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Ready to Drink Tea and Coffee Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Ready to Drink Tea and Coffee Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • September 2022
  • 108 pages
  • ID: 5827199
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global ready to drink tea and coffee market size reached US$ 94.3 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 140.7 Billion by 2027, exhibiting a growth rate (CAGR) of 7.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Ready to drink (RTD) tea and coffee refer to pre-prepared packaged beverages that are ready for consumption at the time of purchase. Some of the commonly available RTD tea includes fruit, black, green, herbal, matcha, oolong and iced, and RTD coffee includes yerba mate, guarana, acai berry, ginseng, taurine and iced variants. They are manufactured using various additives, extracts, preservatives, artificial and natural sweeteners, flavors, acidulants and nutraceuticals. These products are usually fortified with essential vitamins and minerals and are a rich source of antioxidants. For instance, RTD green tea is infused with catechin, and black coffee is enriched with vitamin B, potassium, magnesium, polyphenols and caffeine. They are widely served in cans, glass bottles, polyethylene terephthalate (PET) bottles and aseptic cartons. In comparison to the conventionally used beverage mixes, powders or brew-it-yourself tea or coffee products, RTD tea and coffee offer various health benefits and enhanced convenience to the consumers.

Rising Popularity of Ready-to-Drink Beverages Boosting the Market Growth
The market is primarily driven by the increasing demand for RTD beverages, such as packaged teas and coffees, across the globe. The changing lifestyles, increasing expenditure capacities and shifting dietary preferences of consumers are further providing a thrust to the market growth. Due to the increasing working population and hectic schedules, the consumption of RTD tea and coffee products has escalated significantly. Consumers are increasingly preferring food and beverages that require minimum time to prepare and can be consumed on-the-go. The canned and bottled packaging of these beverages are also adding to the convenience of consumers, thereby increasing their overall demand.

In line with this, rising health consciousness and awareness regarding the adverse effects of prolonged consumption of carbonated drinks are acting as other growth-inducing factors. Furthermore, the increasing prevalence of chronic lifestyle ailments, such as heart diseases, diabetes, obesity and cancer, along with the rising geriatric population, which is more susceptible to such conditions, has enhanced the demand for RTD beverages to meet the patients’ dietary requirements. RTD teas and coffees can also be customized to provide personalized health benefits to the consumers to fulfill the nutritional gaps, especially in women and children. Furthermore, the youth across various developed and developing countries are shifting to RTD beverages in place of synthetic sports drinks for an instant boost of energy.

Significant growth in the Food and Beverage Industry Favoring the Market Growth
The increasing demand for ready-to-drink tea and coffee is further supported by significant growth in the food and beverage industry across the globe. Hotels, cafes and quick serving restaurant (QSR) chains are offering a wide variety of RTD beverages to their customers. They are also used as recreational products to attract the younger population seeking a healthier alternative to carbonated drinks that have high sugar content. RTD teas and coffees have low-calorie content and are also known to relieve stress, anxiety and improve mental functioning, energy levels, hydration levels and eyesight. Certain variants infused with herbs and spices, such as ginger, cumin, fennel, basil and rosehip, also have anti-inflammatory compounds that aid in reducing body pain, bloating, arthritic joint pain and muscle soreness. Moreover, RTD coffees are being considered as a gourmet product and are widely preferred by consumers to relax from their hectic schedules.

Shifting Preference Toward Organic Product Variants to Create Positive Outlook for the Market
The emerging trend of better-for-you beverages has significantly enhanced the demand for RTD tea and coffee. The rising health consciousness among the masses has also led to the increasing demand for healthier and organic beverages that are manufactured using non-genetically modified organism (GMO) ingredients or functional formulations. The product manufacturers are also developing variants with improved flavors that are produced using plant-based milk and infused with fruity and floral flavors, such as apple, peach, orange, lavender and rose.

Proliferating Online Retail Channels to Propel the Market Growth
The market is further driven by aggressive promotional activities by product manufacturers on various social media platforms through the Internet. In line with this, millennials are among the largest consumers of RTD beverages and are highly influenced by social media personalities. Product vendors are using innovative marketing strategies to promote these beverages through influential celebrities and sports personalities to reach and attract a broader consumer base. They are using attractive packaging solutions to grab the consumer’s attention and provide them with an authentic and luxurious experience through their high-quality products. Through online retail platforms, consumers are now able to place orders from the convenience of their homes and the product manufacturers and vendors are able to reach the audiences present in remote locations. They can also now operate with minimal expenses and are increasingly investing in the research and development (R&D) activities of the products.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global ready to drink tea and coffee market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product, additives, packaging, price segment and distribution channel.

Breakup by Product:
RTD Tea
Black Tea
Fruit & Herbal Based Tea
Oolong Tea
Green Tea
RTD Coffee
Ginseng
Vitamin B
Taurine
Guarana
Yerba Mate
Acai Berry

Breakup by Additives:
Flavors
Artificial Sweeteners
Acidulants
Nutraceuticals
Preservatives
Others

Breakup by Packaging:
Glass Bottle
Canned
PET Bottle
Aseptic
Others

Breakup by Price Segment:
Premium
Regular
Popular Priced
Fountain
Super Premium

Breakup by Distribution Channel:
Off-Trade
Independent Retailers
Supermarkets and Hypermarkets
Convenience Stores
Others
On-Trade
Food Service
Vending

Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:
The report has also analyzed the competitive landscape of the market, with some of the key players being Asahi Breweries, Dr Pepper Snapple Group, Starbucks, Pepsico, The Coca Cola Company, Ajinomoto General Foods Inc., Ting Hsin International Group, Uni-President Enterprises Corporation, Nestlé, Dunkin’ Brands, Ferolito Vultaggio & Sons, Keurig Dr Pepper, Hangzhou Wahaha Group, Lotte Chilsung, Monster Beverage, Acqua Minerale San Benedetto, Kirin Holdings Company, Unilever, Arizona Beverage Company, Suntory, etc.

Key Questions Answered in This Report
1. What is the size of the global ready to drink tea and coffee market?
2. What is the expected growth rate of the global ready to drink tea and coffee market?
3. What are the key factors driving the global ready to drink tea and coffee market?
4. What has been the impact of COVID-19 on the global ready to drink tea and coffee market?
5. What is the breakup of the global ready to drink tea and coffee market based on the product?
6. What is the breakup of the global ready to drink tea and coffee market based on the packaging?
7. What is the breakup of the global ready to drink tea and coffee market based on the distribution channel?
8. What are the key regions in the global ready to drink tea and coffee market?
9. Who are the key players/companies in the global ready to drink tea and coffee market?

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