Demand for ready to drink beverages has witnessed tremendous growth in the recent past years. This is attributable to its wider availability and extraordinary range of choices being offered in the respective category. One such type of ready to drink beverage is tea. Consumption of ready to drink tea is rapidly increasing among consumers across the globe primarily attributable to its rising popularity and acceptance in comparison to the carbonated soft drinks. Ready to drink tea is considered to be health beneficial in certain parts of the world particularly in Asian countries which are contributing towards its accelerating market growth. Ready to drink tea is known to improve digestion and deliver instant energy. The global ready-to-drink tea market is expected to witness attractive growth over the forecast period with its consumption higher in the Asia Pacific region.
Ready-to-drink Tea Market Segmentation
Global ready-to-drink tea market is segmented on the basis of nature, product type, price range, packaging, flavor, sales channel, and region. On the basis of nature, the global ready-to-drink tea market is segmented into, natural/herbal, conventional and organic. Increasing demand for natural food products has contributed towards increasing market revenues of the natural/herbal segment. On the basis of product type the global ready-to-drink tea market is segmented into, iced tea, green tea and black tea. Rising health-conscious consumers and demand for clean label food products is expected to help fuel the consumption of green tea across the globe. On the basis of the price range, the global ready to drink tea market is segmented into, economical, mid-range and premium ready to drink tea segments. Rising consumer group belonging to the middle-income group is expected to fuel the market growth of mid-range segment in the near future. By packaging the global ready-to-drink tea market is segmented into, bottles, cans, carton packaging and others segment. On the basis of flavor the global ready-to-drink tea market is segmented into, fruit flavor, lemon flavor, spice flavor, herbal flavor and others flavors. On the basis of sales channel, the global ready-to-drink tea market is segmented into, the store-based retailing and e-commerce. Store-based retailing can be further segmented into, modern grocery retailers and traditional grocery retailers. Modern grocery retailers can be further sub-segmented into, hypermarkets/supermarkets, convenience stores, discounters and others while the traditional grocery retailers segment can be sub-segmented into, food and drink specialist stores, independent small groceries, and other grocery retailers.
On the basis of the region, the global ready-to-drink tea market is segmented into, North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Ready to drink beverages are the convenient and healthy alternative to a number of ready to drink beverages available in the market. Demand for non-sugary flavored ready to drink tea is expected to contribute towards the market growth of ready to drink tea market across the European and North America market in the near future. Manufacturers of ready to drink tea are launching products with additional claims such as tension relieving claims, easier digestion, and clean label in order to attract more and more consumers. Also, countries such as China, Australia and New Zealand, Africa are also embracing the unique flavors ready to drink teas and are incorporating into their daily diet.
Ready-to-drink Tea Market Global Market Trends and Market Drivers:
The global market for ready-to-drink tea is estimated to witness significant growth in the near future. Growing demand for low sugar drinks has contributed towards consumers shift from carbonated drinks towards non-carbonated drinks thus helping fuel the market for ready to drink tea in the near future. Manufacturers across regions include Europe and North America have launched low sugary herbal drinks in order to promote their brand image and marketing of their products. Demand for herbal extracts in ready-to-drink iced tea such as ginseng, matcha, and hibiscus with additional properties of cleansing has also pushed towards the escalating market revenues in the overall ready to drink tea market over the forecast period. Premiumisation trend in European and U.S. market is pushing consumers to spend on products that are healthy and natural thus further escalating the market revenues in the overall ready to drink tea market during the forecast period.
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Ready-to-drink Tea Market Key Players:
Variety of ready-to-drink teas has been introduced by the manufacturers and some of the global market players manufacturing ready-to-drink tea market include, Talking Rain, THE COCA-COLA COMPANY, PepsiCo Inc., Unilever, Jade Monk, Zhejiang Tea Group, Ltd., Healthy Beverage, LLC, ADM WILD Europe GmbH & Co.KG and others.