Ready-to-Drink (RTD) Tea - Ireland

The Ready-to-Drink (RTD) Tea market in Ireland has been experiencing significant growth in recent years. Consumer preferences for healthier beverages and convenience are driving the demand for RTD tea products. Additionally, local special circumstances such as the popularity of tea in Irish culture and the growing trend of on-the-go consumption contribute to the market's development.

Customer preferences: In Ireland, there is a strong cultural preference for tea, making the RTD tea market a natural extension of this tradition. Consumers are increasingly seeking healthier alternatives to sugary carbonated drinks, and RTD tea provides a refreshing and lower-calorie option. The convenience factor also plays a role, as busy lifestyles and the desire for on-the-go consumption drive the demand for ready-to-drink beverages.

Trends in the market: One of the key trends in the RTD tea market in Ireland is the increasing popularity of flavored and functional teas. Consumers are looking for unique and innovative flavors, such as fruit-infused teas or herbal blends, which offer a refreshing and enjoyable drinking experience. Moreover, functional teas, such as those with added vitamins or antioxidants, are gaining traction among health-conscious consumers. Another trend in the market is the rise of premium and artisanal RTD tea brands. Consumers are willing to pay a premium for high-quality teas that are sourced sustainably and produced with care. This trend reflects the growing interest in artisanal products and the desire for a more elevated drinking experience.

Local special circumstances: Ireland's strong tea-drinking culture provides a favorable environment for the development of the RTD tea market. The tradition of tea consumption creates a familiarity and acceptance of tea-based beverages among Irish consumers. This cultural factor contributes to the market's growth and adoption of RTD tea products. Furthermore, the growing trend of on-the-go consumption in Ireland is driving the demand for convenient and portable beverages. RTD tea fits well into this lifestyle, offering a refreshing and easy-to-carry option for consumers who are constantly on the move.

Underlying macroeconomic factors: The growing RTD tea market in Ireland is also influenced by underlying macroeconomic factors. The country's stable economy and rising disposable incomes have allowed consumers to prioritize health and wellness in their purchasing decisions. As a result, there is a greater willingness to spend on premium and healthier beverage options, including RTD tea. Moreover, the increasing focus on sustainability and environmental consciousness is shaping consumer preferences in Ireland. RTD tea brands that prioritize eco-friendly packaging and sustainable sourcing are likely to resonate with consumers who are becoming more conscious of their environmental impact. In conclusion, the Ready-to-Drink (RTD) Tea market in Ireland is experiencing growth due to customer preferences for healthier and convenient beverages, the strong tea-drinking culture, the trend of on-the-go consumption, and underlying macroeconomic factors such as rising disposable incomes and environmental consciousness. The market is characterized by the demand for flavored and functional teas, as well as the rise of premium and artisanal brands.

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.