According to a new report by Univdatos Market Insights, the Ready-to-Drink (RTD) Coffee & Tea Market is expected to reach ~USD 185 Billion in 2032 by growing at a CAGR of ~7.1%. Ready-to-drink (RTD) coffee and tea are convenient and easy options for individuals who desire a beverage that contains caffeine, or other beverages that do not require preparation of any form. These are ready-to-consume in cold brew format, iced coffee, and flavored teas which are pre-brewed and can be in cans, bottles, or cartons, or packed in single-serve portions or multi-serve ones. RTD drinks have evolved from focusing on basic traditional tastes to varying types of enriched and functional products to meet the market demands related to health. The growing trend is that consumers buy more worked-off products, natural aromas, less sugar, and packaging designed with environmental responsibilities in mind.
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KEY GROWTH DRIVERS:
The ready-to-drink (RTD) coffee & tea market has seen significant growth, especially in the market as more people are shopping for convenient, grab-and-go beverages. This market has a broad product offering which includes cold brew coffees, iced tea products, and other flavored drinks to suit different demands. Flavor developments, product development, and packaging remain innovative, pulling in new consumers, while new qualitative changes like low-sugar and organic products address current dietary trends. Market growth is supported by expanding distribution outlets and a trend towards premium and artisanal goods.
For instance,
· In August 2024, Black Rifle Coffee Company, a rapidly-growing, mission-driven lifestyle brand and premium coffee company, announced to launch of a new line of high-octane, ready-to-drink Black Rifle Energy beverages expected to premier in late Q4 and arrive in early 2025.
· In June 2024, Japan-based Ueshima Coffee Company launched two new ready-to-drink (RTD) canned coffees – Iced Latte and Iced Matcha Latte to the UK market for the first time. Both Ueshima’s products are packaged in 100% recyclable cans, further strengthening Ueshima’s existing commitment to sustainable practices.
The report suggests that the Increasing Demand for Ready-made Beverages is a significant factor driving the growth of the ready-to-drink (RTD) coffee & tea market in the coming years. The rapidly changing global dynamics and soaring consumption of ready-to-consume beverages drive the ready-to-drink (RTD) coffee & tea market. With the daily lives of consumers progressively getting more occupied, there is a demand for products that can be consumed without much planning. It is an instant coffee and tea, which allows consumers to take ready-to-drink beverages without the need to prepare them or wash the dishes. This aspect is increasing the demand for ready-to-drink varieties since customers are willing to purchase and consume the beverages they require, right from the comfort of their homes or offices.
Tea Segment Gaining Maximum Traction in the Market
The tea segment held a dominant share of the market owing to the high demand for RTD tea especially with less sugar content, natural products, and containing nutrients such as antioxidants. This segment has also been boosted by the popularity of iced and flavored teas which include green, black, and herbal teas. Furthermore, the increasing demand for better quality and flavored RTD tea, new packaging, and attractive marketing both amongst the tea targets has also gained consumer attraction. This growth is also supplemented by a rise in the availability of RTD tea in various retail outlets and the consideration for environmental concerns through leveraging environmentally friendly containers. In conclusion, the tea segment remains one of the most dynamic categories with significant growth potential mainly due to changing consumer palates and a broadening number of choices.
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Conclusion
The global ready-to-drink (RTD) coffee & tea market is rapidly growing, with advancements in the consumer goods industry leading to improved outcomes. The global market is expected to increase as new innovative ready-to-drink beverages are developed in the coming years. Thus, the international ready-to-drink (RTD) coffee & tea market represents a significant opportunity for companies to make strategic alliances to launch affordable RTD drinks. With continued development, more products will likely become available, improving consumer outcomes.
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