RTD Tea Market- Key Players —
Some of the key players in the global RTD tea market are
• Inko's Tea (US)
• Blu-Dot Beverage Company (Canada)
• Starbucks Corporation (US)
• Dilmah (Sri Lanka)
• Snapple Beverage Corp. (US)
• Coca-Cola Company (US)
• 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)
• Harney & Sons Fine Teas (US)
Some of the strategies followed by the players operating in the market were product launches, acquisitions, mergers, and expansions.
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RTD tea is packaged tea in its prepared beverage form and ready for consumption. The global RTD tea market accounted for approximately USD 21.30 billion in 2018 and is expected to register a CAGR of 5.7% during the forecast period. The RTD tea has gained popularity among the health-conscious population. Owing to the increasing per capita disposable incomes, busy lifestyles, and growing demand for on-the-go beverages, the global RTD tea market size is projected to grow significantly in the coming years. 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.
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.
The market in North America is expected to dominate the global RTD tea market owing to increasing consumption of healthy beverages in the region. In North America, the US is projected to hold the majority market share.
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.
Global RTD Tea Market Segmentation
The global RTD Tea Market has been segmented based on type, category, packaging, distribution channel, and region.
Based on type, the global RTD tea market has been segmented into black tea, green tea, white tea, and others. The black tea segment accounted for the largest global RTD tea market share in 2018. Its popularity as a traditional tea across the globe has resulted in the dominance of the segment over the past years. However, the green tea segment is projected to register the highest CAGR during the forecast period. Green tea is unoxidized and contains less caffeine than other types of tea. Moreover, it helps to regulate the metabolic rate and assists in weight loss which is driving its demand as a functional drink.
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.
The 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.
Based on distribution channel, the global RTD tea market has been categorized into store-based and non-store-based. The store-based segment has been further classified as supermarkets and hypermarkets, convenience stores, and others. In 2018, the store-based segment accounted for the larger share of the market. However, the non-store-based segment is projected to register the higher CAGR during the forecast period. Inclination of the key players toward e-commerce platforms for the distribution of their products and an increase in their reach is mainly driving the growth of the non-store-based segment.
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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.
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