Growing concern for health amongst individuals worldwide and the changing dietary preferences are some of the major factors anticipated to drive the growth of the market.
The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2021-2029.
Frequently changing prices of the raw materials used to manufacture RTD tea and coffee, and the higher production cost of RTD drinks than ground coffee and tea leaves are estimated to hamper the market growth.
Asia Pacific region has more business opportunities for growth of RTD tea and coffee market owing to the high number of tea and coffee plantations in the region.
The major players in the market are Nestle S.A., The Coca Cola Company, PepsiCo Inc., Suntory Beverage & Food Limited, Danone S.A. and others.