The Ready-to-drink (RTD) Tea market is expected to reach a value of US$ 33.0 Bn in 2022. As per Future Market Insights (FMI), the overall market value is expected to reach US$ 70.5 Bn by 2032, rising at a CAGR of 7.9% for 2022-32.
Botanical flavours with clear labels and claims of health benefits are expected to perform well in the ready-made tea market. Worldwide popularity of spices, particularly ginger, is rising, and flavoured RTD tea use is driving up market demand.
While hot herbal teas have a long history of highlighting their natural health benefits, RTD teas are becoming increasingly popular. Botanical elements can be tailored to fit a variety of health and wellbeing requirements.
Tea drinkers like it for a variety of reasons, including stress alleviation, digestive health, energy increase, and immunity-boosting. Hence, growing need for a strong immune system has been stressed by COVID-19, pushing the sales.
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Due to bans in many regions, many botanical teas are unable to make unambiguous claims regarding the supposed functionality of their constituents. Botanical components (such as herbs and spices) are believed to have medicinal effects by majority of consumers, especially across Europe.
Therapeutic effects of tea over carbonated and soft beverages, as well as the convenience of RTD tea over regular tea, are boosting the market. To cater on this trend, key players are offering different ingredient such as mixing components and offering new flavors” – analyst at FMI.
Who is winning?
Some of the leading companies offering RTD Tea are Coca-Cola, JBD Group, Ting Hsin, Unilever, Amul, Uni-President, Arizona, Argo Tea, Britvic Soft Drinks, Dr Pepper Snapple, Asahi, Haelssen & Lyon, F&N Foods, Hangzhou Wahaha, Ito En, Kirin Beverage, HeySong, Marley’s Mellow Mood, Nongfu Spring, Malaysia Dairy, Pokka Sapporo Food and Beverage, PepsiCo, Suntory, Sweet Leaf Tea, Tai Sun, Tan Hiep Phat, Trade Winds, Vitalon, Xing Tea and Others.
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In its latest release, Future Market Insights offers an objective analysis of the Ready Made Milk Tea market by presenting historical demand data (from 2017 to 2021) and projected figures for the years 2022 to 2032.
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