Oct 24, 2021 (AmericaNewsHour) -- Research Nester published a report titled " Ready to Drink (RTD) Tea and Coffee Market : Global Demand Analysis & Opportunity Outlook 2029" which delivers detailed overview of the global ready to drink (RTD) tea and coffee market in terms of market segmentation by product type, packaging, distribution channel, additives and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The RTD tea and coffee market is segmented by packaging into glass bottle, PET bottle, canned and others, out of which the PET bottle segment occupies the largest share in the market, and is estimated to continue this trend till the end of 2029. This can be accounted to the significantly low production cost and ease of handling of PET bottles. Moreover, owing to the improved recyclability and reusability of these plastic bottles, they tend to be widely used in the food industry, therefore leading to an increase in demand.
The global RTD tea and coffee market is projected to grow with a significant CAGR during the forecast period, i.e., 2021-2029, on the back of growing consumer consciousness regarding the health implications of carbonated drinks and shifting dietary preferences. Furthermore, innovative marketing and branding strategies of beverage manufacturers are also assessed to provide ample growth opportunities to the market in the near future.
Geographically, the global RTD tea and coffee market is segmented into five major regions North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which the market in the Asia Pacific is expected to witness a significant CAGR during the forecast period. This growth can be attributed to the rising health awareness of the people, and the presence of a large number of coffee and tea plantations in the region. Moreover, growing tea production in nations such as India and China, where India recorded tea production of over 1300 M.Kgs during the financial year 2019-2020, is also anticipated to contribute to the market growth in the region.
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Rising Consciousness for Good Health and Wellbeing, Along with the Shifting Dietary Preferences of Individuals
Owing to the health benefits associated with tea and coffee, such as high antioxidant properties that help to control various diseases, these beverages are expected to be widely consumed by health-conscious consumers, especially young adults, on a global level. Significant lifestyle changes as a result of urbanization, is also anticipated to contribute to the increase in the use of these products, which in turn provide an impetus to the growth of the market.
However, higher production cost of RTD beverages than tea leaves and ground coffee, and the differentiating prices of raw materials are expected to operate as key restraints to the growth of the RTD tea and coffee market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global ready to drink (RTD) tea and coffee market which includes company profiling of Nestle S.A. (swx:NESN), The Coca Cola Company /zigman2/quotes/209159848/composite KO -3.16% , PepsiCo Inc. /zigman2/quotes/208744353/composite PEP -2.66% , AriZona Beverages USA LLC, Suntory Beverage & Food Limited (tyo:2587), Uni-President Enterprises Corp. (tpe:1216), Asahi Group Holdings, Ltd. (tyo:2502), Sapporo Holdings Ltd. (tyo:2501), Danone S.A. (epa:BN), and Starbucks Corporation /zigman2/quotes/207508890/composite SBUX -0.98% . The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ready to drink (RTD) tea and coffee market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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