Bottled Iced Tea Market to Be Dominated By North America During the Forecast Period
Rising demand for healthy beverage and changing
consumer preference towards packaged consumer goods are the leading factors
driving the global bottled iced tea market during the projected period.
According to TechSci Research report, “Global Bottled Iced Tea Market - Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F,” the global bottled iced tea market is
expected to grow faster during the forecast period. In the beverage industry
bottled iced tea is commonly turning as alternative beverage for consumers
because it is naturally sweeter, lighter, and more refreshing than carbonated
soft drinks that are filled with sugar or artificial sweeteners and
preservatives. Additionally, the boom in the market of bottled iced tea is due
to the fitness craze among consumers. It has been observed that bottled iced
tea is consumed especially by younger and more health-conscious people. In the
coming years, market expansion is anticipated to be driven by the rising number
of consumers of bottled iced tea globally.
Bottled Iced Tea is a beverage which is considered as a
health drink because it contains antioxidants called polyphenols, which may
help prevent a variety of ailments, including cancer, weight management, skin
care routine, etc. However, according to researchers, a single cup of freshly
brewed green or black tea has more polyphenols than several of the popular
bottled iced tea beverages. Additionally,
over the coming years, extensive demand for bottled iced tea is expected due to
the rise of trendy and flashy flavors.
As tea is the most popular drink among consumers, bottled
iced tea is the latest trend of bottled beverage. Despite the fact that Americans and
consumers worldwide have been drinking tea for centuries, the local
supermarket's shelves are now fully loaded with a range of teas, mostly in the
pre-bottled beverage section where customers go for quick, energizing drinks.
Interestingly, keeping color consistency, packaging is one of the most
crucial processes in the production of bottled iced tea as it is believed
that a beverage's color and packaging is a key indicator of quality. Thus,
manufacturers are producing bottled iced tea with the quality factor in mind to
increase the consume base which is driving the global bottled iced tea market
in the coming years.
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Moreover, the number of Americans who drink tea is growing,
but many of them favor cold tea over hot. This
trend seems to accommodate the fast-paced culture because it takes less time to
grab a bottled iced tea than it does to boil a cup of tea. Americans prefer
quick and simple options and are willing to spend more on high-quality
ready-to-drink beverages.
The beverage industry is beginning to recognize the
importance of this expanding sector and is making investments in fresh
varieties of bottled iced tea.
Due to actual or perceived
health benefits and portability, bottled iced tea is becoming more and more
popular in various countries. The market is characterized by large number of
product line with various flavors, sizes, packaging, wide availability, easy
storage, portability, and convenience.
The global Bottled Iced Tea market is segmented based on product type, end
user, distribution channel, region and competitive landscape.
The market is divided
into black tea, green tea, white tea, oolong tea, fruit tea based on product type.
Among which green and black bottled iced tea is gaining popularity due to the
benefits associated with these teas among millennial as well as they provide
special combination of flavors and advantages.
Based on distribution channel, the market is
fragmented into supermarkets/hypermarkets, convenience stores, departmental stores,
online stores, others (Direct Sales, Distributor & Dealer Sales etc.)). Supermarket/Hypermarket
has the highest share in the tea market, this is due to options such as the
one-stop shopping experience offered by various retail formats, which makes it
a very popular choice for consumers.
Based on end user, the market
is further divided into residential and HoReCa. Among them HoReCa have a
significant share due to the availability of wide range drinks at HoReCa as
people are preferring healthy drinks over carbonated drinks at these places.
Although bottled tea has
successfully entered online sales, online retailers are also entering HoReCa to
favor revenue generating in an effort to explore new modes of distribution
beyond the traditional supply chain.
The market analysis also
studies the regional segmentation to devise regional market segmentation,
divided among North America, Europe, Asia-Pacific, South America, and Middle
East & Africa. Among which North America has a prominent share mostly due
to the extensive tea culture and preference for ready to drink cold tea among
population.
Key
market players in the global bottled iced tea market include:
- Unilever plc (Lipton)
- Crystal Geyser Water Company (Tejava)
- AriZona Beverages USA, LL
- Nestlé S.A.,
- Starbucks Corporation
- Uni-President China Holdings Ltd
- Hangzhou Wahaha Group Co., Ltd.
- VDF Futureceuticals, Inc. (Steaz)
- The Coca-Cola Company (Honest Tea)
- Suntory Holdings Ltd
Various International and domestic companies are trying to enhance their market
reach by increasing their mergers and acquisitions as well as research and
development. For instance, TAZO, a manufacturer of ready-to-drink bottled iced
tea, introduced three new varieties in January 2020 named Awake, Zen, and
Passion. Black tea and traditional English breakfast flavors have been combined
to create Awake, Zen, and Passion, each of which is a vibrant blend of orange
peel, hibiscus, lemongrass, rose hips, and cinnamon. Thus, with introduction of
new bottled iced tea product range expand the bottled iced tea market during
the forecast period.
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“As people become more aware of the health advantages of consuming bottled iced
tea, such as weight loss & maintenance, high nutritional content,
detoxification, & others, the demand for bottled iced tea is predicted to
increase globally over the forecast period. Another element influencing the
growth of global bottled iced tea market is the demand for flavored
beverages to improve taste. All these factors predicted to accelerate market growth.”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Bottled Iced Tea Market – Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018 - 2028F Segmented
By Product Type (Black Tea, Green Tea, White Tea, Oolong Tea, Fruit Tea), By
End User (Residential, HoReCa), By Distribution Channel (Supermarkets/Hypermarkets,
Convenience Stores, Departmental Stores, Online Stores, Others (Direct Sales,
Distributor & Dealer Sales etc.)), By Region,” has evaluated the future growth
potential of Global Bottled Iced Tea Market and provides statistics and
information on market structure, size, share, and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the Global Bottled Iced Tea market.
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