Ready To Drink Tea And Coffee Market: Online Distribution Is Expected To Grow At The Fastest Rate
Ready to Drink Tea and Coffee Industry Overview
The global ready to drink tea and coffee market size was valued at USD 98.04 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. Rising demand for energy drinks that have a taste familiar to coffee and tea is one of the primary factors driving market expansion. Additionally, the growing prevalence of lifestyle diseases is pushing consumers toward ready-to-drink tea and coffee since these contain antioxidants and other beneficial ingredients. Positioning RTD tea and coffee as recreational products has succeeded in boosting their consumption among millennials.
The COVID-19 outbreak has positively impacted the growth of the overall food & beverage industry, including products such as RTD tea and coffee. At the World Tea Summit held in October 2020, Peter F. Goggi, President of the Tea of Association of the U.S., said that the pandemic has enhanced tea consumption. The dramatic increase was not only driven by health and wellness, but also by the ability of tea to provide a feeling of comfort. RTD tea and coffee are a subgroup of soft drinks but differ in function with proven health benefits.
Gather more insights about the market drivers, restrains and growth of the Global Ready to Drink Tea and Coffee market
Growing consumer awareness regarding the health concerns associated with the consumption of carbonated drinks is leading to a shift toward ready-to-drink tea and coffee. Rapid socio-economic development that has taken place over the last two decades has led to a rise in the cases of several chronic health conditions such as cancer, heart disease, and diabetes. Health advantages associated with the consumption of RTD tea and coffee are drawing older populations toward the segment. Diverse products are being launched in the market to cater to the wide consumer base spread across geographies.
For instance, in June 2019, The Coca-Cola Company and Costa Coffee launched Costa Coffee Ready-to-Drink (RTD), a chilled, canned coffee brewed with Costa beans. Several nutraceutical ingredients are also being incorporated to create more functional and versatile products. Customizing health beneficial products for children and women is the strategy of some major players to penetrate the market. In May 2020, Promise Beverages, a new premium socially-responsible beverage brand launched a line of craft small-batch Cold Brew Tea, which is made with high-quality, organic ingredients.
However, unforeseeable rainfall and a rise in the cost of agricultural inputs have increased the cost of raw materials, which increases the cost of the final product. The higher cost of RTD tea and coffee than conventional hot tea and ground coffee is one of the major hindrances to the growth of the market. Moreover, prevalent practices of brewing hot tea and coffee can constrain market expansion. The crucial and indispensable winning imperative of the industry is widely spread distribution networks of major players across different geographies, which help them supply products to a vast number of consumers.
Browse through Grand View Research's Consumer F&B Industry Research Reports.
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Ready to Drink Tea And Coffee Market Segmentation
Grand View Research has segmented the ready to drink tea and coffee market based on product, packaging, distribution channel, and region:
Ready to Drink Tea And Coffee Product Outlook (Revenue, USD Million, 2017 - 2030)
- RTD Tea
- Black
- Green
- Fruit
- Kombucha
- Others
- RTD Coffee
Ready to Drink Tea And Coffee Packaging Outlook (Revenue, USD Million, 2017 - 2030)
- Canned
- Glass Bottle
- PET Bottle
- Others
Ready to Drink Tea And Coffee Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Supermarkets/Hypermarkets
- Convenience Stores
- Food Service
- Online
Ready to Drink Tea And CoffeeRegional Outlook (Revenue, USD Million, 2017 -2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global ready to drink tea And coffee Market include:
- Suntory Holdings Limited
- Nestlé
- The Coca-Cola Company
- Unilever
- Asahi Group Holdings, Ltd.
- PepsiCo
- Starbucks Coffee Company
- Monster Energy Company
- Danone
- AriZona Beverages USA
Order a free sample PDF of the Ready to Drink Tea and Coffee Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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