The global ready to drink tea and coffee market is expected to grow at a CAGR of around 8% during 2019-2024. Ready-to-Drink (RTD) tea and coffee include packaged non-alcoholic beverages that can be consumed without any prior preparation. They are pre-made, bottled and are enriched with various extracts, acids, flavors, sweeteners, antioxidants and preservatives. For instance, RTD green tea packs are infused with catechin while those of black coffee are rich in Vitamin B, potassium and magnesium, along with various functional compounds such as polyphenols and caffeine. These beverages are gaining immense popularity owing to the convenience and health benefits offered by them.
The thriving food and beverage industry, along with rapid urbanization, is among the key factors driving the growth of the market. Owing to the increasing working population and hectic schedules, the consumption of ready-to-drink tea and coffee products has escalated. Additionally, the emerging café culture and the growing number of quick-service restaurants (QSRs), coupled with the rising health-consciousness, have significantly enhanced the preference for RTD beverages as they are considered to be a healthier alternative for carbonated drinks. Consumers, especially the youth, are opting for product variants which are rich in antioxidants, have low calories and anti-inflammatory properties, and provide an instant energy boost. Moreover, the introduction of authentic tea and coffee flavors manufactured using natural ingredients with various health benefits are impacting the product demand positively. Rising disposable incomes, aggressive promotional activities by manufacturers and the development of the online retailing market that provides a wide range of options to the consumers are expected to drive the market further.
IMARC Group’s latest report provides a deep insight into the global ready to drink tea and coffee market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the ready to drink tea and coffee market in any manner.
The report has also analyzed the competitive landscape of the market with some of the key players being Asahi Breweries, Dr Pepper Snapple Group, Starbucks, Pepsico, The Coca Cola Company, Ajinomoto General Foods Inc., Ting Hsin International Group, Uni-President Enterprises Corporation, Nestlé, Dunkin' Brands, Ferolito Vultaggio & Sons, Keurig Dr Pepper, Hangzhou Wahaha Group, Lotte Chilsung, Monster Beverage, Acqua Minerale San Benedetto, Kirin Holdings Company, Unilever, Arizona Beverage Company, Suntory, etc.
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