The iced tea market offers a refreshing and versatile beverage with numerous benefits and applications. It quenches thirst and provides hydration, making it an ideal choice for hot weather. Additionally, its wide array of flavors and variants caters to diverse tastes. Iced tea is suitable for casual consumption, fine dining, and as a mixer in cocktails. Moreover, its antioxidant properties contribute to overall health, making it a popular choice for health-conscious consumers seeking a tasty and nutritious beverage option.
According to Data Bridge Market Research, the Global Iced Tea Market which was valued at USD 46.66 billion in 2021 is expected to reach a value of USD 79.57 billion by 2029, at a CAGR of 6.90% during the forecast period of 2022-2029.
“Increasing consumption of iced tea due to its nutritional benefits boosts the market’s growth”
Iced tea, renowned for its nutritional benefits, enjoys widespread popularity among consumers, surpassing many other beverages. The market benefits from companies offering detoxifying iced tea options, with consumers open to exploring new flavors. Additionally, the belief in iced tea's potential in reducing cancer risks fosters regular consumption. The global iced tea market thrives as it appeals to diverse regions where tea is already a favored beverage, drawing increased investments and propelling growth.
What restraints the growth of the global iced tea market?
“Fluctuating raw material prices restraints the market’s growth”
The iced tea market faces a challenge in the form of fluctuating raw material prices. Variations in the costs of tea leaves, sweeteners, and additives can disrupt production economics. This may lead to difficulties in maintaining competitive pricing and product consistency. Additionally, it can strain profit margins for manufacturers and affect consumer choices. Managing these price fluctuations becomes crucial for stability and growth within the iced tea industry.
Segmentation: Global Iced Tea Market
The global iced tea market is segmented on the basis of product, application, form, nature, and sales channel.
- On the basis of product, the global iced tea market is segmented into black iced tea and green iced tea.
- On the basis of application, the global iced tea market is segmented into residential, commercial.
- On the basis of form, the global iced tea market is segmented into liquid, powder, and premix.
- On the basis of nature, the global iced tea market is segmented into organic tea, conventional tea.
- On the basis of sales channel, the global iced tea market is segmented into hypermarket/supermarket, convenience store, drug stores, specialty stores, traditional grocery store, and online stores.
Regional Insights: Asia-Pacific is expected to dominate the Global Iced Tea Market
The Asia-Pacific iced tea market is poised to secure a substantial revenue share. This is attributed to increased tea production and sales in countries such as China, Japan, and India, driven by the tea's recognized anti-aging and detoxifying qualities. The rising popularity of tea among individuals of diverse ages and genders fuels market growth. Furthermore, the expansion of tea retail establishments is another key factor expected to drive growth in the target market.
The North American tea capsule market is poised for rapid growth, primarily propelled by heightened demand for green tea and elevated per capita tea consumption in the region. These factors are anticipated to be major drivers of market expansion, positioning North America for a faster growth rate compared to other regions.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-iced-tea-market
Recent Developments
- In 2019, The Coca-Cola Company collaborated with TerraCycle to introduce a program in Western Europe. This initiative allowed customers to utilize refillable containers, suitable for a range of beverages, including iced teas. The program was made accessible through a European retailer, promoting sustainability and reducing single-use packaging in the region.
- In 2019, Nestlé SA transitioned to using 23-ounce PET bottles and, under new American leadership, made substantial enhancements to the tea's quality. This strategic move aimed to regain its dominant position in the domestic market for tea products in the United States.
The Prominent Key Players Operating in the Global Iced Tea Market Include:
- The Coffee Bean & Tea Leaf (U.S)
- Unilever (U.K)
- Gourmesso (U.S)
- Harney & Sons Fine Teas (U.S)
- Dualit (U.K)
- Nestlé SA (Switzerland)
- Dilmah Ceylon Tea Company PLC (Sri Lanka)
- Ippodo Tea Co. Ltd. (China)
- Tranquini (U.S)
- Chillbev (U.S)
- Som Sleep (U.S)
- Phi Drinks, Inc.(U.S)
- BevNet.com (U.S)
Above are the key players covered in the report, to know about more and exhaustive list of global iced tea market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Iced Tea Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
