USD 29.63 Billion
Ready-to-drink Tea Market Size, Share, Growth Analysis, By Product Type(Black Tea, Green Tea, Herbal Tea, Oolong Tea), By Packaging Type(Bottles, Cans, Cartons, Pouches), By Distribution Channel(Supermarkets and Hypermarkets, Convenience Stores, Online Retail), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30G2041 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
93
|Figures:
76
Ready-to-drink Tea Market Insights
Global Ready-to-drink Tea Market size was valued at USD 29.63 Billion in 2022 and is poised to grow from USD 36.84 Billion in 2023 to USD 210.34 Billion by 2031, at a CAGR of 24.33% during the forecast period (2024-2031).
The global ready-to-drink tea market is experiencing significant growth globally. Our report contains detailed information on the value chain analysis for the Ready-to-drink Tea market, which manufacturers can use to gain a competitive edge during the projected period. Consumer awareness of the health risks connected with the consumption of carbonated beverages is driving a move towards ready-to-drink tea and coffee. Rapid socioeconomic growth over the previous two decades has resulted in an increase in the prevalence of various chronic health diseases such as cancer, heart disease, and diabetes. The health benefits connected with RTD tea and coffee drinking are attracting older demographics to the market. Diverse items are being introduced into the market in order to appeal to a diverse client base spanning across regions. To make them more useful, various nutraceutical substances are being added. Asia-Pacific has the highest market share, while North America is the fastest expanding. Tea that is ready to drink.
Rising consumer knowledge of the health risks associated with carbonated beverages is causing a movement towards Ready to Drink tea and Ready to Drink coffee. Another key factor is an increase in the number of health-conscious people who prefer the antioxidant properties of RTD tea. The key manufacturers' tactics for market expansion include customizing health-beneficial items for women and children. The positioning of RTD tea and Ready to Drink coffee as leisure items has been advantageous in recruiting a younger clientele. Increased disposable income in developing nations is another element driving RTD tea and Ready to Drink coffee market development.
US Ready-to-drink Tea Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Black tea
Fastest Growth
Black tea
Growth Rate
24.33% CAGR
Global Ready-To-Drink Tea Market ($ Bn)
Country Share for North America Region (%)
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Ready-to-drink Tea Market Segmental Analysis
Global ready-to-drink tea market is segmented on the basis of product type, packaging type, distribution channel and region. By product type, the market is segmented into black tea, green tea, herbal tea, oolong tea, others. By packaging type, the market is segmented into bottles, cans, cartons, pouches. By distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Ready-to-drink Tea Market Analysis By Product Type
Among the product types, black tea holds the largest market share in the ready-to-drink tea market. Black tea is known for its robust flavor and is widely consumed globally. It is a rich source of antioxidants and is often preferred for its perceived health benefits. The popularity of black tea can be attributed to its refreshing taste, versatility, and the availability of various flavors and blends. Additionally, black tea is often consumed as an alternative to coffee, further driving its demand.
Herbal tea is gaining popularity and represents a fast-growing segment within the ready-to-drink tea market. Herbal teas are infused with various herbs, flowers, and fruits, offering unique flavors and potential health benefits. These teas are often consumed for their soothing and calming effects, making them popular among individuals seeking relaxation and stress relief. The herbal tea segment includes a wide range of options such as chamomile, peppermint, ginger, hibiscus, and many more. The increasing demand for natural and organic products, coupled with the rising preference for caffeine-free beverages, has propelled the growth of the herbal tea segment.
Ready-to-drink Tea Market Analysis By Packaging Type
Bottles represent the largest segment in the ready-to-drink tea market in terms of packaging type. Bottles offer a convenient and portable packaging solution for consumers, making them ideal for on-the-go consumption. They come in various sizes and materials, such as plastic, glass, and PET, providing flexibility for both manufacturers and consumers. Bottles are widely used by key players in the market due to their durability, ease of handling, and ability to preserve the freshness and flavor of ready-to-drink tea. Moreover, the visibility of the product through transparent bottles allows consumers to assess the quality and appearance of the tea before purchase.
Pouches are witnessing significant growth in the ready-to-drink tea market, primarily due to their convenience, affordability, and ease of use. Pouches offer a lightweight and flexible packaging solution, making them suitable for on-the-go consumption. They are often used for single-serve and portion-controlled products, providing convenience to consumers who seek a quick and hassle-free tea-drinking experience. Pouches also have a lower carbon footprint compared to other packaging types, aligning with the sustainability goals of both consumers and manufacturers.
Global Ready-To-Drink Tea Market By Product Type
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Ready-to-drink Tea Market Regional Insights
North America is the largest market region in the global ready-to-drink tea market. The region has witnessed significant growth in the consumption of ready-to-drink tea due to several factors. The popularity of ready-to-drink tea in North America can be attributed to the increasing health consciousness among consumers and the preference for convenient and refreshing beverages. The region has a well-established beverage industry, with a wide range of flavors and variants available in the market. Furthermore, the demand for healthier alternatives to carbonated and sugary beverages has boosted the consumption of ready-to-drink tea in North America. The presence of key market players and their continuous efforts to introduce innovative products has also contributed to the market's growth in the region.
Asia Pacific is the fastest-growing region in the global ready-to-drink tea market. The region's rapid growth can be attributed to several factors. Asia Pacific has a large consumer base with a growing middle-class population, increasing disposable incomes, and a rising trend of urbanization. Ready-to-drink tea is gaining popularity in the region due to changing consumer preferences, increasing health awareness, and the influence of Western lifestyles. The market growth is further driven by the rich tea culture and heritage in countries like China, Japan, and India. These countries have a long-standing tradition of tea consumption and are witnessing a shift from traditional tea preparation methods to convenient ready-to-drink formats.
