The ready-to-drink (RTD) tea market is valued at USD 34.3 billion in 2023 and is expected to grow to USD 72.9 billion by 2033, driven by an 8% CAGR over the forecast period.
The global tea market is anticipated to experience growth, according to research forecasts. Tea is offered in a variety of flavors by numerous competitors, with tea bags (dip bags) being particularly popular in several developed regions.
Rising consumer awareness of the health benefits of tea is driving the global ready-to-drink (RTD) tea market. RTD tea is increasingly favored for its potential benefits, including weight loss support, headache and pain relief, cholesterol reduction, and a lower risk of heart attacks.
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.
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.
Key Players Operating in the Global Market
- DANONE
- HARNEY & SONS FINE TEAS
- NESTLE S.A.
- SNAPPLE BEVERAGE CORP.
- STARBUCKS CORPORATION
- BEAM SUNTORY, INC.
- TATA CONSUMER PRODUCTS LIMITED
- THE COCA-COLA COMPANY
- THE REPUBLIC OF TEA
- UNILEVER PLC
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Ready to Drink (RTD) Tea Market by Category
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
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