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The ready-to-drink green tea market share is expected to increase by USD 1.08 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 5%.
This ready-to-drink green tea market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers ready-to-drink green tea market segmentations by packaging (plastic bottles, cans, and others) and geography (APAC, North America, Europe, MEA, and South America). The ready-to-drink green tea market report also offers information on several market vendors, including Associated British Foods Plc, ITO EN LTD., Keurig Dr Pepper Inc., Nestle SA, PepsiCo Inc., Suntory Holdings Ltd., The Coca Cola Company, Tingyi (Cayman Islands) Holding Corp., Unilever Group, and Vivid Vitality Ltd. among others.
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The medicinal properties of green tea is notably driving the ready-to-drink green tea market growth, although factors such as the side effects of green tea may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the ready-to-drink green tea industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Ready-To-Drink Green Tea Market Driver
The medicinal properties of green tea is one of the key drivers supporting the ready-to-drink green tea market growth. The antioxidants in green tea help in blocking the oxidation of low-density lipoprotein, the bad cholesterol in the human body. They also help in increasing the high-density lipoprotein levels, which are also referred to as good cholesterol and improve artery functions. Further, the presence of catechin, which is a type of natural phenol, and antioxidants in green tea inhibit the growth, motility, and invasion of cancer cells and stimulate the death of such malignant cells. Such medicinal and functional aspects of green tea have triggered the growth of the overall green tea market, including the RTD segment, globally, with the highest number of consumers from Asian countries.
Key Ready-To-Drink Green Tea Market Trend
Innovative flavors is one of the key trends contributing to the ready-to-drink green tea market growth. Increasing awareness about the health benefits of green tea has raised the number of green tea consumers as well as the consumption rate per capita every year. Ease of preparation is yet another factor driving its consumption. To fulfill such growing demand, suppliers have started coming up with innovative flavors to retain the interest and match the changing taste and preferences of the public. Though traditional flavors such as lemon, raspberry, citrus, peach, and plain green tea have survived the test time, many beverage companies are seeking alternative flavors that are not associated with green tea such as mint, pineapple, apple, strawberry, and chocolate. Such innovations are anticipated to boost the market growth during the forecast period.
Key Ready-To-Drink Green Tea Market Challenge
The side effects of green tea is one of the factors hindering the ready-to-drink green tea market growth. One of the major components of green tea is caffeine. Though caffeine is a stimulant in nature, it is also addictive. It is both water and fat-soluble and is capable of penetrating the blood-brain barrier by dissolving in the bloodstream. Since its structure is similar to that of adenosine, it fits into the receptors of the brain cells and prevents them from receiving adenosine, thereby preventing the feeling of tiredness. At the same time, it triggers the release of stimulant dopamine, which causes a feeling of relaxation or contentment. However, if at any point in time, a regular consumer of caffeine cuts down on its consumption, it leads to a drop in dopamine levels and results in depression. Such health issues will have a negative impact on the market growth during the forecast period.
This ready-to-drink green tea market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the ready-to-drink green tea market as a part of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ready-to-drink green tea market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the ready-to-drink green tea market encompasses successful business strategies deployed by the key vendors. The ready-to-drink green tea market is fragmented and the vendors are deploying growth strategies such as pricing to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The ready-to-drink green tea market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the ready-to-drink green tea market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the food, beverage, and tobacco market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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64% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the ready-to-drink green tea market in APAC. Market growth in this region will be slower than the growth of the market in South America.
The different varieties of coffee and tea available in the market will facilitate the ready-to-drink green tea market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
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The ready-to-drink green tea market share growth by the plastic bottles segment will be significant during the forecast period. Plastic bottles are widely employed for the packing of RTD green tea as beverage suppliers or bottlers have started using polyethylene terephthalate (PET) and other types of plastics that can be down-cycled into secondary products like carpet fibers, pillow stuffing, tote bags, and strapping materials. Moreover, according to the Annapolis-based Flexible Packaging Association, most beverage brands have begun to adapt to sustainable packaging trends to reduce environmental impact. Such initiatives will drive the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the ready-to-drink green tea market size and actionable market insights on post COVID-19 impact on each segment.
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Ready-To-Drink Green Tea Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2019 |
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Forecast period |
2020-2024 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5% |
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Market growth 2020-2024 |
$ 1.08 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
5.15 |
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Regional analysis |
APAC, North America, Europe, MEA, and South America |
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Performing market contribution |
APAC at 64% |
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Key consumer countries |
China, Japan, US, Russian Federation, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Associated British Foods Plc, ITO EN LTD., Keurig Dr Pepper Inc., Nestle SA, PepsiCo Inc., Suntory Holdings Ltd., The Coca Cola Company, Tingyi (Cayman Islands) Holding Corp., Unilever Group, and Vivid Vitality Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Packaging
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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