Industry Background:
Ready to drink (RTD) tea is a tea flavored beverage that is sold in prepared form and can be consumed on the go. It comes in various flavors such as black, green, jasmine, red and fruit among others. Mounting demand of RTD tea is attributed by the fast-paced lifestyle of consumers and health benefits associated with its consumption.
According to AMA, the market for RTD Tea is expected to register a CAGR of 4.0% during the forecast period to 2026. This growth is primarily driven by Medicinal Benefits of Green Tea and Millennial Attraction Towards Cafe Culture.
Globally, a noticeable market trend is evident Rising Demand for Innovative Flavors
. The Soft Drinks sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Coca-Cola [United States], JBD Group [Hong Kong], Ting Hsin [Taiwan], Unilever [United Kingdom], Uni-President Enterprises Corporation [Taiwan], Amul [India], Argo Tea [United States], Arizona Beverage [United States], Asahi Breweries [Japan], Britvic Soft Drinks [United Kingdom], F&N Foods [Singapore], Haelssen & Lyon GmbH [Germany], Hangzhou Wahaha Group [China], HeySong Corporation [Taiwan], Ito En [Japan], Kirin Beverage [Japan], Malaysia Dairy [Singapore], Marley's Mellow Mood [United States], Nongfu Spring [China], PepsiCo [United States], Pokka Sapporo Food and Beverage [Japan], Suntory [Japan], Sweet Leaf Tea [United States], Tai Sun [Taiwan], Tan Hiep Phat [Vietnam], Trade Winds [United States], Vitalon [Taiwan] and Xing Tea [United States] etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
September 2018 - : Amul announced its intention to acquire manufacturing plant in United States. though no agreement has been made as of now but the company is seriously exploring acquisition options in dairy plant to start its own operation. and January 2018 - : Dr Pepper Snapple Group, Inc. intended to merge with Keurig Green Mountain, Inc.. New company with name Keurig Dr Pepper (“KDP”), would emerge out of this merger. Under the terms of the agreement, Dr Pepper Snapple shareholders will retain 13% of th
June 2018 - : United States natural tea company Bhakti launched RTD iced chai with cashew-milk. The various flavors are classic, cold brew coffee, mocha, sugar free toasted coconut.
Regulatory Insights:
As per European Union General Food Law, to guarantee food safety, it must be traceable throughout the supply chain and risks of contamination must be limited. Implementing a quality management system can be an important tool in controlling food safety hazards. and FDA too has mandated to manufactures that labeling of products is necessary and any misleading information will result in strictest action.
Market Drivers
- Medicinal Benefits of Green Tea
- Millennial Attraction Towards Cafe Culture
Market Trend
- Rising Demand for Innovative Flavors
- Wide Consumption of Hot Tea
- Growing Health Awareness resulted in Rise in Demand of Organic RTD Tea
- Use of Natural Sweeteners
Restraints
- Relatively High Cost
- Low Adoption in Emerging Countries
Opportunities
Adoption of Innovative Packaging Methods and Rising Disposable Income and Changing Lifestyle in Emerging Countries
Challenges
Eco-Friendly Packaging and Maintaining Consistence Innovative Product Cycle
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, RTD Tea Study Sheds Light on
The RTD Tea Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the RTD Tea industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where RTD Tea industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.