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, reflecting a compound annual growth rate (CAGR) of 8% during the forecast period.
Growing Popularity of Green Tea Upsurge the Global Market?
The popularity of green tea is driving growth in the global market during the forecast period. Increasing consumer awareness of its health benefits, including weight management and antioxidant properties, is encouraging many individuals to incorporate green tea into their daily routines.
Additionally, the rising demand for portable and convenient ready-to-drink beverages is further boosting the market. Consumers prefer ready-to-drink teas made with natural ingredients that promote sustainability and minimize toxicity. Changing lifestyles, busy schedules, and a shift towards convenient drinking habits are all contributing to the growing adoption of ready-to-drink tea.
The rising demand for organic, natural, and flavored ready-to-drink teas is driving growth in the global market. Manufacturers are offering ready-to-drink green tea in a variety of flavors, including herbs, fruits, and spices, allowing consumers to choose according to their tastes and preferences.
Increased awareness of the benefits of healthy digestion, physical activity, and improved stamina is contributing to the flourishing demand for green tea. Additionally, ongoing innovations, research and development efforts, and a focus on sustainability are further propelling the growth of 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.
Recent Developments in the Global Market are:
- 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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