Ready-to-Drink (RTD) Tea - Laos

The Ready-to-Drink (RTD) Tea market in Laos has been experiencing significant growth in recent years. Customer preferences, market trends, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in Laos have shifted towards healthier beverage options, which has led to an increased demand for RTD tea. Consumers are becoming more health-conscious and are actively seeking out products that offer natural ingredients and functional benefits. RTD tea, with its antioxidant properties and potential health benefits, has emerged as a popular choice among the health-conscious population in Laos. Trends in the RTD tea market in Laos reflect global and regional market trends. The growing popularity of RTD tea can be attributed to its convenience and ready availability. Busy lifestyles and the desire for on-the-go refreshments have driven the demand for RTD tea. Additionally, the increasing influence of Western culture and the rising popularity of tea as a beverage globally have also contributed to the growth of the RTD tea market in Laos. Local special circumstances in Laos have also played a role in the development of the RTD tea market. The country's tropical climate makes it an ideal market for refreshing and thirst-quenching beverages like RTD tea. The availability of locally grown tea leaves and the rich tea culture in Laos have further fueled the demand for RTD tea. Underlying macroeconomic factors have also contributed to the growth of the RTD tea market in Laos. The country's improving economy and rising disposable incomes have increased consumer spending power, enabling more people to afford RTD tea as a regular beverage choice. Furthermore, the expanding retail sector and the increasing presence of international beverage brands in Laos have made RTD tea more accessible to a wider consumer base. In conclusion, the Ready-to-Drink (RTD) Tea market in Laos has witnessed significant growth due to shifting customer preferences towards healthier options, global and regional market trends, local special circumstances, and underlying macroeconomic factors. The convenience, health benefits, and availability of RTD tea have made it a popular choice among consumers in Laos. As the market continues to evolve, it is expected that the demand for RTD tea in Laos will continue to grow.

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.