Ready-to-Drink (RTD) Tea - Brunei Darussalam

The Ready-to-Drink (RTD) Tea market in Brunei Darussalam has been experiencing significant growth in recent years.

Customer preferences: Bruneians have shown a growing preference for convenient and healthy beverage options, which has contributed to the rise in popularity of RTD tea. With busy lifestyles and increasing health consciousness, consumers are seeking beverages that offer both convenience and nutritional benefits. RTD tea fits this criteria as it is ready to consume and often marketed as a healthier alternative to carbonated soft drinks.

Trends in the market: One of the key trends in the RTD tea market in Brunei Darussalam is the introduction of innovative flavors and variations. Manufacturers are constantly launching new products with unique and exotic flavors to cater to the diverse tastes of consumers. This trend has been well-received by Bruneians, who are increasingly open to trying new and different flavors of RTD tea. Additionally, there has been a shift towards natural and organic ingredients in RTD tea products, as consumers are becoming more conscious about the quality and origin of the ingredients they consume.

Local special circumstances: The hot and humid climate in Brunei Darussalam makes RTD tea a popular choice among consumers, as it provides a refreshing and cooling effect. The convenience of RTD tea also appeals to Bruneians, who often lead busy lifestyles and are constantly on the go. The small size of the country and its relatively affluent population also contribute to the growth of the RTD tea market, as consumers have the disposable income to spend on convenient and premium beverage options.

Underlying macroeconomic factors: The growing economy of Brunei Darussalam has led to an increase in disposable income, allowing consumers to spend more on non-essential items such as RTD tea. This rise in purchasing power has fueled the demand for premium and higher-priced RTD tea products. Additionally, the government's efforts to promote a healthy lifestyle and reduce the consumption of sugary beverages have also played a role in the growth of the RTD tea market. The implementation of taxes on sugary drinks has further incentivized consumers to choose healthier alternatives such as RTD tea. In conclusion, the Ready-to-Drink (RTD) Tea market in Brunei Darussalam is experiencing growth due to customer preferences for convenient and healthy beverage options, the introduction of innovative flavors and variations, the local special circumstances of the climate and lifestyle, and underlying macroeconomic factors such as the growing economy and government initiatives.

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.