Ready-to-Drink (RTD) Tea - Ivory Coast

The Ready-to-Drink (RTD) Tea market in Ivory Coast is experiencing significant growth and development.

Customer preferences: Ivory Coast has a long-standing tradition of tea consumption, with tea being a popular beverage choice among the population. The convenience and ready-to-drink nature of RTD tea products have gained traction among consumers, especially those with busy lifestyles who are looking for quick and refreshing beverage options. Additionally, the health-conscious trend among consumers has led to an increased demand for healthier beverage alternatives, and RTD tea, often made with natural ingredients and without artificial additives, fits this requirement.

Trends in the market: One of the key trends in the RTD tea market in Ivory Coast is the introduction of innovative flavors and blends. Manufacturers are constantly launching new and unique flavors to cater to the diverse taste preferences of consumers. This trend has been well-received by consumers, who are increasingly seeking variety and novelty in their beverage choices. Additionally, there is a growing demand for organic and herbal RTD tea products, as consumers become more aware of the health benefits associated with these options. Another trend in the market is the increasing availability and accessibility of RTD tea products. Manufacturers are expanding their distribution networks and making their products more readily available in supermarkets, convenience stores, and online platforms. This has made it easier for consumers to purchase RTD tea products and has contributed to the market's growth.

Local special circumstances: Ivory Coast is known for its hot and humid climate, which makes RTD tea a popular choice among consumers as a refreshing and thirst-quenching beverage. The cultural significance of tea in Ivory Coast also plays a role in the market's development, as tea is often consumed during social gatherings and celebrations. Additionally, the country's growing urban population and increasing disposable income levels have contributed to the rising demand for convenient and on-the-go beverage options like RTD tea.

Underlying macroeconomic factors: The economic growth and stability in Ivory Coast have created a favorable environment for the development of the RTD tea market. As the country's economy continues to grow, consumers have more disposable income to spend on discretionary items like RTD tea. Furthermore, the increasing urbanization and modernization of Ivory Coast have led to lifestyle changes, with consumers seeking convenient and ready-to-consume products like RTD tea. The government's efforts to promote foreign investment and improve the business environment have also attracted international tea brands to enter the market, further driving its growth.

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.