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).
Market Summary:
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