The
global ready to 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.
U.S RTD Tea And Coffee Market Revenue, By Distribution Channel, 2013 - 2024 (USD Million) |
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
research report on Ready to Drink Tea And Coffee Market: 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: 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
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Middle
East & Africa
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-ready-to-drink-tea-and-ready-to-drink-coffee market
About 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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