Ready-to-Drink (RTD) Tea - Americas

The Ready-to-Drink (RTD) Tea market in Americas is experiencing significant growth due to changing customer preferences and emerging trends in the market.

Customer preferences: Customers in the Americas are increasingly seeking healthier beverage options, which has led to a rise in demand for ready-to-drink tea. RTD tea is perceived as a healthier alternative to carbonated soft drinks and other sugary beverages, as it is often made from natural ingredients and contains less sugar. Additionally, the convenience factor of RTD tea appeals to busy consumers who are looking for on-the-go options.

Trends in the market: One of the key trends in the RTD tea market in the Americas is the growing popularity of flavored and functional teas. Consumers are looking for unique and innovative flavors, such as fruit-infused teas and herbal blends. Additionally, there is a demand for teas that offer health benefits, such as antioxidant properties or stress relief. This has led to the introduction of a wide variety of RTD tea options in the market. Another trend in the market is the increasing availability of premium and organic RTD teas. Consumers are willing to pay a premium for high-quality teas that are sourced from sustainable and organic farms. This trend is driven by the growing awareness of the environmental impact of food production and the desire for products that align with personal values.

Local special circumstances: The RTD tea market in the Americas is highly competitive, with both local and international brands vying for market share. Local brands often have an advantage in terms of understanding local tastes and preferences, while international brands bring their global expertise and established brand recognition. This competition has led to a wide range of RTD tea options available to consumers in the Americas.

Underlying macroeconomic factors: The growing middle class in the Americas has contributed to the increasing demand for RTD tea. As disposable incomes rise, consumers are able to spend more on premium and healthier beverage options. Additionally, the increasing urbanization in the region has led to a greater need for convenient and on-the-go products, further driving the demand for RTD tea. In conclusion, the Ready-to-Drink (RTD) Tea market in Americas is witnessing growth due to changing customer preferences towards healthier beverage options and emerging trends in the market. The demand for flavored and functional teas, as well as premium and organic options, is driving the market forward. The competitive landscape and underlying macroeconomic factors such as the growing middle class and urbanization are also contributing to the growth of the RTD tea market in the Americas.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.