Beverages
such as tea and coffee have been an integral part of civilizations,
cultures, and consumerism. Over centuries, tea has played an
important role in royal ceremonies and in curing illnesses.
Similarly, coffee has been consumed for its fascinating energizing
effects in several parts of the world since ancient times. However,
the modernization of lifestyles has also brought in a fresh
perspective on tea and coffee. Consumption of these beverages is no
longer a ceremonial act, but merely one that pertains to a daily
stimulant dose intake. The paradigm shift in ways tea and coffee is
consumed today has given the global ready to drink (RTD) tea and
coffee market appreciable opportunities worldwide.
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Increasing
Disposable Income to Drive Global RTD Market
In
the past few years, the global ready to drink tea and coffee market
has witnessed a huge swell in demand due to changing lifestyles,
growing disposable incomes, and the resulting consumerism. South
Asian countries and BRIC nations are making a substantial
contribution to the growth of the global RTD tea and coffee market.
RTD
Market Picks Up Momentum due to Increasing Health Concerns
The
ready to drink tea and coffee market is gaining momentum as these
beverages are slowly gaining demand due to health reasons. Consuming
a certain amount and type of coffee or tea has several benefits such
as low calorie intake, a decent dosage of antioxidants, and instant
energy. The RTD market is estimated to witness further growth with a
higher number of fitness oriented consumers, strict diet plans, and
urbanization.
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High
Raw Material Prices Could Hinder Growth of RTD Market
The
factors hindering the growth of the global ready to drink tea and
coffee market are the increasing raw material prices and the growing
consumption of ground coffee across the globe. However, widespread
health concerns, changing mindsets about improving health, and a
growing preference for processed beverages amongst a wide range of
consumers will boost the market in the coming few years.
Asia
Pacific Emerges as Leader in Global RTD Market
The
global ready to drink tea and coffee market has been segmented on the
basis of type into green tea, fruit- and herb-based tea, black tea,
and oolong tea. On the basis of ingredients, this market is further
segmented into yerba mate, acai berry, vitamin B, ginseng, guarana,
and taurine. Geographically, this market is fragmented into Europe,
Asia Pacific, North America, and Rest of the World. Of these regions,
Asia Pacific dominates the global ready to drink tea and coffee
market, while Europe is in the second position. Analysts predict that
the demand for ready to drink tea and coffee in North America will
receive an impetus due to increasing health consciousness and rising
awareness about the negative impact of carbonated drinks.
The
important players in the global ready to drink tea and coffee market
are Hangzhou Wahaha Group, Japan Tobacco Inc., Starbucks Corporation,
Asahi Group Holdings Ltd., San Benedetto, Pepsico Inc., The Coca Cola
Company, Monster Beverage Company, Ferolito Vultaggio and Sons, Dr
Pepper Snapple Group, and Taisan Enterprise Co. Ltd.
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