Asia-Pacific Ready to Drink Tea Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Ready to Drink Tea Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific Ready to Drink Tea Market is projected to grow at a CAGR of 7.6% in the forecast period 2020-2025.

Key Highlights

• Due to its technology of RTD, the tea market is a concern for all the manufacturers. The increasing demand from all age groups and rising income in developing countries are major drivers for the segment growth in the region.
• Asia-Pacific holds majority of shares in the market which is closely followed by Europe.Emerging countries like India, China and Singapore among others are few of the major markets for RTD.

Key Market TrendsSupermarket/Hypermarkets Plays A Major Role To Drives The Market

Distribution of ready to drink tea has expanded to several mainstream channels, such as supermarkets, hypermarkets, Specialist Stores, etc. Among the numerous outlets available, supermarket/hypermarkets are preferred in the countries as it has varied varieties of tea of different companies along with the catering to consumer’s preferences, is anticipated to drive the market growth in the future. The increase in demographics spending, ease, and convenience through supermarket purchases is expected to pave a strong pathway for RTD tea manufacturers to penetrate, particularly in the developing countries, where these stores are being set in large number.

Japan Occupies The Leading Position

Japan occupies the leading position in the Asia-Pacific Ready-to-Drink Tea Market, followed by Australia, China, and India, because of its large population and exponential growth of tea consumption, represents a huge potential market. The region is expected to witness to high growth rate during the forecast period. The increased RTD tea consumption in China is largely owed to convenience and a malleable flavor profile. The rising disposable incomes in India increases the demand for convenience food, such as RTD tea. The Indian RTD tea market is majorly driven by strong demand from younger consumers amidst thriving café culture. Moreover, extensive marketing and use of locally sourced products are essential in countering this perception.

Competitive Landscape

The key strategies adopted by the players in the market are expansions, innovations, and new product launches. For instance, Unilever is strengthening its presence with more products innovations such as machine compatible tea capsules. Some of the major key players in the asia pacific ready to drink tea market are Unilever, Nestle, Lotte Chilsung Beverage Co, ADM (WILD Flavors and Specialty Ingredients), Lotte Chilsung Beverage Co, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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