The Global Ready To Drink (RTD) Tea Coffee Market is expected to reach 117,685.71 USD Million by 2028, growing at a CAGR of 5.20% from 2022 to 2028. The increasing popularity of ready-to-drink beverages along with rising awareness about the consumption among consumers is anticipated to augment the growth of the market during the forecast period.
- The RTD coffee segment held a significant share in 2021. This is attributable to the increasing introduction of new flavors and the high demand for drinks containing caffeine. Further, the rise in demand for cold coffee concentrates is also expected to support the segmental growth of the market.
- The PET bottle segment is projected to grow at a considerable CAGR during the forecast period. This is attributable to the low cost needed for manufacturing along with the ease of handling capability. Further, it even has the ability to mold in various shapes and is available in different colors due to which most of the manufacturers are adopting this type of packing.
- The supermarkets/hypermarkets segment held a significant share in 2021. This is owing to the presence of a large number of supermarket chains and changing retail landscape.
- Asia Pacific is expected to grow at the fastest CAGR during the forecast period. China accounted for the largest share in APAC in 2021. This is attributable to the rise in demand for the product in the region owing to the growing urbanization in economies such as China and India. Furthermore, the increasingly health-conscious population is also anticipated to support the regional growth of the market.
Some of the key players in the Ready To Drink (RTD) Tea Coffee market include Starbucks Corporation, Asahi Group Holdings Ltd., The Coca-Cola Company, Pepsico Inc., Monster Beverage Company, San Benedetto, Hangzhou Wahaha group, Ferolito Vultaggio and Sons, Pepper Snapple Group, Taisun Enterprise Co. Ltd., and Japan Tobacco Inc.,.
The increasing popularity of ready-to-drink beverages is anticipated to augment the growth of the Ready To Drink (RTD) Tea Coffee market in the years to come. This is attributable to the changing lifestyles, increasing spending power along with shift in preferences of consumers due to an increase in the number of working people, hectic schedules, and higher out of home consumption. Further, the shift in consumers for products that require a minimum time to prepare and consumed on the go along with attractive packaging is also aided to increase their overall demand. Additionally, the increase in awareness regarding the adverse effects of consumption of carbonated drinks along with increased health consciousness among consumers is also supporting the market growth.
However, the fluctuating prices of raw materials and higher production costs of RTD beverages are expected to hamper the growth of the market in the years to come. Moreover, an increase in trends of marketing, smart advertising, rising functionalities along the rising e-commerce industry is expected to create immense opportunities for the growth of the market within the forecast period.
Asia Pacific held the largest shares in 2021. The US held the largest share in North America for the Ready To Drink (RTD) Tea Coffee market. This is attributable to the increasing demand for these products in the region. Furthermore, the introduction of new flavors to capture a greater market in the region is also expected to fuel the regional growth of the market. Additionally, increasing expenditure on quality products and increasing demand for instant energy drinks by consumers in the region is also expected to support the growth of the Ready To Drink (RTD) Tea Coffee market in the region.