Global Ready-To-Drink Tea Market By Region
- Largest
- Fastest
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Ready-to-drink Tea Market Dynamics
Ready-to-drink Tea MarketDrivers
Increasing Health-Consciousness Among Consumers
- As consumers become more aware of the importance of maintaining a healthy lifestyle, there is a growing demand for beverages that offer both convenience and health benefits. Ready-to-drink tea, especially variants like green tea and herbal tea, is perceived as a healthier alternative to carbonated and sugary beverages. Ready-to-drink tea is often rich in antioxidants, polyphenols, and other bioactive compounds that are associated with various health benefits. The health-conscious trend has propelled the demand for ready-to-drink tea, as it provides consumers with a refreshing and convenient beverage option that aligns with their wellness goals.
Ready-to-drink Tea Market Restraints
Intense Competition From Other Beverage Options
- The beverage market is highly saturated, with a wide range of choices available to consumers. Ready-to-drink tea competes not only with other tea-based beverages but also with carbonated soft drinks, energy drinks, fruit juices, and other healthy beverage options. To stand out in this competitive landscape, ready-to-drink tea brands need to differentiate themselves through unique flavors, innovative packaging, and effective marketing strategies. Moreover, ready-to-drink tea companies must also address consumer concerns regarding sugar content, artificial additives, and environmental sustainability.
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Ready-to-drink Tea Market Competitive Landscape
The Global Ready-to-drink Tea Market features a highly competitive landscape with the presence of several key players. Some of the prominent players in the market focus on product innovation and quality advancements to gain a competitive edge. They invest significantly in research and development to introduce new features and functionalities in their Ready-to-drink Tea solutions. Additionally, strategic partnerships, collaborations, and acquisitions are common strategies employed by these players to expand their market presence and enhance their product portfolios. With the growing demand for Ready-to-drink Tea solutions, the competition among these players intensifies, leading to continuous advancements and improvements in the market offerings.
Ready-to-drink Tea Market Top Player’s Company Profile
- Unilever PLC (United Kingdom/Netherlands)
- Arizona Beverage Company (US)
- Tata Global Beverages Limited (India)
- Keurig Dr Pepper Inc. (US)
- Danone S.A. (France)
- Ito En, Ltd. (Japan)
- Uni-President Enterprises Corp. (Taiwan)
- Tingyi (Cayman Islands) Holding Corp. (China)
- Kirin Holdings Company, Limited (Japan)
- Monster Beverage Corporation (US)
- The Republic of Tea (US)
- Fukujuen Co., Ltd. (Japan)
- Hangzhou Wahaha Group Co., Ltd. (China)
- Arizona Beverages USA LLC (US)
- Hain Celestial Group, Inc. (US)
- Suntory Beverage & Food Limited (Japan)
- JDB Group (China)
Ready-to-drink Tea Market Recent Developments
- In May 2023, Pepsi Lipton International, a joint venture between PepsiCo and Unilever, unveiled T2 Iced, a new range of ready-to-drink iced tea.
- In March 2023, At Expo, Eat the Change expanded its line of Just Ice Tea beverages with three new flavors Mango White Tea, Original Black Tea, and Lemon Ginger Herbal Tea.
- In January 2023, The RYL Company launched Ready-to-Drink Tea Line, Touts ‘Ryl Polyphenol Technology. a wellness focused ready-to-drink (RTD) tea company – made its official debut across the Northeastern U.S. in Wegmans and select Whole Foods Market stores.
Ready-to-drink Tea Key Market Trends
- Increasing demand for natural and organic products: consumers are becoming more conscious of the ingredients and manufacturing processes involved in the products they consume. This trend is driven by a growing awareness of the potential health benefits and environmental impact of artificial additives, preservatives, and synthetic ingredients. The demand for natural and organic ready-to-drink tea is driven by consumers seeking healthier beverage options that align with their wellness goals and ethical values. This trend is particularly prominent among millennials and the younger generation, who prioritize transparency, sustainability, and natural ingredients in the products they purchase.
Ready-to-drink Tea Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, the Ready-to-drink Tea market is poised for significant growth in the coming years, driven by the increasing adoption of barcode technology across various industries for efficient inventory management and supply chain optimization. The ready-to-drink tea market is witnessing significant growth and is poised for a promising future. The market is being driven by various factors, with the increasing health consciousness among consumers being one of the primary drivers. Consumers are seeking convenient and healthier beverage options, and ready-to-drink tea fits the bill with its refreshing taste and perceived health benefits. The market is segmented based on product type, with black tea holding the largest market share due to its robust flavor and versatility, while herbal tea is the fastest-growing segment, fueled by the rising demand for natural and caffeine-free beverages. In terms of packaging type, bottles dominate the market, providing portability and freshness to the products. Looking ahead, the ready-to-drink tea market presents ample opportunities for innovation, product differentiation, and expansion. As the market continues to evolve, key players are expected to focus on introducing new flavors, incorporating natural and organic ingredients, and adopting sustainable practices. Asia Pacific is the dominating region in the market, owing to its tea culture and the presence of a large consumer base. As consumers' preferences and priorities continue to evolve, the ready-to-drink tea market is set to thrive by providing convenient, healthy, and flavorful options to meet the demands of modern consumers.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 29.63 Billion |
| Market size value in 2031 | USD 210.34 Billion |
| Growth Rate | 24.33% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ready-to-drink Tea Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ready-to-drink Tea Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ready-to-drink Tea Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ready-to-drink Tea Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ready-to-drink Tea Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ready-to-drink Tea Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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