Report Ocean has recently published a new report on the global ready-to-drink (RTD) tea market, titled “Ready-to-drink (RTD) Tea Market by Type (Green Tea, Black Tea, and Others), Category (Organic and Conventional), and Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Stores, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027.”
According to the study, the global RTD tea market stood at US$29.66 bn in 2019. Proliferating at a CAGR of 5.50% during the period from 2020 to 2027, the global market is anticipated to reach US$9.29 bn by the end of the forecast period.
The increasing preference for healthy beverages among consumers is fueling the demand for RTD tea across the world. Its popularity as a healthy replacement of aerated drinks is expected to add to the growth of the worldwide RTD tea market over the next few years. Manufacturers are also focusing aggressively on tapping on this popularity by constantly introducing new flavors of RTD tea, leading to a tremendous rise in the market. In addition, key players are utilizing social media for advertisement, which has multi-folded the area of reach. All these are expected to support the growth of this market in the long run.
Impact of Covid 19 on Global Ready-to-Drink Tea Market
The impact of the Coronavirus pandemic has been quite challenging for the tea industry and markets under its umbrella, including the global RTD tea market. The market has to made considerable adjustments in response to the crisis of pandemic, which has caused supply chain issues due to restrictions on transportation of logistics. However, with the easing of restrictions, the market has begun to gain momentum again.
Demand for Green to Increase Substantially
The study analyzes the global RTD tea market on the basis of the type, category, distribution channel, and the region. Based on the type, the market has been categorized into green tea, black tea, and others. In terms of market share, black tea has acquired the leadership. However, the demand for green tea is rapidly rising across the world. Depending on category, the market has been classified into organic and conventional. Currently, conventional tea reports a higher consumption. However, with the increasing preference for organic and natural products among consumers, the demand for organic tea is expected to rise in the years to come.
On the basis of the distribution channel, the market has been segmented into supermarkets/hypermarkets, specialty stores, online stores, and other stores. Regionally, North America, Europe, Asia Pacific, and LAMEA have emerged as the key regional markets for ready-to-drink tea across the world, states the report.
The key players in the global RTD tea market profiled in this report are Suntory Holdings, Nestle S.A, Unilever NV, The Coca Cola Company, Starbucks Corporation, The Republic of Tea, Tata Global Beverages, Danone S.A., Snapple Beverage Corp.( Keurig Dr Pepper), and Harney & Sons Fine Teas.
- In terms of market share, black tea has acquired the leadership. However, the demand for green tea is rapidly rising across the world.
- Currently, conventional tea reports a higher consumption.
The global ready-to-drink tea market is segmented into:
- Green Tea
- Black tea
By Distribution Channel
- Specialty Stores
- Online stores
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Companies Mentioned in the Report
- Suntory Holdings
- Nestle S.A
- Unilever NV
- The Coca Cola Company
- Starbucks Corporation
- The Republic of Tea
- Tata Global Beverages
- Danone S.A.
- Snapple Beverage Corp. (Keurig Dr Pepper)
- Harney & Sons Fine Teas
Company Name: Report Ocean
Contact Person: Nishi Sharma
Email: Send Email
Address:BSI Business Park,H-15, Sector-63, Noida
State: UP, 201301