Moreover, availability of RTD tea in a variety of flavors is an added advantage for the market growth. Growth of the organized retail sector and the increasing presence of RTD tea in supermarkets and hypermarkets are projected to further boost the growth of the global RTD tea market.
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In November 2018, Coca-Cola European Partners plc invested USD 21.5 million in a new bottling line at its production facility in Socx, France. The expansion of this new line would support the development of the Coca-Cola company’s Fuze Tea brand in glass bottle format, with production at the plant destined to serve markets in neighboring European countries.
Some of the key players in the global RTD Tea Market are Nestle S.A. (Switzerland), ITO EN LTD. (Japan), PepsiCo, Inc. (US), Hain Celestial Group (US), The Republic of Tea (US), Tata Global Beverages (India), Bearfield (Netherlands), Unilever (UK), Starbucks Corporation (US), Dilmah (Sri Lanka), Snapple Beverage Corp. (US), Coca-Cola Company (US), Harney & Sons Fine Teas (US), Inko’s Tea (US) and Blu-Dot Beverage Company (Canada)
Some of the strategies followed by the players operating in the market were product launches, acquisitions, mergers, and expansions.
Global RTD Tea Market has been segmented based on type, category, packaging, distribution channel, and region.
The global RTD tea market has been bifurcated, by category, into organic and conventional. The conventional segment is expected to dominate the market in 2019 owing to the widespread availability of the products across the globe. However, with growing awareness for organic RTD tea and rising investment by the key players in the product launch of organic RTD tea, the organic segment is projected to register the higher CAGR during the forecast period.
Global RTD Tea Market has been segregated, by packaging type, into bottles, cans, and cartons. The bottles segment is estimated to dominate the market in 2019 owing to the ease of consumption and storage of the products. Moreover, innovative packaging of bottles and their availability in different sizes are driving the growth of this segment. Thus, the bottles segment is projected to record the highest CAGR during the forecast period.
On the basis of region, the global RTD tea market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Growing demand for functional beverages in European countries is primarily contributing to the growth of RTD tea market in Europe. However, the market in Asia-Pacific is projected to register the highest CAGR during the forecast period. Growing focus on health and wellness among the consumers and increasing spending on healthy food and beverages is mainly driving the growth of the RTD tea market in this region.
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