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.

Key Players

Some of the key players in the global RTD Tea Market are Tata Global Beverages (India), The Republic of Tea (US), ITO EN LTD. (Japan), Nestle S.A. (Switzerland), Hain Celestial Group (US), Bearfield (Netherlands), PepsiCo, Inc. (US), Snapple Beverage Corp. (US), Coca-Cola Company (US), Starbucks Corporation (US), Unilever (UK), Dilmah (Sri Lanka), Harney & Sons Blu-Dot Beverage Company (Canada), Fine Teas (US), and Inko's Tea (US).

Regional Analysis

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.

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.

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Segment

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 segment is projected to record the highest CAGR during the forecast period.

On the basis of 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.