Ready-to-Drink (RTD) Tea - Zimbabwe

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

Customer preferences: In recent years, there has been a growing demand for healthier beverage options among consumers in Zimbabwe. As a result, there has been a shift towards Ready-to-Drink (RTD) Tea, which is perceived as a healthier alternative to carbonated soft drinks. Consumers are increasingly looking for beverages that are low in sugar and calories, and RTD Tea meets these criteria. Additionally, the convenience factor of RTD Tea appeals to busy consumers who are looking for on-the-go options.

Trends in the market: One of the key trends in the RTD Tea market in Zimbabwe is the introduction of new flavors and varieties. Manufacturers are constantly innovating and launching new products to cater to the diverse tastes and preferences of consumers. This includes flavors such as green tea, black tea, herbal tea, and fruit-infused tea. The availability of a wide range of flavors has contributed to the popularity of RTD Tea among consumers. Another trend in the market is the increasing availability of RTD Tea in different packaging formats. While traditional glass bottles are still popular, manufacturers are also introducing RTD Tea in cans and PET bottles. This allows for greater convenience and portability, making it easier for consumers to enjoy RTD Tea anytime, anywhere.

Local special circumstances: Zimbabwe has a strong tea culture, with tea being a popular beverage among the population. This cultural preference for tea has contributed to the growth of the RTD Tea market in the country. Consumers are familiar with the taste and benefits of tea, and are therefore more inclined to try RTD Tea as a convenient and ready-to-consume option. Additionally, Zimbabwe has a growing middle class population with increasing disposable income. This has led to a rise in consumer spending on premium and healthier food and beverage options, including RTD Tea. As consumers become more health-conscious, they are willing to pay a premium for products that offer health benefits and convenience.

Underlying macroeconomic factors: The overall economic stability in Zimbabwe has also played a role in the development of the RTD Tea market. The country has witnessed a period of relative economic growth, resulting in increased consumer purchasing power. This has created a favorable environment for the growth of the RTD Tea market, as consumers have more disposable income to spend on non-essential items such as beverages. Furthermore, the growing urbanization in Zimbabwe has contributed to the growth of the RTD Tea market. As more people move to cities and towns, there is a greater demand for convenient and on-the-go beverage options. RTD Tea fulfills this need, as it can be easily purchased and consumed while on the move. In conclusion, the Ready-to-Drink (RTD) Tea market in Zimbabwe is experiencing growth and development due to changing consumer preferences, the introduction of new flavors and packaging formats, local tea culture, a growing middle class population, economic stability, and urbanization. These factors have created a favorable environment for the expansion of the RTD Tea market in Zimbabwe.

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.