Ready to Drink Tea and Coffee Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis

Ready to Drink Tea and Coffee Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis

Global Ready to Drink Tea and Coffee Market will reach US$ 153.19 Billion by 2027. In recent times, Ready-to-drink (RTD) coffee and tea are seeing mounting demand owing to consumers' busy and fast-paced lifestyle and as an option to carbonated drinks. RTD tea is considered a refreshing health drink. At the same time, RTD coffee is considered a reference providing instant energy. The changing lifestyles that encourage on-the-go eating and a growing trend to replace meals with less nutritious snacks have led to a rise in global RTD tea and coffee adoption.

Worldwide Ready to Drink Tea and Coffee Market Size was US$ 100.10 Billion in 2021

Likewise, the fierce trend of chronic health problems is creating a staggering volume of demand for ready-to-drink tea & coffee as they contain antioxidants & other essential ingredients. RTD coffees and tea can also be customized to provide personalized health benefits to the consumers to fulfill the nutritional gaps, especially in children and women. Correspondingly, the youth across various developed and developing nations are moving to RTD beverages in place of synthetic sports drinks for an instant increase of energy.

Ready to Drink Tea segment accounted for a substantial share of the Global Tea and Coffee Market

Based on product category, the market is bifurcated into ready-to-drink tea and ready-to-drink coffee. RTD tea was the fastest-growing segment. This is attributed due to the availability of the most suitable tea flavors: fruit, black, green, herbal, matcha, oolong, and iced, with added nutritional benefits like essential vitamins and minerals and a rich source of antioxidants. For instance, RTD green tea is perfumed with catechin. On the other hand, RTD coffee includes yerba mate, guarana, acai berry, ginseng, taurine, and iced variants, and black coffee is enriched with vitamin B, potassium, magnesium, polyphenols, and caffeine.

PET Bottle Segment is anticipated to hold the Largest Share

On the basis of packaging, the RTD tea and coffee market is segmented by packaging into a glass bottle, PET bottle, canned, and others. The PET bottle segment is anticipated to hold the largest share in the global RTD tea and coffee industry. As PET receptacles are recyclable, these tend to be in increased demand amongst the liquid manufacturers in the beverage packaging industry.

Additionally, distribution channels such as Supermarket/Hypermarket, Specialty Stores, Online Store, and others control ready-to-drink coffee and tea distribution space. With the rapid increase in the demand, Supermarket/Hypermarket, Specialty Stores are now selling high-quality coffee and tea at affordable prices; this has appealed to the busy consumers by effectively responding to their lifestyles.

North America is the Fastest-Growing Ready to Drink Tea Coffee Market

Geographically, North America is the fastest-growing ready-to-drink tea coffee market due to growing consumer awareness about the ill effects of carbonated beverages. Further, the RTD tea and Coffee industry growth in North America is driven by Canada and the United States countries, owing to the rising demand for these products. The overall industry in the U.S is growing on account of increasing health awareness in the country. According to Renub Research, the Global Ready to Drink Tea and Coffee Market is expected to expand at a CAGR of 7.3% from 2021-2027.

COVID-19 Impact:

As a result of the COVID-19, the global ready-to-drink tea and coffee market grew. Nations have imposed measures, like social distancing and lockdowns, which particularly impacted restaurants, cafés, tea micro-roasters, and other out-of-home outlets. Nevertheless, the current trend toward online shopping for at-home consumption is causing retailers, roasters, and consumers to adapt to this new reality. Thus, this factor enhances the consumption of RTD coffee and tea worldwide. Therefore, the demand for RTD tea and coffee has risen in 2020, which has resulted in improved RTD tea and Coffee sales in the retail sector.

Players in the Global Ready-to-drink (RTD) Tea and Coffee Industry

The key players in the global Ready-to-drink tea and coffee market include 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.

Renub Research report titled “Ready to Drink Tea and Coffee Market, Global Forecast by Product Category (RTD Tea, RTD Coffee), Packaging (PET Bottle, Glass Bottle, Canned, Others), Distribution Channels (Supermarket/Hypermarket, Specialty Stores, Online Store and Others), Region (North America, Europe, Asia Pacific, Middle East & Africa, South America), Company Analysis (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)"" Provides a detailed analysis of Global Ready to Drink Tea and Coffee Market

Product Category has been covered from 2 viewpoints

1. RTD Tea
2. RTD Coffee

Packaging has been covered from 4 viewpoints

1. PET Bottle
2. Glass Bottle
3. Canned
4. Others

Distribution Channels has been covered from 4 viewpoints

1. Supermarket/Hypermarket
2. Specialty Stores
3. Online Store
4. Others

Regions has been covered from 5 viewpoints

1. North America
2. Europe
3. Asia Pacific
4. Middle East & Africa
5. South America

All the companies have been studied from 3 points

1. Business Overview
2. Recent Developments
3. Sales Analysis

Company Analysis

1. Suntory Holdings Ltd
2. Nestle SA
3. Asahi Group Holdings Ltd
4. Uni-President Enterprises
5. PepsiCo Inc
6. The Coca-Cola Company
7. Starbucks Corporation
8. Monster Beverage Company
9. Danone
10. Unilever