The global Iced Tea Market Growth Accelerated by Increasing Consumption of Healthy Beverages
Iced tea is a refreshing, hydrating beverage that provides
antioxidants and polyphenols. It comes in many flavors and varieties and offers
health benefits like weight management, better digestion and heart health.
The global Iced Tea Market is estimated to be valued at US$
7476.95 Mn in 2024 and is expected to exhibit a CAGR of 2.1% over the forecast period 2024 to 2031, as highlighted
in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the iced
tea market size is the rising popularity of healthy beverages among
health-conscious consumers. Younger demographic prefers beverages that offer
functional benefits in addition to taste and refreshment. With increasing
awareness about benefits of green tea, oolong tea and their antioxidants, there
is a rising demand for ready-to-drink (RTD) iced teas. Manufacturers are
innovating with ingredients like green tea extracts, ginger, citrus fruits to
offer unique flavors and functional positioning to their iced tea products.
They are also focusing on light and low sugar varieties. This shift towards
healthy and natural beverages is expected to continue boosting the demand for
iced tea over the forecast period.
Segment Analysis
The global iced tea market is dominated by the ready-to-drink segment. This
segment holds a majority share as iced tea is highly consumed as a packaged
beverage which provides convenience to consumers. Ready-to-drink iced tea is
available in packaged bottles, cans, and cartons which makes it portable and
easy to carry. This allows consumers to consume it anywhere without requiring
preparation of iced tea. The on-the-go lifestyle coupled with convenience
factors is strengthening the demand for ready-to-drink iced tea.
Key Takeaways
The global iced tea market is expected to witness high growth over the
forecast period of 2024 to 2031. The market size was valued at US$ 7476.95 Mn
in 2024 and is projected to grow at a CAGR
of 2.1% during the forecast period.
Regional analysis
The Asia Pacific region dominated the global iced tea market in 2024 and is
expected to be the fastest growing market during the forecast period. The high
demand for iced tea in countries such as China, Japan, and India is driving the
market in the region. The increasing popularity of flavored iced tea especially
among young consumers is further supporting market growth. Also, leading
players are focusing on expanding in emerging countries of Asia Pacific to
leverage high growth opportunities.
Key players
Key players operating in the iced tea market are Adelaide Brighton Ltd, Boral
Ltd., Sibelco Australia, Omya Australia Pty Ltd, Wagners, Lime Group Australia.
The global iced tea market is a fragmented marketplace where these key players
primarily focus on product innovation and expansion in high growth regions to
gain market share. For instance, in 2020, Boral Ltd launched a new line of
ready-to-drink iced tea with functional health claims to its product portfolio
catering to rising consumer demands.
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