Asia Pacific Ready to Drink Tea Market Outlook 2031:
The Asia Pacific ready to drink tea market size was valued at USD 4.78 Billion in 2022 and is projected to reach USD 7.89 Billion by 2031, expanding at a CAGR of 5.73% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing penetration of ready-to-drink tea products in supermarkets and hypermarkets.
Tea is a herbal drink that is commonly consumed around the world. Several types of tea are present in the world, and are available in varied flavors such as sweet, nutty, spices, and ginger, among others.
Ready-to-drink (RTD) beverages are packaged drinks, which include both alcoholic and non-alcoholic beverages. Alcohol-based RTDs, often known as flavored alcoholic beverages, can be consumed on their own or mixed into cocktails and alcohol. Tea-flavored RTDs are promoted as iced tea and herbal tea. Young population in several nations consume both alcohol-based and tea-flavored RTDs.
Asia Pacific Ready to Drink Tea Market Trends, Drivers, Restraints and Opportunities
- Changing lifestyle, rising demand for natural components, and growing healthcare awareness are some of the major trends driving the expansion of the ready-to-drink tea industry.
- High cost of RTD tea can create challenges for the market growth.
- Growing concerns regarding high sugar intake can restraint the growth of the market.
- Rising trend of social media marketing is anticipated to create lucrative opportunities for industry players in the projected timeline.
Scope of the Asia Pacific Ready to Drink Tea Market Report
The report on the Asia Pacific ready to drink tea market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Asia Pacific Ready to Drink Tea Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Green Tea, Black Tea, and, Others) and Distribution Channels (Convenience Stores, Online Stores, Supermarkets/Hypermarkets, Specialist Stores, and Others)
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Geographical Scope
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India, Japan, China, Australia, and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Keuring Dr Pepper Inc.; Lotte Chilsung Beversage Co; Nestle; Asahi Group Holdings Ltd; Unilever plc., and Others
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Asia Pacific Ready to Drink Market insights
Green tea segment is projected to expand at a considerable CAGR
On the basis of product type, the market is segregated into green tea, black tea, and others. The green tea segment is projected to expand at a considerable CAGR during the forecast period High demand for green tea due to its anti-oxidant and anti-bacterial properties, which cure hormonal imbalances and help to regulate weight.
On the other hand, the black tea segment is anticipated to account for a major market share during the forecast period. Black tea sales are rising steadily with a growing number of younger and health-conscious customers.
Supermarkets/hypermarkets segment is expected to grow at a rapid pace
Based on Distribution Channels, the market is divided into convenience stores, online stores, supermarkets/hypermarkets, specialist stores, and others. The supermarkets segment is expected to grow at a rapid pace during the forecast period.
The growth in demographic spending and ease and convenience of shopping are projected to provide a strong foundation for RTD tea producers to participate, particularly in emerging nations where these stores are being established in huge numbers.
India is anticipated to constitute a key market share
In terms of regions, the Asia-Pacific ready to drink tea market is categorized as India, Japan, China, Australia, and Rest of Asia Pacific. India is expected to constitute a key share of the market during the projected period.
The Indian RTD tea market is primarily driven by significant demand from millennials, who are surrounded by a vibrant coffee culture. However, Japan is anticipated to expand at a rapid pace during the forecast period. Japan is estimated to dominate the Asia Pacific ready to drink market, followed by Australia, China, and India, due to growing population and rising consumption of RTD products.
Segments
The Asia Pacific ready to drink market has been segmented on the basis of
Product Types
- Green Tea
- Black Tea
- Others
Distribution Channels
- Convenience Stores
- Online Stores
- Supermarkets/Hypermarkets
- Specialist Stores
- Others
Geography
- India
- Japan
- China
- Australia
- Rest of Asia-Pacific
Key Players
Competitive Landscape
The market is very competitive in nature owing to the presence of many major players. Some of the major players competing in the Asia-Pacific ready to drink market are Keuring Dr Pepper Inc.; Lotte Chilsung Beversage Co; Nestle; Asahi Group Holdings Ltd; Unilever plc., and others.
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