According to a new report, published by KBV research, The Global Ready to Drink Tea and Coffee Market size is expected to reach $161.6 billion by 2030, rising at a market growth of 6.3% CAGR during the forecast period. In the year 2022, the market attained a volume of 24,122.1 thousand litres, experiencing a growth of 5.9% (2019-2022).
The PET Bottle segment is generating the highest revenue in the Global Ready to Drink Tea and Coffee Market by Packaging Type in 2022; thereby, achieving a market value of $65.4 billion by 2030. The light weight of PET bottles facilitates their portability and handling. In the ready to drink tea and coffee market, where on-the-go consumption is a significant factor, the portability of PET bottles aligns well with consumer preferences for convenience. The ready to drink tea and coffee market caters to consumers with busy lifestyles who seek convenient beverage options. PET bottles provide a convenient and hassle-free packaging solution, allowing consumers to grab a bottle easily and enjoy their favorite beverage while on the move.
The RTD Coffee segment is registering a CAGR of 7.8% during (2023 - 2030). The surge in demand for cold brew coffee and nitro-infused coffee beverages has significantly contributed to the growing demand for RTD coffee. These specialty formats offer unique taste experiences and have become particularly appealing to many consumers. The globalization of coffee culture, marked by a heightened appreciation for diverse coffee experiences and specialty brews, has spurred the demand for RTD coffee.
The Economy segment is leading the Global Ready to Drink Tea and Coffee Market by Price in 2022; thereby, achieving a market value of $110.6 billion by 2030. The economy segment targets affordability, making RTD tea and coffee accessible to many consumers. Brands within this segment often focus on providing cost-effective options that appeal to the mass market. These RTD tea and coffee drinks are positioned as convenient and everyday choices for consumers with busy lifestyles. This segment capitalizes on the ease of on-the-go consumption without brewing or additional preparation.
The Food Service segment is experiencing a CAGR of 6.8% during (2023 - 2030). The food service segment provides a platform for a diverse range of RTD tea and coffee products, including different flavors, formulations, and innovative blends. This variety caters to consumers' preferences, seeking unique and premium beverage options when dining out. Food service establishments often offer RTD tea and coffee customization options, allowing consumers to personalize their beverages with add-ins, flavors, and alternative milk choices.
Full Report: https://www.kbvresearch.com/ready-to-drink-tea-and-coffee-market/
The Asia Pacific region dominated the Global Ready to Drink Tea and Coffee Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $62.3 billion by 2030. The Europe region is anticipating a CAGR of 5.6% during (2023 - 2030). Additionally, The North America region would exhibit a CAGR of 5.9% during (2023 - 2030).
By Packaging Type (Volume, Thousand Litres, USD Billion, 2019-2030)
By Type (Volume, Thousand Litres, USD Billion, 2019-2030)
By Price (Volume, Thousand Litres, USD Billion, 2019-2030)
By Distribution Channel (Volume, Thousand Litres, USD Billion, 2019-2030)
By Geography (Volume, Thousand Litres, USD Billion, 2019-2030)
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