Global Iced Tea Market By Product Type (Black Iced Tea and Green Iced Tea), Form (Liquid, Powder and Premix), Application (Residential, Commercial), Nature (Organic Tea, Conventional Tea), Sales Channel (Hypermarket/Supermarket, Convenience Store, Drug Stores, Specialty Stores, Traditional Grocery Store, Online Stores) – Industry Trends and Forecast to 2029.
Iced Tea Market Analysis and Size
Tea is a beverage native to China and India that consists of dark green leaves and white flowers. Iced tea premixes eventually became a new product containing various healthy components such as vitamins and polyphenols. Today, tea premixes have netted a significant amount of market worldwide due to rising dietary preferences among consumers combined with a busy lifestyle.
Data Bridge Market Research analyses that the Iced Tea market which was valued at USD 46.66 billion in 2021 is expected to reach the value of USD 79.57 billion by 2029, at a CAGR of 6.90% during the forecast period.
Market Definition
Iced tea is a chilled version of sweetened tea that is devoid of milk and flavored with lemon. It is typically served in a glass with ice and can refer to any chilled or cooled tea. Sugar, syrup, and/or apple slices can be used to sweeten it. It is also a popular packaged drink that can be mixed with flavored syrup in a variety of flavors such as lemon, raspberry, lime, passion fruit, peach, orange, strawberry, and cherry.
Iced Tea Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Black Iced Tea and Green Iced Tea), Form (Liquid, Powder and Premix), Application (Residential, Commercial), Nature (Organic Tea, Conventional Tea), Sales Channel (Hypermarket/Supermarket, Convenience Store, Drug Stores, Specialty Stores, Traditional Grocery Store, Online Stores)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Poland, Sweden, Denmark, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Hong Kong, Philippines, New Zealand, Taiwan, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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The Coffee Bean & Tea Leaf (U.S) Unilever (U.K), Gourmesso (U.S), Harney & Sons Fine Teas (U.S), Dualit (U.K), Nestlé SA (Switzerland), Dilmah Ceylon Tea Company PLC (Sri Lanka), Ippodo Tea Co. Ltd. (China), Tranquini (U.S), Chillbev (U.S), Som Sleep.(U.S), Phi Drinks, Inc.(U.S), BevNet.com (U.S)
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Opportunities
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Iced Tea Market Dynamics
Drivers:
- Rising consumption of iced tea due to its nutritional benefits
Iced tea has numerous nutritional benefits, which has led to a large portion of the population preferring it over other drinks. There are numerous companies that sell detoxifying iced tea leaves. This factor and the general public's willingness to try new beverages and cuisines are expected to drive the global iced tea market. Furthermore, the idea that drinking iced tea regularly may reduce the risk of developing cancer encourages people to buy and drink it on a regular basis. Furthermore, because tea is a popular drink in almost every region, the introduction of a chilled variety drew additional investors, which is expected to contribute to the growth of the global iced tea market.
- Shift in the lifestyle as well as growing demand from the personal care industry
Some of the factors expected to fuel global market growth during the forecast period include an increasing working population, rising demand for ready-to-use products, and expanding retail markets. The increasing use of tea as a natural ingredient in the personal care industry is expected to drive growth in the global tea capsule market. Furthermore, rising disposable income levels, rising food and beverage expenditure, and rising consumer awareness of healthy lifestyles are some of the other factors expected to drive instant tea market growth.
Opportunity
It has been observed in recent years that consumers are becoming more aware of the manufacturing of the products they purchase and the origins of their purchases. This is especially true in the supply chain of food and beverage products. As a result, consumers are eager to find certified instant tea products to ensure the legitimacy of their purchases. Consumers' concerns about poverty, social injustice, and environmental destruction have fuelled a growing market for 'certified' and ‘sustainable' food and beverage brands and labels. Nonetheless, the introduction of new fruit flavours into the iced tea market, such as lemon and peach flavours, is gaining traction. It is expected to boost market growth in the coming years. Furthermore, the introduction of sugar-free iced tea flavours is expected to drive overall market growth during the forecast period.
Restraints
The major restraints of this market are an increase in the trend of coffee consumption and fluctuating raw material prices caused by unpredictable climatic conditions. On the contrary, the market is expected to grow due to increased demand for herbal tea and new flavours and varieties of iced tea. Furthermore, the industry's key players have adopted a marginal pricing strategy, which is expected to stifle overall market growth. The market's growth is also expected to be hampered by a lack of awareness about iced tea.
This iced tea market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Iced Tea market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Iced Tea Market
COVID 19 did contribute to an increase in the market for iced tea. People preferred to use the non-store-based segment for getting their products at home because they were not leaving their homes because of the governments' precautionary instructions for COVID; the store-based segment was not widely preferred at the time. COVID has still resulted in the market and its key players doing well during the lockdown months. Furthermore, once the situation was stabilised, the store-based distribution channel segment resumed its normal sales rate. However, the impact on the manufacturing unit was significant in the early months of 2020. Because of the high demand, the supply rate could not keep up.
Recent Development
- For example, in 2019, The Coca-Cola Company partnered with TerraCycle to offer customers in Western Europe the ability to use refillable containers for a variety of beverages, including ice teas, through a European retailer.
- In addition, Nestle SA switched to 23 ounce PET bottles in 2019 and significantly improved the quality of tea produced under the new leadership in America to reclaim its domestic market dominance.
Global Iced Tea Market Scope
The iced tea market is segmented on the basis of product, application, form, nature and sales channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Black Iced Tea
- Green Iced Tea
Form
- Powder
- Paste
- Granules
Nature
- Organic tea
- Conventional tea
Application
- Residential
- Commercial
Sales channel
- Hypermarket/Supermarket
- Convenience Store
- Drug Stores
- Specialty Stores
- Traditional Grocery Store
- Online Stores
Iced Tea Market Regional Analysis/Insights
The iced tea market is analysed and market size insights and trends are provided by country, product, application, form, nature and sales channel as referenced above.
The countries covered in the iced tea market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Poland, Sweden, Denmark, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Hong Kong, Philippines, New Zealand, Taiwan, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The Asia-Pacific iced tea market is expected to account for a significant revenue share of the target market. Growing production and sales of tea in the region's countries China, Japan, and India, owing to the products' anti-aging and detoxifying properties, as well as rising tea consumption among people of all ages and genders is expected to drive market growth in Asia Pacific. Another factor expected to drive target market growth is an increase in the number of tea retail outlets. The North America market is expected to grow at a faster rate due to increased demand and consumption of green tea, as well as higher per capita tea consumption in the region, which is expected to be a major factor driving North America tea capsule market growth.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Iced Tea Market Share Analysis
The iced tea market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to iced tea market.
Some of the major players operating in the iced tea market are:
- The Coffee Bean & Tea Leaf (U.S)
- Unilever (U.K)
- Gourmesso (U.S)
- Harney & Sons Fine Teas (U.S)
- Dualit (U.K)
- Nestlé SA (Switzerland)
- Dilmah Ceylon Tea Company PLC (Sri Lanka)
- Ippodo Tea Co. Ltd. (China)
- Tranquini (U.S)
- Chillbev (U.S)
- Som Sleep (U.S)
- Phi Drinks, Inc.(U.S)
- BevNet.com (U.S)
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