Ready-to-Drink (RTD) Tea - Serbia

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

Customer preferences: Serbian consumers have shown a growing preference for healthier beverage options, which has contributed to the increasing demand for RTD tea products. As consumers become more health-conscious, they are seeking out beverages that offer both refreshment and nutritional benefits. RTD tea, with its natural ingredients and lower sugar content compared to carbonated soft drinks, has emerged as a popular choice among health-conscious consumers in Serbia.

Trends in the market: One of the key trends in the RTD tea market in Serbia is the rising popularity of flavored and functional teas. Manufacturers are introducing a wide variety of flavors, such as fruit-infused teas and herbal blends, to cater to the diverse tastes of consumers. Additionally, functional teas that offer specific health benefits, such as detoxification or relaxation, are gaining traction in the market. Another trend in the market is the increasing availability of RTD tea products in different packaging formats. While traditional glass bottles and cans are still commonly used, there has been a growing shift towards more convenient and portable packaging options, such as PET bottles and Tetra Pak cartons. This allows consumers to easily consume RTD tea on-the-go, further driving the market growth.

Local special circumstances: Serbia has a strong tea-drinking culture, with traditional hot tea being a popular beverage choice. However, the convenience and ready-to-consume nature of RTD tea products have made them increasingly appealing to Serbian consumers. RTD tea provides a convenient alternative to traditional hot tea, especially during the warmer months when consumers are looking for refreshing beverages.

Underlying macroeconomic factors: The growth of the RTD tea market in Serbia can be attributed to several macroeconomic factors. The improving economic conditions in the country have led to higher disposable incomes, enabling consumers to spend more on premium and healthier beverage options. Additionally, the increasing urbanization and busy lifestyles of Serbian consumers have created a demand for convenient and on-the-go products, which RTD tea fulfills. In conclusion, the Ready-to-Drink (RTD) Tea market in Serbia is experiencing growth due to the changing customer preferences for healthier beverages, the introduction of new flavors and packaging formats, the convenience of RTD tea products, and the underlying macroeconomic factors. The market is expected to continue expanding as Serbian consumers increasingly prioritize health and convenience in their beverage choices.

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.