Ready-to-Drink (RTD) Tea - Equatorial Guinea

Equatorial Guinea

Highlights

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Ready-to-Drink (RTD) Tea market amounts to US$1.40m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$66.78k in 2024.
Revenue, combined amounts to US$1.47m in 2024.
The revenue, at home is expected to grow annually by 1.96% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$24bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$0.80 are generated in 2024.
In the Ready-to-Drink (RTD) Tea market, volume, at home is expected to amount to 389.20k L by 2024.
Volume, out-of-home is expected to amount to 8.63k L in 2024.
Volume, combined is expected to amount to 397.80k L in 2024.
The Ready-to-Drink (RTD) Tea market is expected to show a volume growth, at home of 0.4% in 2025.0.
The average volume per person, at home in the Ready-to-Drink (RTD) Tea market is expected to amount to 0.22L in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Ready-to-Drink (RTD) Tea market in Equatorial Guinea is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory. Customer preferences in Equatorial Guinea are shifting towards healthier beverage options. As consumers become more health-conscious, they are seeking out alternatives to sugary carbonated drinks. Ready-to-Drink (RTD) Tea offers a refreshing and healthier option, as it is often made with natural ingredients and contains lower levels of sugar compared to traditional soft drinks. Additionally, the convenience of RTD Tea appeals to busy consumers who are looking for on-the-go options. Trends in the market are also driving the growth of the RTD Tea industry in Equatorial Guinea. The global trend of increasing urbanization is mirrored in Equatorial Guinea, with more people living in cities and leading fast-paced lifestyles. This has created a demand for convenient and portable beverages, making RTD Tea an attractive option. Furthermore, the rising popularity of tea as a beverage of choice is also contributing to the growth of the market. Tea has long been associated with health benefits and is often seen as a more sophisticated and refined choice compared to other beverages. Local special circumstances in Equatorial Guinea are also playing a role in the development of the RTD Tea market. The country's warm climate makes it an ideal market for refreshing and thirst-quenching beverages like RTD Tea. Additionally, the cultural preference for tea in Equatorial Guinea, influenced by neighboring countries, further contributes to the demand for RTD Tea. The availability of locally sourced tea leaves also supports the growth of the market, as it allows for the production of high-quality and authentic RTD Tea products. Underlying macroeconomic factors are also driving the growth of the RTD Tea market in Equatorial Guinea. The country's stable economic growth and increasing disposable income levels have led to a rise in consumer spending. As consumers have more purchasing power, they are able to afford higher-priced beverages such as RTD Tea. Additionally, the growing middle class in Equatorial Guinea is more likely to prioritize health and wellness, further driving the demand for RTD Tea. In conclusion, the Ready-to-Drink (RTD) Tea market in Equatorial Guinea is experiencing growth and development due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As consumers prioritize health and convenience, RTD Tea offers an appealing option. The country's warm climate, cultural preference for tea, and availability of locally sourced ingredients further contribute to the growth of the market. With stable economic growth and increasing disposable income levels, Equatorial Guinea presents a favorable environment for the RTD Tea industry to thrive.

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.