NEWARK, Del, May 22, 2023 (GLOBE NEWSWIRE) -- The ready-to-drink (RTD) tea market is registering a valuation of US$ 34.3 Billion in 2023 and is estimated to reach US$ 72.9 Billion by 2033. The market is capturing a CAGR of 8% during the forecast period.
Growing Popularity of Green Tea:
People are fond of green tea, which is increasing the global market during the forecast period. The rising consumer awareness of health benefits and weight control with antioxidant properties is fueling the global market. Therefore, many consumers are adopting green tea into their daily routines.
The increasing demand for portable and convenient ready-to-eat drinks drives the global market. Consumers enjoy their cups of ready-to-drink tea with natural ingredients that promote sustainability and reduce toxicity. The changing consumer's lifestyle, busy schedules, and easy-to-drink changing habits are increasing the adoption of ready-to-drink tea.
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Increasing demand for organic, natural, and various flavored ready-to-drink tea drives the global market. The manufacturers offer ready-to-drink green tea in various flavors, including herbs, fruits, and spices. According to taste and habit, consumers can find their preferred tea.
The growing awareness of healthy digestion, an active body, and better stamina, the demand for green tea is flourishing in the global market. Growing innovations, research and development activities, and promoting sustainability are advancing the global market.
Key Takeaways:
- The ready-to-drink (RTD) tea market is predicted to register a CAGR of 8% with a valuation of US$ 72.9 Billion in 2033.
- In the historical period, the market secured a valuation of US$ 33.0 Billion in 2022.
- The United States is estimated to lead the global market by securing a share of 2.7% by 2033.
- Germany is significantly growing the global market size by capturing a share of 4.9% during the forecast period.
- With a share of 3.2%, Japan is anticipated to drive the global market during the forecast period.
- Australia is projected to capture a share of 2.7% in the global market by 2033.
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How Key Players are Advancing the Global Market?
Key players are advancing the global market through various steps such as:
- Product Innovation: Key players focus on providing innovative and unique products that attract consumers' requirements. These key players are introducing fresh flavor products such as herbs, spices, and tea products with natural ingredients with health benefits.
- Marketing and Branding: Key players are expanding their business through marketing and branding their products on various channels. These channels include online platforms, retail shops, and social media campaigns. Through these, relevant audiences can connect quickly and increase their sales volume.
- Packaging and Convenience: Key players invest in simple, convenient, attractive packaging. This packaging can preserve goods for long life without toxicity and harmful chemicals.
- Focus on Wellness and Health: With rising consumer demand for healthy drinks and ready-to-drink, key players develop functional ingredients. These functional ingredients include vitamins, antioxidants, and adaptogens, advancing market growth.
Recent Developments:
- Coca-Cola is a significant company that offers ready-to-drink tea. Recently, the company launched Gold Peak, Honest Tea, and Fuze Tea to expand its business portfolio.
- Arizona Beverage Company launched its new ready-to-drink tea, Arnold Palmer Half & Half. The company expands its business portfolio through online platforms and distribution channels.
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Market by Categorization:
By Product Types:
- Herbal
- Black tea
- Green tea
- Others
By Sales Channel:
- Direct Sales
- Indirect Sales
By Region:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East Africa
Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Types
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US Million) & Volume (Units) Analysis By Product Types, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Types, 2023 to 2033
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Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
Ready to Drink Shakes Market Size: The global ready to drink shakes market is expected to reach a market valuation of US$ 11.0 Billion by the year 2022, accelerating with a CAGR of 7.5% by 2022 to 2032.
Ready to Drink Beverages Market Share: The Ready-to-Drink Beverages Market is projected to grow at a CAGR of 6.2% during the forecast period.
Ready to Drink Coffee Market Trends: The ready-to-drink coffee market is expected to expand its roots at an average CAGR of 5.0% during the forecast period. The market is likely to hold a revenue of US$ 27.35 Billion in 2023 while it is anticipated to cross a value of US$ 43.78 Billion by 2033.
Frozen Ready Meals Market Forecast: The global frozen ready meals market size is projected to expand from US$ 51.5 Billion in 2023 to US$ 122.4 Billion by 2033.
Commercial Drink Mixers Market Value: The 2022 to 2032 period is expected to bring a steady 4.4% CAGR to the global commercial drink mixers market. By 2022 end, the market’s valuation is poised to reach US$ 784.5 Million.
Plant-Based Energy Drink Market Sales: The overall demand for plant-based energy drinks is projected to grow at a CAGR of 6.11% between 2022 and 2032, totaling around US$ 16,285.7 Million by 2032.
Iced Tea Market Overview: The iced tea market is likely to be valued at US$ 6,100 Million by 2022 end, and is projected to proliferate at a value CAGR of 6.4% across the forecast period ranging from 2022 to 2032.
USA Bubble Tea Market Opportunity: The USA bubble tea market size is forecast to increase from US$ 368.7 Million in 2023 to US$ 1,245 Million by 2033.
Herbal Tea Market Growth: The global herbal tea market is forecasted to be valued at US$ 3,700 Million in 2022. During the forecast period ranging from 2022 to 2032, sales of herbal tea are expected to grow at a CAGR of 7.1%, to be valued at US$ 7,339.9 Million.
Organic Tea Market Demand: The organic tea market is expected to expand its roots at a steady CAGR of 8.0% during the forecast period. The market is likely to hold a revenue of US$ 1.24 Billion in 2023 while it is anticipated to cross a value of US$ 2.69 Billion by 2033.
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