A Detailed Analysis of Iced Tea Market by Ready-to-Drink, Powdered Mixes, and Concentrates. Flavorful Innovations and Global Expansion- Driving Forces Behind the Booming Iced Tea Market. China is the largest tea producer and iced tea consumer in Asia.

/EIN News/ -- NEWARK, Del, July 15, 2024 (GLOBE NEWSWIRE) -- The iced tea market value is anticipated to surpass US$ 6,753 million in 2024 and is likely to attain a valuation of US$ 12,132 million by 2034. The iced tea market size is projected to expand at a CAGR of 6.0% from 2024 to 2034.

With the global shift toward healthy lifestyles, customers increasingly prefer items supporting their wellness aspirations. In the beverage industry, there is a rising demand for sugar-free alternatives. Iced tea, especially when marketed as a natural, low-calorie choice with possible health advantages from tea antioxidants and polyphenols, takes advantage of this trend. Beverage firms can capitalize on this need by creating iced teas with health-conscious components and promoting them as part of a balanced lifestyle, allowing them to capture a bigger share of the health-oriented consumer market.

Premium and artisanal items are becoming increasingly popular across various industries, including beverages, as customers grow more discriminating and are ready to pay a premium for quality. This trend is reflected in the iced tea industry, where premium, handcrafted blends made from top-quality tea leaves and botanicals are introduced. Companies can draw consumers who are looking for distinctive flavor sensations and are willing to pay more for greater quality by presenting these offers as opulent and exclusive. This will increase revenue and foster brand loyalty.

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Key Takeaways from the Iced Tea Market Report

• The global iced tea market size expanded at a 5.70% CAGR from 2019 to 2023.
• The powdered mixes segment holds 43.3% of market shares in 2024.
• The retail segment captured 54.3% of market shares in 2024.
• The market size in the United States is projected to rise at a 4.3% CAGR through 2034.
• The market size in Germany is anticipated to develop at a 5.1% CAGR through 2034.
• The market size in Japan is estimated to surge at a 3.7% CAGR through 2034.
• The market size in India is expected to increase at a 7.3% CAGR through 2034.
  

"Success in the quickly changing iced tea business depends on innovation, sustainability, and compliance with regulations. Strategic partnerships and customization are essential for making an influence on the market. For a business to expand and survive, it must quickly adjust to shifting consumer tastes, especially in favor of environmentally friendly items. The market requires aggressive approaches to set products apart and create deep ties with various consumer groups." - Nandini Roy Choudhury, Client Partner at Future Market Insights 

Competitive Landscape

The iced tea market is highly competitive, featuring significant competitors such as Nestle, Coca-Cola, and PepsiCo. These giants dominate due to their global reach and brand awareness. Harney & Sons and The Republic of Tea are specialized tea firms that target the luxury category, while regional competitors like Arizona Beverage and Snapple cater to local tastes. Due to its diversified product offering, Unilever's Lipton brand commands a sizable market share. Niche players such as Steaz concentrate on organic and sustainable products. Collaborations, strategic partnerships, and a focus on customer preferences characterize the dynamic competitive landscape.

Recent Developments

• In February 2024, Tilray Brands, Inc., a well-known worldwide cannabis and consumer packaged goods firm, introduced two new ready-to-drink cold brew iced tea beverages under its premium cannabis wellness brand, Solei. Solei's two cold brew teas, Peach Cranberry and Wildberry Hibiscus, are non-carbonated, gently sweet, and packaged in 355ml cans.
• In October 2023, the Indian functional beverage business Beyond Water debuted the nation's first ready-to-drink (RTD) iced tea. The new launch aims to meet consumer demand for premium tea sources and healthier drink options. It is available in lemon and peach flavors.

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Ready-to-Drink Iced Tea Gaining Momentum with an Escalating Demand

Compared to just ten years ago, the world of RTD beverages has drastically changed. Sales of soda are down while sales of water are increasing, and words like "craft," "cold brew," and "natural energy" have become widely used, partly because Millennials are still the main drivers of RTD beverage growth. And most significantly, consumers of RTD beverages are starting to expect healthful options.

