Ready-to-Drink (RTD) Tea - Mongolia

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

Customer preferences: Mongolian consumers have shown a growing preference for convenience and healthier beverage options, which has contributed to the increasing popularity of RTD tea. The busy lifestyles of urban consumers, coupled with the desire for on-the-go refreshments, have made RTD tea an attractive choice. Additionally, the health-conscious trend among consumers has led to a shift away from sugary carbonated drinks towards healthier alternatives like RTD tea.

Trends in the market: One of the key trends in the RTD tea market in Mongolia is the introduction of innovative flavors and functional ingredients. Manufacturers are constantly launching new products with unique flavors and added health benefits to cater to the evolving tastes and preferences of consumers. This trend has helped to drive the growth of the market, as consumers are always looking for new and exciting options. Another trend in the market is the increasing popularity of premium and organic RTD tea products. As consumers become more discerning about the quality and origin of their food and beverages, there has been a growing demand for premium and organic products. This trend is seen in the RTD tea market as well, with consumers willing to pay a premium for products that are perceived to be of higher quality and made with natural ingredients.

Local special circumstances: Mongolia's unique geography and climate present some special circumstances for the RTD tea market. The country has a cold climate for most of the year, which means that hot beverages like tea are traditionally more popular. However, the convenience and portability of RTD tea have made it a popular choice even in colder weather. Additionally, Mongolia has a nomadic culture, with many people living in remote areas where access to fresh tea leaves may be limited. RTD tea provides a convenient and accessible alternative for these consumers.

Underlying macroeconomic factors: The growing middle class in Mongolia, along with increasing disposable incomes, has contributed to the growth of the RTD tea market. As consumers have more purchasing power, they are able to afford premium and healthier beverage options like RTD tea. Additionally, the urbanization trend in Mongolia has led to a shift in consumer preferences towards more convenient and on-the-go products, further driving the demand for RTD tea. In conclusion, the Ready-to-Drink (RTD) Tea market in Mongolia has experienced significant growth due to changing customer preferences, including a desire for convenience and healthier options. The introduction of innovative flavors and premium products has also contributed to the market's growth. Mongolia's unique geography and nomadic culture have presented special circumstances for the market, while the growing middle class and urbanization trend have provided underlying macroeconomic factors that support the growth of the RTD tea market.

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.