The Global Ready to Drink Tea and Coffee Market size is expected to reach $135 billion by 2024, rising at a market growth of 8.4% CAGR during the forecast period.
The Ready to Drink (RTD) tea and Ready to Drink coffee are the sub group of soft drinks, however, these drinks differs in the functions. The market for Ready to drink tea and Ready to drink coffee is witnessing significant growth. Various types of RTD tea and RTD coffee products have been introduced to meet wide range of customers, spread across geographies. Various nutraceutical ingredients are being added to enhance the product offerings.
Ready to drink tea and coffee are drinks that offer nutritional benefits along with good taste. Growing concerns over obesity and increasing lifestyle diseases have encouraged the end users to choose ready to drink tea and coffee. Growing e-commerce sector and shifting retain interest to the online platforms contribute to the growth of this market.
Based on product type, the market is segmented into Ready to Drink Tea and Ready to Drink Coffee. Based on packaging type, the market is segmented into Canned Packaging, Glass Bottle Packaging, PET Bottle Packaging, and Others Packaging. The Price Range segment covers, Premium, Regular, Fountain, and Others. Furthermore, the major distribution channel are covered in the report are Convenience Store, Supermarket/Hypermarket, Food Service, and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Coca-Cola Company, PepsiCo Inc., Pokka Corporation, Nestle S.A., Lucozade Ribena Suntory, Arizona Beverage Company, Danone SA, Monster Beverage Corporation, Starbucks Corporation, and Unilever.