The global readyto drink (RTD) tea and coffee market is expected to reach USD 116.13 billion by 2024,
according to a new report by Grand View Research, Inc. RTD tea and coffee are a
part of the growing trend in the soft drinks industry. These drinks are not
only perceived as instant energy drinks but also form a part of lifestyles in
major countries around the world. The enhanced nutritional benefits and
compatibility with different flavors is driving the demand for these products.
The major
factor promoting the ready to drink tea and coffee market is the rising health
awareness and disposable incomes of the population. The growing consumption of
on-the-go health drinks has largely impacted the demand for these products. The
changing retail scenario and rise of e-commerce as the new distribution channel
is expected to boost the market demand for these products over the forecast
period. The growing café culture and the changing habits related to tastes and
flavors have fueled the market demand for these products.
Browse full report by
Grand View Research : http://www.grandviewresearch.com/industry-analysis/ready-to-drink-tea-and-ready-to-drink-coffee-market
Further key findings from the report suggest:
·
Foodservice segment is expected to be the
fastest-growing distribution channel at a CAGR of 6.5% from 2016 to 2024.
Rising trend of restaurant dining coupled with the popularity of cafes and
snack parlors is expected to drive market demand. High availability of the
product in remote areas is expected to propel market growth over the forecast
period.
·
RTD tea was the dominant product segment
with a demand of over USD 84 billion by 2024. The enhanced health benefits
coupled with increased demand for flavored ice teas is expected to drive market
growth.
·
Regular price segment products are expected
to experience high demand owing to various flavors and economical pricing of
the product. The global market value for regular price segment in 2015 was over
USD 27 Billion.
·
MEA is expected to be the fastest growing
regional segment with a CAGR of 7.5% from 2016 to 2024. The rising café culture
in the Middle East owing to high young age population is driving the demand.
The high number of coffee plantations in the Africa is expected to drive market
growth on account of easy raw material availability.
·
The industry is characterized by new
products development and introduction of new flavors. The launch of novel
products such as mango flavored green tea is expected to drive the industry
over the forecast period.
Browse more reports of this category by
Grand View Research: https://www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
Grand View Research has segmented the
global RTD tea and coffee market on the basis of product, distribution channel,
packaging, price segment, and region:
Global RTD
Tea and Coffee Product Outlook (Revenue, USD Million, 2013 - 2024)
·
RTD Tea
·
RTD Coffee
Global RTD
Tea and Coffee Distribution Channel Outlook (Revenue, USD Million, 2013 - 2024)
·
Supermarket/Hypermarket
·
Convenience Store
·
Food Service
·
Others
Global RTD
Tea and Coffee Packaging Type Outlook (Revenue, USD Million, 2013 - 2024)
·
Canned
·
Glass Bottle
·
PET Bottle
·
Others
Global RTD
Tea and Coffee Price Segment Outlook (Revenue, USD Million, 2013 - 2024)
·
Premium
·
Regular
·
Fountain
·
Others
Global RTD
Tea and Coffee Regional Outlook (Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
·
Middle East & Africa
View press release of this research
report by Grand View Research:
https://www.grandviewresearch.com/press-release/global-ready-to-drink-tea-and-ready-to-drink-coffee-marketAbout Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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