Ready-to-Drink (RTD) Tea - Guatemala

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

Customer preferences: Guatemalan consumers have shown a growing preference for healthier beverage options, which has contributed to the increasing demand for RTD tea. As more people become health-conscious and seek alternatives to sugary carbonated drinks, RTD tea offers a refreshing and healthier option. Additionally, the convenience factor of RTD tea appeals to busy consumers who are looking for on-the-go beverage options.

Trends in the market: One of the key trends in the RTD tea market in Guatemala is the introduction of innovative flavors and blends. Manufacturers are constantly exploring new flavor combinations to cater to the diverse tastes of consumers. This trend not only provides consumers with a wider variety of options but also helps to differentiate brands in a competitive market. Another trend in the market is the increasing availability of organic and natural RTD tea products. With the growing awareness of the importance of organic and natural ingredients, consumers are seeking products that align with their health and environmental values. This has led to the emergence of organic and natural RTD tea brands in the market, offering consumers a healthier and more sustainable choice.

Local special circumstances: Guatemala is known for its rich coffee culture, but there is also a long-standing tradition of drinking tea in the country. This cultural background has laid the foundation for the acceptance and growth of the RTD tea market. Consumers in Guatemala are already familiar with tea as a beverage, which has facilitated the adoption of RTD tea products.

Underlying macroeconomic factors: The growing middle class and increasing disposable incomes in Guatemala have played a significant role in driving the growth of the RTD tea market. As consumers have more purchasing power, they are able to afford premium and higher-priced RTD tea products. This has led to an expansion of the market, with both local and international brands capitalizing on the growing demand. Furthermore, the rising urbanization and changing lifestyles in Guatemala have contributed to the popularity of RTD tea. As more people move to cities and lead busier lives, they are seeking convenient and on-the-go beverage options. RTD tea provides a ready-to-consume solution that fits well with the fast-paced lifestyles of urban consumers. In conclusion, the Ready-to-Drink (RTD) Tea market in Guatemala is experiencing growth due to the increasing preference for healthier beverage options, the introduction of innovative flavors, the availability of organic and natural products, the cultural acceptance of tea, and the underlying macroeconomic factors of a growing middle class and changing lifestyles.

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.