The sale and consumption of iced tea beverages are referred to as the iced tea market. Due to rising consumer demand for refreshing and healthful beverage options, this industry has experienced tremendous expansion in recent years. There are many different types of iced tea, including organic, flavoured, sweetened, and unsweetened varieties. A number of well-known brands and recent competitors are vying for market share in the iced tea business, which is very competitive. PepsiCo, The Coca-Cola Company, Nestea, and AriZona Beverages are significant market participants in the iced tea sector. The market is anticipated to expand over the next few years as a result of factors like rising disposable incomes, expanding demand for convenient and ready-to-drink beverages, and rising health consciousness.
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Competitive Landscape:
As the number of health-conscious consumers continues to rise globally, major players in the industry are implementing diverse strategies to captivate their attention. One such strategy is the introduction of flavored and low-sugar ice tea, aiming to secure a significant market share.
In addition to product innovation, companies are leveraging innovative marketing techniques to engage customers, especially millennials and members of Generation Z. Social media platforms such as Instagram, LinkedIn, Pinterest, Twitter, and Facebook play a pivotal role in this endeavor. By utilizing these platforms, companies can increase their revenue while also raising public awareness about the environmental and sustainability aspects of their products.
A significant player in the beverages sector, Jade Forest, introduced a range of three-flavor ice teas in April 2022. These teas were created in collaboration with Danish flavor experts.
Teapigs introduced two new flavors of ice tea in July 2022: black tea with peach and superfruit.
Beverage Partners International (BPI), in collaboration with Teabrary and Berjaya Group, launched Dilmah ice tea to the Malaysian market in July 2022.
Key Companies Profiled:
Unilever
Coca-Cola
Starbucks
Nestle SA
Arizona Beverages
Harris Freeman & Co.
Mother Packers
Hangzhou Wahaha Group
Teatulia
BOS Brands
4C Food Corp
Steaz (Healthy Beverage)
Adagios Tea
Key Segments Covered of Ice tea Market
By Product Type :
o Bottled Tea
o Powdered Tea
o Tea Bags
By Tea Type :
o Fruit-infused Tea
Lemon Tea
Ginger Tea
Cherry Tea
Peach Tea
Apple Tea
Mango Tea
Others
o Liquor-infused Tea
o CBD-infused Tea
o Specialty Tea
Matcha Tea
Kombucha Tea
B y Nature :
o Organic
o Conventional
By Price Range :
o Economy
o Mid-range
o Premium
By Sales Channel :
o HORECA
o Modern Trade
o Specialty Stores
o Departmental Stores
o Convenience Stores
o Online Retailers
o Other Sales Channels
By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o Middle East & Africa
Key Takeaways from Ice Tea Market Study
The global ice tea market is anticipated to add 2X value by 2030.
Bottled ice tea is predicted to grow at a sturdy rate of more than 6% CAGR over the forecast period.
East Asia is the transcendent market with a value of US$ 33.3 Bn in 2019, and is set to balloon at a vigorous CAGR of 7.2% during the forecast period.
Organic Ice tea is set observe a brisk growth rate of 8.% CAGR, while conventional ice tea is projected to add 2X its value over the forecast period.
Regions such as Latin America and the Middle East & Africa are projected to witness a surge at CAGRs of 8.6% and 8.8%, respectively.
By sales channel, online retailers is leading among all, globally, in term of growth rate, expected to progress at a high CAGR of more than 9% over the forecast period, whilst departmental stores are expected to follow next at a handsome CAGR of 7.5%.
An important market, China, is projected to expand at a CAGR of 7.6%, while India is set to race ahead at 9.3%.
The U.S. ice tea market is expected to expand at a CAGR of more than 7% through 2030. For in-depth competitive analysis, Buy Now: https://www.factmr.com/checkout/5508
More Valuable Insights on Ice Tea Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Ice Tea, Sales and Demand of Ice Tea, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.