Published Date : Jun 09, 2016
The rising health consciousness worldwide and the changing lifestyle have been steering the global ready-to-drink tea and coffee market. The market is also expected to gain momentum as tea emerges as the new staple in the beverages market.
According to a report published by the Tea Association of the U.S., tea has emerged as the second-most highly consumed beverage in the world. The tea industry has therefore significantly gained from the proliferation of non-retail outlets such as warehouse club, mass merchandise, drug store, convenience store, and gas marts. The iced tea segment in the ready to drink tea market has exhibited exceptional growth in the last few years. The introduction of functional beverages is also giving significant impetus to the market. The global ready-to-drink tea and coffee will also considerably gain from rapid urbanization.
Market Witnesses Lucrative Opportunities in Emerging Regions
The market has been witnessing lucrative prospects in Central and South America and Asia Pacific. Since consumers nowadays have become more informed about the health benefits offered by the antioxidant properties of tea, their demand is expected to surge at an impressive rate. This has in turn led to the paradigm shift in consumer preference from carbonate drinks to healthier beverages such as coffee and tea. The demand for the global ready-to-drink market is therefore expected to increase at a significant pace in the near future.
Spread of Café Culture to Benefit Market
Besides this, the spread of café culture has also proven quite beneficial for the market, attracting urban youth increasingly to ready-to-drink tea and coffee. Further, the leading vendors in the market are also encouraged by the success of coffee chains hence they are diversifying their product and marketing strategies. This has been boosting the global ready-to-drink tea market significantly.
Coca-Cola Co. and PepsiCo. Inc. clearly are the two of the most prominent players in the global ready to drink tea and coffee market. These companies collectivity hold a significant share in the market owing to their partnership with Unilever. Like these companies other major vendors in the market are also focusing on mergers and partnerships to gain edge over their peers.