Ready To Drink (RTD) Tea Coffee Market

Ready To Drink (RTD) Tea Coffee Market

Market Synopsis:

Global Ready To Drink (RTD) Tea Coffee Market is valued at USD 91248.87 Million in 2022 and is projected to reach a value of USD 135846.73 Million by 2030 at a CAGR of 5.10% over the forecast period. Ready To Drink (RTD) Tea Coffee are gaining popularity among individuals owing to the numerous benefits associated with their consumption like the presence of low calories, antioxidant properties, and is also an instant energy source that is expected to increase the demand for Ready To Drink (RTD) Tea Coffee in upcoming years. Ready to drink (RTD) tea is primarily considered a vital health drink whereas RTD coffee is considered a source of providing instantaneous energy. Consumers are more conscious towards their healthy drinks and diet nowadays due to the rise in diseases globally such as obesity and diabetes and ready to drink tea and coffee is safe to consume and is a sub-group of soft drinks with proven health benefits which are expected to drive the growth of ready to drink tea coffee market in coming years. Ready To Drink (RTD) Tea Coffee market are expected to witness higher growth owing to the busy and fast-paced lifestyle of the consumers globally, as it is an alternative for carbonated drinks. Additionally, the growing culture of coffee serving ready-to-drink tea and coffee is presumed to fuel the growth of the RTD tea coffee market during the forecast period. Aligning RTD tea and RTD coffee market as a recreational product has proved helpful in attracting the young population which is increasing the demand for Ready To Drink (RTD) Tea Coffee during the forecast period. Different types of RTD tea and RTD coffee products are launching in the market every day in order to serve the wide consumer base which is spread worldwide and various nutraceutical ingredients are being combined to make them more functional which is predicted to increase its demand during the forecast period.

Market Segmentation:

Ready to drink (RTD) Tea Coffee Market is segmented on the basis of additives, types, packaging, price segment, and distribution channel. Based on additives the market is segmented as Flavors, Artificial sweeteners, Acidulants, Nutraceuticals, Preservatives, and others. On the basis of types, the market is segmented as Ready to drink tea, and Ready to drink coffee. On the basis of packaging the market is segmented as glass bottle, Canned, Pet bottle, Fountain/Aseptic, and others. On the basis of price segment, the market is segmented as Premium, Regular, Popular priced Fountain and Super premium. Based on the distribution channel the market is segmented as Off-trade, independent retailers, Supermarkets/Hypermarkets, Convenience stores, others, on-trade, Foodservice, and Vending.

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The ready to drink tea segment is expected to hold the largest market share during the forecast period

On the basis of type, the ready-to-drink segment acquires the largest market share during the forecast period owing to the growth in the number of tea drinkers special black tea, across the globe. Besides, a high concentration of polyphenols and antioxidants makes black tea more popular among health-conscious individuals which further drives the growth of the tea segment in the ready-to-drink tea coffee market. Additionally, it also helps in healing headaches and cancer as well as helps in regulating blood pressure, which boosts the demand of ready to drink tea segment globally and further drives the growth of ready to drink tea coffee market in coming years.

The supermarkets/hypermarkets segment holds the largest market share during the forecast period

On the basis of distribution channels, the supermarkets/hypermarkets segment holds a substantial share of the ready-to-drink tea coffee market during the forecast period. The growth of the supermarkets/hypermarkets is primarily attributed to an increase in advantages offered by it such as the availability of optimum options and discounts on cosmetics products. Additionally, the one-stop solution provided by the retail sector makes supermarket/hypermarkets a popular option for shopping purposes for consumers. These retail formats provide a wide range of products at an inexpensive price to the consumers and are located at an easily reachable range/location which is expected to drive the growth of ready to drink tea coffee market in coming years.

Asia Pacific is projected to grow at the highest CAGR during the forecast period

The Asia Pacific region is estimated to grow at the highest CAGR during the forecast period owing to the increasing demand for ready to drink products due to the rising health awareness among the individuals and the booming landscape of retail food chains in the region specifically in the countries such as India, China, and Japan. Another key factor enhancing the growth of ready to drink tea coffee industry is a large number of coffee and tea plantations, and the increasing production of tea in numerous countries in the Asia Pacific region. Growth in the government initiative of the government for tea and coffee is enhancing the growth of ready to drink tea and coffee market in the coming years.

Competitive Landscape:

The major players in ready to drink tea coffee market are adopting business expansion and new product launches for their key development of strategies in order to enhance their market share, rise profitability, and to remain competitive in the market. Major key players in the market are Starbucks Corporation, Asahi Group Holdings Ltd., The Coca-Cola Company, Pepsico Inc., Monster Beverage Company, San Benedetto, Hangzhou Wahaha group, Ferolito Vultaggio and Sons, Dr, Pepper Snapple Group, Taisun Enterprise Co. Ltd., and Japan Tobacco Inc.

Ready To Drink (RTD) Tea Coffee Market is Segmented as Follows:

Ready To Drink (RTD) Tea Coffee Market is Tabulated as Follows: