The ready-to-drink (RTD) tea market is valued at USD 34.3 billion in 2023 and is projected to grow to USD 72.9 billion by 2033, with an anticipated CAGR of 8% over the forecast period.
Growing Popularity of Green Tea:
The global market for green tea is expanding as more people embrace its health benefits. Increased consumer awareness about its antioxidant properties and role in weight management is driving this growth. As a result, many individuals are incorporating green tea into their daily routines.
The growing demand for portable and convenient ready-to-drink beverages is fueling the global market. Consumers favor ready-to-drink tea that features natural ingredients, supporting sustainability and minimizing toxicity. Shifts in lifestyle, busy schedules, and evolving drinking habits are driving greater adoption of these convenient tea options.
The rising demand for organic, natural, and diverse flavored ready-to-drink teas is driving global market growth. Manufacturers are providing an array of ready-to-drink green tea options, including flavors infused with herbs, fruits, and spices. This variety allows consumers to choose a tea that best suits their tastes and preferences.
Increased awareness of healthy digestion, physical vitality, and improved stamina is boosting global demand for green tea. Innovations, ongoing research and development, and a focus on sustainability are driving advancements in the 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.
Competitive Landscape
Leading brands are now implementing targeted social media strategies to engage tech-savvy young consumers who prioritize value, customization, and seamless digital access. With the rise in internet penetration, there has been a substantial increase in online users.
Key players in the ready-to-drink tea industry are strategically promoting their products across various social media platforms. This group media marketing approach is anticipated to drive significant growth opportunities for the RTD tea market during the forecast period.
Recent Developments in the Global Ready-to-Drink (RTD) Tea Market
- In 2021, Coca-Cola Company launched its ready-to-drink products in a variety of ranges including Honest Tea, Fuze Tea, and Gold Peak. The company expands its portfolio due to the growing demand for ready-to-drink tea.
- Unilever owns the ready-to-drink tea brand Lipton to promote sustainable and eco-friendly tea products.
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
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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