The Latin America Ready to Drink Tea Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 3.8% during the forecast period, 2023 – 2031. Growth of the market is attributed to increasing working population, changing lifestyle, and increasing focus on functional drinks.
Ready-to-drink teas that can be enjoyed cold are popular now days. People consume them as refreshing drinks with a wellness factor that can be prepared easily anywhere without needing to be brewed. They provide refreshment same as standard soft and carbonate drinks, combined with the wellness character of tea and taste. The herbal tea, black tea, and green tea, all varieties contain only natural ingredients and are low in calorie with lots of health benefits.
The Covid-19 pandemic affected the demand and supply of Latin America ready to drink tea market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing awareness regarding catastrophic effect of carbonized drinks on health is projected to boost the market.
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The health benefits of tea over soft drinks are the major factor fueling the market.
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High cost of product is anticipated to restrict market growth during the forecast period.
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Lack of awareness about the products possesses a main challenge that can hamper the market expansion in the coming years.
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R&D investment and technological advancement in ready to drink tea market is projected to offer lucrative opportunities for the market players.
Scope of Latin America Ready to Drink Tea Market Report
The report on the Latin America 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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Latin America Ready to Drink Tea Market –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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Types [Herbal Tea, Black Tea, Green Tea, and Others], Distribution Channels [Mass Merchandiser, Supermarket/Hypermarket, Convenience Store, and Others]
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Regional Scope
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Latin America [Brazil, Argentina, and Rest of Latin America]
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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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Dr Pepper Snapple Group, The Coca-Cola Company, Arizona, Unilever NV, Starbucks Corporation, Tata Global Beverages, Nestle SA, Harney & Sons Fine Teas, The Republic of Tea, Monster Beverages, Ito En, Ltd., and PepsiCo, Inc.
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Latin America Ready to Drink Tea Market Segment Insights
The green tea segment accounts for key share of the market
Based on types, the Latin America ready to drink tea market is segregated into herbal tea, black tea, green tea, and others. The black tea segment accounts for a key share of the market. Growth of the market is attributed to increasing demand for ready to eat beverages and increase in consumer’s disposable income.
However, the herbal tea segment is anticipated to expand at a rapid pace during the forecast period due to increasing awareness regarding catastrophic effect of carbonated drinks, customers changing behaviour, and growing concern over obesity.
The supermarket/hypermarket segment accounts for significant share of the market
On the basis of distribution channels, the Latin America ready to drink tea market is fragmented into mass merchandiser, supermarket/hypermarket, convenience store, online stores, and others. The supermarket/hypermarket segment accounts for a significant share of the market. Growth of the market is attributed to increasing expenditure capacities and rising demand for bottled and canned packing beverages.
However, the online stores segment is anticipated to expand at a rapid pace during the forecast period due to convenience and a healthy alternative to other ready to drink beverages and launch of new flavored tea.
The market in Brazil is estimated to hold major market share during the forecast period
On the basis of geography, the North America ready to drink tea market is categorized as Brazil, Argentina, and Rest of Latin America. The market in Brazil is estimated to hold a major market share during the forecast period due to factors such as rising adaption of healthy lifestyles and increasing number of online and offline retail stores.
The market in Argentina experience rising need of ready to drink tea due to factors like increasing consumption of ready to drink tea, rising need for health-friendly products, and presence of large-scale local manufactures.
Segments
The Latin America ready to drink tea market has been segmented on the basis of
Types
- Herbal Tea
- Black Tea
- Green Tea
- Others
Distribution Channels
- Mass Merchandiser
- Supermarket/Hypermarket
- Convenience Store
- Online Stores
- Others
Regions
Key Players
- Dr Pepper Snapple Group
- The Coca-Cola Company
- Arizona
- Unilever NV
- Starbucks Corporation
- Tata Global Beverages
- Nestle SA
- Harney & Sons Fine Teas
- The Republic of Tea
- Monster Beverages
- Ito En, Ltd.
- PepsiCo, Inc.
Competitive Landscape
Key players competing in the South America ready to drink tea market include Dr Pepper Snapple Group, The Coca-Cola Company, Arizona, Unilever NV, Starbucks Corporation, Tata Global Beverages, Nestle SA, Harney & Sons Fine Teas, The Republic of Tea, Monster Beverages, Ito En, Ltd., and PepsiCo, Inc.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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