The global ready-to-drink (RTD) tea and the coffee market size is expected to value at USD 116.13 billion by 2024. The RTD tea and coffee market is subject to witness substantial growth due to the growing demand for tea and distillates-based products and their easy availability. Ready to drink (RTD) tea and coffee are considered healthier alternatives to carbonated drinks and are highly favored among consumers as they provide instant energy and refreshment.
Ready-to-drink (RTD) tea and coffee contain required nutritional value coupled with absolutely no effort while preparation. Such advantages are escalating the expansion of the ready-to-drink (RTD) tea and coffee industry during the forecast period. The key factors driving the growth of the market are increasing consummation of tea and coffee products across the globe, and familiarity of taste associated with the consummation of the products.
The addition of the various flavors in the market and growing awareness about the health benefits of tea and coffee among consumers are some of the key reasons for the progress of the market in recent years. Globally, the ready-to-drink (RTD) tea and coffee market is predicted to grow at a CAGR of 5.6% in the forecast period, providing numerous opportunities for market players to invest in research and development in the market.
Aggressive marketing by the industry players and numerous brand improvement efforts by energy drink manufacturers is attracting more consumers towards ready-to-drink (RTD) tea and coffee products. Introduction of the green tea variants and various health benefits associated with its daily consummation, particularly by the genetic population, is significantly boosting the sales of the RTD products, thus leading to the growth of the ready-to-drink (RTD) tea and coffee industry over the forecast period.
Though changing cost of coffee beans is leading to fluctuations in the prices of the RTD coffee products, thus restraining the growth of the ready-to-drink (RTD) tea and coffee market in recent years. However, numerous manufactures are making significant efforts to counterbalance fluctuations in the cost of coffee beans by achieving economies of scale during the manufacturing processes. Varying lifestyles and changing food patterns are paving the way for ready-to-drink (RTD) and ready-to-eat food products, while replacing meals with healthier snacks, thus spurring market growth shortly.
Ready to drink or RTD are types of packaged beverages that are vented in a prepared form and consumed without preparation. The ready-to-drink (RTD) tea and coffee products can easily be distinguished from packaged products which commonly require some sort of preparation before consummation. Ready to drink (RTD) tea and coffee products are specially catered to the demand of the consumers preferring healthier on-the-go drinks. The addition of the natural and organic concentrates coupled with fruit extracts provides the required nutritional value to the products, attracting more and more consumers in the process.
The ready-to-drink (RTD) tea and coffee industry is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. Middle-east and Africa have shown major growth in recent years owing to the introduction of new flavored tea and coffee products, attracting a larger customer base, and the presence of prominent industry players in the region. Asia-Pacific region is predicted to hold a major market share in the ready-to-drink (RTD) tea and coffee industry with massive growth in the forecast period.
Countries such as India, China, and Singapore are leading the Asia-Pacific market with rising consumption of tea and coffee alongside an ever-changing retail landscape, creating numerous opportunities for market players in the region. The key players in the ready-to-drink (RTD) tea and coffee market are Suntory Holdings Limited, Nestlé S.A., The Coca-Cola Company, PepsiCo Incorporations, Starbucks Co., Monster Beverage Company, and Danone Co.
Ready to Drink Tea and Coffee Product Outlook (Revenue, USD Million, 2013 - 2024)
• RTD Tea
• RTD Coffee
Ready to Drink Tea and Coffee Distribution Channel Outlook (Revenue, USD Million, 2013 - 2024)
• Convenience Stores
• Food Service
Ready to Drink Tea and Coffee Packaging Type Outlook (Revenue, USD Million, 2013 - 2024)
• Glass Bottle
• PET Bottle
Ready to Drink Tea and Coffee Price Segment Outlook (Revenue, USD Million, 2013 - 2024)
Ready to Drink Tea and Coffee Regional Outlook (Revenue, USD Million, 2013 - 2024)
• North America
• the Asia Pacific
• Latin America
• Middle East & Africa
Research Support Specialist, USA
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