The ready-to-drink (RTD) tea market is expected to reach a value of US$33.0 billion in 2022. According to Future Market Insights (IMF), the overall market value is expected to reach US$70.5 billion by 2032, rising at a CAGR of 7.9% for 2022-32.
Botanical flavors, which are said to provide health benefits and are clearly labeled, are expected to do well in the RTD tea market. Spices, especially ginger, are gaining popularity around the world and the consumption of flavored RTD tea is fueling the demand in the market.
While hot herbal teas have a long history of showcasing their natural health benefits, RTD teas are becoming increasingly popular. Botanicals can be tailored to meet a variety of health and wellness requirements.
Tea drinkers love it for a variety of reasons, including reducing stress, digestive health, boosting energy, and boosting immunity. Therefore, the growing need for a strong immune system has been underscored by COVID-19, pushing sales.
Due to bans in many regions, many botanical teas are unable to make unambiguous claims regarding the supposed functionality of their constituents. Botanical components (such as herbs and spices) are believed to have medicinal effects by the majority of consumers, especially across Europe.
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Key points to remember:
- In terms of product type, herbal tea and green tea segments are expected to register the highest growth during the forecast period.
- Depending on the category, the ready-to-drink flavored teas segment will account for the lion’s share in the global market.
- North America is expected to dominate the global RTD tea market, holding over 35% of the market share, followed by Europe.
- The United States, United Kingdom and China are estimated to be the most lucrative countries in the global RTD tea market, collectively holding a significant market share of over 30%.
“The therapeutic effects of tea compared to carbonated and soft drinks, as well as the convenience of RTD tea compared to regular tea, are driving the market. To cater to this trend, major players are offering different ingredients such as blending components and offering new flavors” – IMF analyst.
Some of the major companies offering RTD tea are Coca-Cola, JBD Group, Ting Hsin, Unilever, Amul, Uni-President, Arizona, Argo Tea, Britvic Soft Drinks, Dr Pepper Snapple, Asahi, Haelssen & Lyon, F&N Foods, Hangzhou Wahaha, Ito En, Kirin Beverage, HeySong, Marley’s Mellow Mood, Nongfu Spring, Malaysia Dairy, Pokka Sapporo Food and Beverage, PepsiCo, Suntory, Sweet Leaf Tea, Tai Sun, Tan Hiep Phat, Trade Winds, Vitalon, Xing Tea and others .
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Future Market Insights, in its new offering, provides an unbiased analysis of the RTD Tea market showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2032.
Market segments covered by the Ready to Drink (RTD) Tea Market
Types of products:
- Black tea
- Green tea
Sales channel :
- direct sales
- Indirect sales
- Asia (India, China, Japan)
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Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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