Market Overview:
Market Research Future (MRFR)
announces the publication of its research report Global RTD Tea Market,
2017–2024.
The global RTD tea market size is expected to
register a CAGR of 5.7% during the forecast period to reach USD 21.30 billion
by 2024. The growing health conscious population and its increasing demand for
functional beverages is driving the growth of the global RTD tea market. Owing
to busy lifestyles, the demand for on-the-go beverages has increased
considerably which is contributing to the growth of RTD tea market across the
globe. Moreover, innovative healthy flavors of RTD tea such as fermented
kombuchas, fruit flavored teas, fusion, and craft teas are further boosting the
growth of the global RTD tea market.
The global RTD tea market has
been segmented on the basis of region into North America, Europe, Asia-Pacific,
and the rest of the world.
Global Key Players:
·
Tata Global Beverages
·
The Republic of Tea
·
ITO EN LTD.
·
Nestle S.A.
·
Hain Celestial Group
·
Bearfield
·
PepsiCo, Inc.
·
Snapple Beverage Corp.
·
Coca-Cola Company
·
Starbucks Corporation
·
Unilever
·
Dilmah
·
Harney & Sons Blu-Dot Beverage Company
·
Fine Teas
·
Inko's Tea
Regional Analysis:
The market in North America
accounted for the largest share of the global RTD tea market in 2018 with the
US being the major contributor to the growth of the market. Growing health
concerns among the consumers and their inclination toward healthy diet patterns
is driving the growth of the North American RTD tea market. Consumers have been
replacing carbonated soft drinks with RTD tea, mainly in the US. Moreover,
product launches of unsweetened RTD tea and organic RTD tea are further driving
the growth of RTD tea market in this region.
The market in Europe is expected
to account for the second-largest share of the RTD tea market during forecast
period. The RTD tea market in the region is projected to witness significant
growth owing to increasing consumption of functional beverages due to increase
in health consciousness. Moreover, various recent investments have been
undertaken by the key players to expand their presence in Europe which is
contributing to the growth of the RTD tea market in this region.
The market in Asia-Pacific is projected
to be the fastest-growing during the forecast period. Countries such as China,
Japan, India, and Australia are projected to be the major contributors to the
growth of the RTD tea market in this region. The region consists of two major
tea consuming countries— India and China. Growing awareness and rising per
capita disposable incomes are projected to drive the growth of the RTD tea
market in these developing countries. Moreover, strong growth of the retail
sector in these emerging markets will further assist in the growth of RTD tea
market in this region with the ease of product availability.
The rest of the world includes
the Middle East, Africa, and South America, with South America accounting for
the majority market share in 2018. Increasing health consciousness and rising
spending on healthy refreshment drinks is driving the growth of the RTD tea
market in this region. The Middle East and Africa are also expected to witness
increased RTD tea consumption during the forecast period.
Market Segmentation:
The global RTD tea market has
also been segmented by type, category, packaging type, and distribution
channel.
By type, the global RTD tea
market has been classified as black tea, green tea, white tea, and others. The
black tea segment is projected to dominate the market during the forecast
period. However, the Green
Tea Market segment is projected to record the highest CAGR during the
forecast period.
Based on category, the market has
been bifurcated into organic and conventional. The conventional segment
dominated the market in 2018. However, the organic segment is projected to
register the higher CAGR during the forecast period.
Based on the packaging type, the
market has been segmented into bottles, cans, and cartons. The bottles segment
accounted for the majority market share in 2018 and is projected to be the
fastest growing during the forecast period.
The market has been classified,
because of distribution channel, as store-based and non-store-based. The
store-based segment has been further categorized into supermarkets and
hypermarkets, convenience stores, and others. The store-based segment accounted
for the larger market share in 2018.
However, the non-store-based segment is projected to record the higher
CAGR during the forecast period.
Get Complete Research Report @
https://www.marketresearchfuture.com/reports/rtd-tea-market-7930
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