According to Renub Research, report titled “Ready to Drink Tea and Coffee Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis” the Ready to Drink Tea and Coffee Market is expected to reach US$ 153.19 Billion by 2027. Globally, tea and coffee that are ready to drink are packaged beverages sold in a ready-to-drink state. To replace nutritional shortages, RTD tea and coffee can also be modified to deliver personalized health benefits to consumers, especially for children and women. As a result, young people in both developed and developing countries are switching to RTD beverages for a quick boost of energy instead of synthetic sports drinks. Furthermore, ready-to-drink tea and coffee can be used as a substitute for carbonated drinks. Remarkably, Ready to Drink Tea is regarded as a healthy beverage. At the same time, Ready to Drink Coffee is considered a reliable source of immediate energy.
Worldwide Ready-to-Drink Tea and Coffee Market was valued at US$ 100.10 Billion
In recent years, due to customers’ busy and fast-paced lifestyles, ready-to-drink tea and coffee has seen increased demand as an alternative to carbonated drinks. In addition, changing lifestyles that encourage on-the-go eating and a growing tendency of substituting less nutritious snacks for meals has increased by global Ready to Drink Tea and Coffee acceptance. As a result, the market has been developing moderately with considerable growth rates over the last few years. It is anticipated to increase significantly in the anticipated period, i.e., 2021-2027.
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How COVID-19 Benefited the Ready-to-Drink tea and Coffee Industry
The global ready-to-drink tea and coffee market rose due to the COVID-19. Restaurants, cafés, tea micro-roasters, and other out-of-home outlets have all been harmed by measures such as social separation and lockdowns. Nonetheless, the present trend toward online purchase for consumption at home is forcing retailers, roasters, and consumers to adjust to this new reality. As a result, this factor boosts the global consumption of RTD coffee and tea. As a result, demand for RTD tea and coffee increased in 2020, resulting in increased RTD tea and coffee retail sales.
Ready To Drink Tea Segment Holds a Significant Share of The Global Tea And Coffee Market:
Our report divides the market into two product categories: ready-to-drink tea and ready-to-drink coffee. The fastest-growing segment was Ready to Drink tea owing to the availability of the most appropriate tea tastes, such as fruit, black, green, herbal, matcha, oolong, and iced, as well as additional nutritional benefits such as necessary vitamins and minerals and a high supply of antioxidants. For example, catechin is present in RTD green tea. On the other hand, RTD coffee comes in a variety of flavors, including yerba mate, guarana, acai berry, ginseng, taurine, and iced varieties. In contrast, black coffee is high in vitamin B, potassium, magnesium, polyphenols, and caffeine.
The PET Bottle Segment is expected to have the largest market share:
The RTD tea and coffee industry is divided into four categories based on packaging: glass bottle, PET bottle, canned, and others. The PET bottle category is expected to have the most significant share in the worldwide RTD tea and coffee market. Notwithstanding, PET receptacles are in high demand among liquid manufacturers in the beverage packaging business because they are recyclable.
Distribution Channels in Ready-To-Drink Coffee and Tea Industry:
As per our analysis, ready-to-drink coffee and tea distribution are controlled by distribution channels such as supermarkets/hypermarkets, specialty stores, online stores, and others. Due to the significant increase in demand, Supermarkets/Hypermarkets and Specialty Stores are increasingly selling high-quality coffee and tea at cheap costs, appealing to busy consumers and effectively reacting to their lifestyles.
North America Has the Fastest-Growing Market for Ready-To-Drink Tea and Coffee:
As per our report estimates, due to increased consumer knowledge about the negative consequences of carbonated beverages, North America is the fastest-growing ready-to-drink tea coffee industry. Furthermore, due to increased demand for these products, Canada and the United States are driving the RTD tea and coffee business expansion in North American region. Moreover, the entire sector in the United States is expanding as the country’s health awareness grows.
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Key Market Players:
According to our report, Suntory Holdings Ltd, Nestle SA, Asahi Group Holdings Ltd, Uni-President Enterprises, PepsiCo Inc, The Coca-Cola Company, Starbucks Corporation, Monster Beverage Company, Danone, and Unilever are among the market’s key players. Furthermore, the analysis includes a global overview, recent developments/initiatives, and the revenue of the players mentioned above.
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