ResearchAndMarkets.com recently released a report on the ready-to-drink (RTD) tea and coffee market titled, "Ready to Drink Tea and Coffee Market Report By Product Category (Tea, Coffee), Packaging Type (Glass Bottle, PET Bottle, Canned, Others), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online, Others), Countries and Company Analysis 2024-2032."
The report predicts the RTD tea and coffee market is experiencing a significant upswing, with projections indicating a rise from US$107.18 billion in 2023 to an impressive US$197.40 billion by 2032 with a compound annual growth rate of 7.02 percent between 2024 and 2032.
RTD tea and coffee beverages are those that are prepared in advance and meant for drinking on the go. These drinks are preferably bottled, canned, or put in cartons, hence portable, and provide the consumer with-energy boost through the caffeine content. RTD tea can include black, green, herbal, flavored teas while RTD coffee can include cold brew, iced coffee, and flavored/sweetened coffee.
Growth Factors
Factors contributing to this growth include the introduction of diversified flavors, increasing consumer incomes, and the widespread installation of RTD tea and coffee vending machines.
Convenience: With modern lifestyles becoming increasingly hectic, there is a growing demand for convenient, on-the-go beverage options. RTD tea and coffee products cater to consumers seeking quick and effortless refreshments that align with their busy schedules.
Health Benefits: Health-conscious buyers are turning towards RTD beverages with added health benefits, such as antioxidants, low sugar, vitamins, herbal extracts, and probiotics.
These additional components contribute to the products’ improvements in the nutritional value while providing a variety of products that can address one’s health-specific requirements and demands. Due to this reasoning, manufactures are coming up with formulations that enhance health without compromising on the convenience, making these better RTD beverages a great hit in the drink market.
Distribution: The extensive distribution networks for RTD beverages encompass supermarkets, hypermarkets, convenience stores, online platforms, and vending machines, making these products readily accessible worldwide. This ease of access is anticipated to continue to drive consumption across diverse demographics. Expanding the new distribution channels makes the market penetration higher and emphasizes on increasing the consumption of RTD beverages among different groups of the population. It makes certain that consumers can get their preferred drinks at any time and any place they want.
Growing Markets: The Asia-Pacific RTD tea and coffee market is also expanding, with nations like Japan, China, India, and South Korea modifying their dietary preferences to accommodate beverages suited to an active lifestyle. Growing disposable incomes and an inclination towards western-style beverages are also contributing to the expansion of the market in this region. Also adding to the Asia-Pacific ready-to-drink tea and coffee market growth is increasing disposable income per capita, enhanced peoples’ perceived health implication of tea and coffee, and popularization of western beverages.
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