Still steeping: Heavier competition is expected to continue to dampen industry profit growth
The Ready-to-Drink (RTD) Tea Production industry produces tea beverages that are packaged and ready for consumption. The demand for RTD tea has grown due to rising health consciousness and improving disposable income. As consumers turn away from sugary beverages such as soda, tea has become a favored alternative. Additionally, according to the Tea Association of the USA, RTD tea is the most popular way tea is consumed in the United States. Moreover, the industry grew amid the COVID-19 pandemic as teas have immunity-boosting properties, which are health-beneficial in fighting against the flu. Overall, the analyst estimates revenue has been expanding at a CAGR of 0.7% to reach an estimated $7.7 billion over the past five years, including an anticipated growth of 0.1% in 2023 alone.
Companies in this industry brew and bottle tea in a ready-to-drink state.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Unilever N V
- Arizona Beverage Company
- Coca-Cola Consolidated Inc.
- Keurig Dr Pepper Inc.
- Nestle Sa
Methodology
LOADING...
