview
It is anticipated that the rise in consumer spending, convenience, and accessibility through supermarket purchases will pave a solid path for RTD tea producers to penetrate, especially in the developing countries, in which large numbers of these supermarkets are set up. The report covers key market regions spread across the world. Among the four major regional market segments are Asia-Pacific (Japan, China, New Zealand and Australia, India, and others), North America (Canada, Mexico, U.S.), the rest of the world (South America, Middle East, and Africa), Europe (France, Germany, Spain, Italy, U.K., and others).
In addition, the RTD Tea Market Analysis is expected to have a positive start with the decreasing trend for carbonated beverages, many types of sugary drinks rallying to the industry, as well as several tea choices joining the beverage segment. According to the report, North America will dominate the global RTD tea market during the forecast period and APAC region will register highest CAGR. With that being said, the rising disposable income in developed countries is yet another factor driving the rate of economic growth of North America's RTD tea market.
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Competitive Landscape
The big trend affecting a large portion of the global population is healthy eating. RTD tea is also one of the healthy beverages with amazing health benefits. In order to satisfy the large customer base distributed globally, various forms of RTD tea are introduced to the market. The calorie-conscious customer and the obese population are seeking in their beverages for substitutes to replace sugar, that is increasing the level of demand for healthier products enriched with antioxidants. The global RTD tea market research report offers a thorough analysis of the competitive environment, a summary and a comparative study of the revenue, size, strategies, mergers and acquisitions, and key market strategies, along with complete profiles of leading companies present in the RTD tea markets across different regions.
Industry News
Shaka Tea, a Hawaii based beverage company, has completed its first funding stage, bringing investment from 3 backers who've also decided to join the strategic operations team. The business has exclusivity with Hawaii's local plant grower in the RTD segment and is guiding initiatives to raise Hawaii's share of mamaki farmers.
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