The growth in RTD Iced Tea is being led by better-for-you beverages. This category addresses key trends that we’re seeing in both the beverage and food industries, which include: Convenience, Health and wellness, and Clean Labels.

Expanding Customized Demand for Natural, Herbal, Non-Modified Functional Ingredients

Consumers are looking for functional beverages that are appealing and ready to go, whether it is through the use of natural ingredients like turmeric or the addition of protein. Consumers are becoming more aware of products and supplements that can offer nutritional benefits as the health and wellness movement has grown in popularity in recent years.

Since they are not produced from the camellia Sinensis plant, which is used to produce all tea kinds, herbal teas are not strictly considered to be a type of "tea" and are frequently referred to as "tisanes" to prevent misunderstanding. These mixtures of herbs, flowers, and spices are, therefore, caffeine-free. They provide a special combination of flavors and advantages. A tisane's capacity to treat sickness or ward off degenerative conditions will depend on the herbal and floral components it contains.

Most herbs contain antioxidants, and many of them have therapeutic properties. While ginger is frequently used as a digestive aid and licorice root is beneficial for a sore throat, chamomile is well recognized for its relaxing effects. The health benefits of other herbal combinations differ, and each tisane adds a unique flavor, scent, and personality to every cup you sip.

There is zero caffeine in the herbal teas that manufacturers are developing, including chamomile, ginger, and peppermint. Comprised of generally caffeine-free dried flowers, leaves, seeds, or roots. Herbal tea is an excellent option if you want tea to sip at night. For instance- Lipton i018 launched New Flavors to Summertime Family Meals of Fruit-Infused Iced Herbal Teas. Many such herbal teas are launched every year.

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Iced Tea Market Segmentation

By Format:

• Ready-to-Drink
• K-cups
• Bottled
• Stand-up Pouches
• Powdered Mixes
• Cartons
• Tins/Jars
• Concentrates
• Sachets
• Tea Bags

By Base:

• Green Tea
• Black Tea
• Herbal Tea
• Oolong Tea
• White Tea
• Matcha Tea
• Fruit Chai
  

By End Use:

• Food Service
• Bakeries & Patisseries
• Airport Retail
• Travel Retail
• Retail
• Hypermarket/Supermarket
• Convenience Stores
• Departmental Stores
• Wholesale Stores
• Online Retailers

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• Japan
  
  

Authored by: 

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.   

She has exceptional analytical skills and often brings thought leadership to the table.  

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results. 

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.  

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor. 

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Global sales of natural tea extract are estimated to total USD 5.4 billion in 2024 and USD 11.1 billion by 2034.

The global green tea supplements market Size is expected to be valued at US$ 5.7 billion in 2023, and will most likely experience a CAGR of 6.1% during the 2023 to 2033 

The demand for ready-to-drink (RTD) tea is capturing a valuation of US$ 34.3 billion in 2023 and is projected to reach US$ 72.9 billion by 2033. 

Global black tea extracts market demand is anticipated to be valued at US$ 137.5 million in 2023, forecast to grow at a CAGR of 4.7% to be valued at US$ 217.6 million from 2023 to 2033.

Global nitrogenated coffee market demand is anticipated to be valued at US$ 40 Billion in 2022, forecast to grow at a CAGR of 4.1% to be valued at US$ 60 Billion from 2022 to 2032.

The Sales of USA bubble tea market  is forecast to increase from US$ 368.7 million in 2023 to US$ 1,245 million by 2033.

The global herbal tea market share is forecasted to be valued at US$ 3,962.7 million in 2023 and expected to grow at a CAGR of 7.3%, valued at US$ 7,693.5 million by 2033.

The organic tea market size is expected to expand its roots at a steady CAGR of 8.0% the market is likely to hold a revenue of US$ 1.24 billion in 2023 while it is anticipated to cross a value of US$ 2.69 billion by 2033.

The kombucha tea market share is projected to expand its roots at a steady CAGR of 12% and market is likely to hold a revenue of US$ 1.72 billion in 2023 while it is anticipated to cross a value of US$ 5.4 billion by 2033.

The global slimming tea market size is anticipated to be worth $7.4 billion in 2022 and it is expected to surpass US$ 11.5 billion by 2032. 

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