According to the latest report by IMARC Group, titled “Ready to Drink Tea and Coffee Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global ready to drink tea and coffee market is expanding at a strong rate. Ready to drink (RTD) tea and coffee are packaged beverages that can be consumed immediately. They do not require mixing or brewing with other ingredients for preparation. Their demand is escalating around the world on account of the convenience offered, hectic lifestyles, increasing on-the-go culture and associated health benefits, such as aiding weight loss, lowering cholesterol levels, strengthening the immune system and reducing the risk of heart attacks. This can also be accredited to the growing awareness among individuals about the harmful impacts of consuming carbonated beverages.
Global Ready to Drink Tea and Coffee Market Trends:
The emerging café culture, growing number of quick-service restaurants (QSRs) and the burgeoning food and beverage (F&B) industry are boosting the overall sales of ready to drink (RTD) tea and coffee across the globe. Moreover, owing to the increasing health awareness among consumers, there has been a decline in the demand for juices and carbonated soft drinks that are loaded with sweeteners. Apart from this, there is an increase in the demand for natural and clean label tea and coffee around the world. Furthermore, leading manufacturers are investing in vibrant and creative packaging solutions to expand their consumer base. They are also coming up with innovative product variants that offer natural energy and target specific health conditions. On account of these factors, the market is anticipated to grow at a CAGR of around 8% during the forecast period (2019-2024).
- Based on the product, the market has been bifurcated into ready to drink tea (black, fruit and herbal based, Oolong, and green) and coffee (ginseng, vitamin B, taurine, guarana yerba mate and acai berry).
- On the basis of the additives, the market has been segmented into flavors, artificial sweeteners, acidulants, nutraceuticals, preservatives and others.
- The market has been analyzed on the basis of the packaging into a glass bottle, canned, PET bottle, aseptic and others.
- Based on the price segment, the market has been segregated into a premium, regular, popular-priced, fountain and super-premium.
- On the basis of the distribution channel, the market has been divided into off-trade (independent retailers, supermarkets and hypermarkets, convenience stores and others) and on-trade (food service and vending).
- Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has been examined, with some of the key players being Asahi Breweries Europe Limited, Keurig Dr Pepper, Inc., Starbucks Corporation, PepsiCo, Inc., The Coca-Cola Company, Ajinomoto General Foods Inc., Ting Hsin International Group, Uni-President Enterprises Corporation, Nestlé S.A., DD IP Holder LLC, Keurig Dr Pepper Inc., Hangzhou Wahaha Group Co., Ltd., Lotte Chilsung Beverage Co., Ltd., Monster Beverage Corporation, Acqua Minerale San Benedetto S.p.A., Kirin Holdings Company, Limited, Unilever, AriZona Beverages USA LLC and Suntory Holdings Limited.
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