Ready-to-Drink (RTD) Tea - Peru

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

Customer preferences: Peruvian consumers have shown a growing preference for healthier beverage options, which has contributed to the increasing demand for RTD tea. With rising health consciousness and a desire for natural and functional ingredients, consumers are turning to RTD tea as a refreshing and healthier alternative to carbonated soft drinks.

Trends in the market: One of the key trends in the RTD tea market in Peru is the growing popularity of herbal and fruit-infused teas. Consumers are increasingly seeking out products that offer unique flavors and natural ingredients. This trend is driving the innovation in the market, with companies introducing new and exotic flavors to cater to consumer preferences. Additionally, there is a rising demand for organic and natural RTD teas, as consumers are becoming more mindful of the ingredients and production methods used in their beverages.

Local special circumstances: Peru's rich biodiversity and cultural heritage have played a significant role in shaping the RTD tea market in the country. The availability of a wide variety of native herbs and fruits has allowed for the creation of unique and authentic tea flavors that appeal to local consumers. Additionally, Peruvian consumers have a strong affinity for traditional herbal remedies, which has further fueled the demand for herbal-infused RTD teas.

Underlying macroeconomic factors: Peru's growing middle class and increasing disposable income have also 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, including RTD teas. Furthermore, the convenience factor of RTD teas has also played a role in their popularity, as busy urban lifestyles make on-the-go beverages more desirable. In conclusion, the Ready-to-Drink (RTD) Tea market in Peru is witnessing significant growth due to changing customer preferences towards healthier options, the popularity of herbal and fruit-infused teas, Peru's rich biodiversity and cultural heritage, and the country's growing middle class and increasing disposable income.

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.