“Ready to drink” (RTD) refers to packaged beverages that are ready for consumption by individuals and available in various retail stores off-the-shelf. Ready-to-drink beverages can be immediately consumed upon purchase, unlike that of traditional beverage mixes, powders, or brew-it-yourself tea or coffee products. Bottled or canned ice tea, coffee, smoothies, energy drinks, and alcopops (ready-made alcohol cocktails) are some examples of RTD beverages. Ready to drink tea and coffee products, along with alcopops are the most widely consumed ready to drink beverage products in the market.
Continuously changing lifestyle, increasing disposable income, and rising demand for healthier alternatives to carbonated drinks are key factors driving growth of the global ready to drink tea and coffee market. In addition, increasing consumer preference for ready to drink (RTD) beverages, especially RTD iced tea being perceived as a healthier beverage among the general population, and ready to drink coffee considered as an energy booster drink. This is a major factor expected to boost demand for RTD tea and coffee market over the forecast period.
Lack of appropriate infrastructure in developing economies for storage and sale of ready to drink beverage products is a key factor expected to restrain growth of the global ready to drink tea and coffee market. Additionally, fluctuating costs of raw materials, coupled with problems related to consumption of ready to drink beverage products are other factors anticipated to hamper growth of the global ready to drink tea and coffee market over the forecast period.
The global ready to drink tea and coffee market report has been segmented on the basis of additives, packaging, price, distribution channel, and region. On the basis of region, the global ready to drink tea and coffee market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in Asia Pacific dominates the global ready to drink tea and coffee market in revenue terms owing to high adoption of ready to drink tea and coffee products, changing lifestyle, and high disposable income in countries in the region. The market in North America accounted for second-highest revenue share in the global ready to drink tea and coffee market, due to rising demand for ready to drink tea and coffee products, and high disposable income, followed by markets in Europe, Latin America, and Middle East & Africa respectively. The markets in Europe and Latin America are also projected to show significant growth over the forecast period.
Prominent players in the global ready to drink tea and coffee market include PepsiCo Inc., The Coca-Cola Company, Suntory Holdings Ltd., Nestle S.A., Ting Hsin International Group, Sapparo Beverage Co. Ltd., Unilever NV, Uni-President Enterprises, Starbucks Corporation, and Arizona Beverage Company.