Ready to Drink (RTD) Tea and Coffee Market Size

Ready to Drink (RTD) Tea and Coffee Market size was valued at USD 107.95 billion in 2023 and is anticipated to reach USD 238.87 billion by the end of 2036, expanding at around 6.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ready to drink tea and coffee is assessed at USD 113.39 billion.

The growth of the market can be ascribed to the growing awareness regarding the health hazards of carbonated drinks and the changing dietary preferences of individuals worldwide. The soft drink consumption in the U.S. has declined by more than 20% owing to the rising consciousness of people to consume health beneficial products. Furthermore, increasing disposable income in developed economies is another factor estimated to fuel the market growth. Along with these, creative branding and marketing strategies of food and beverage companies are also evaluated to offer opportunities for the progress of the market.

Frequently Asked Questions (FAQ)

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.

Ready to Drink (RTD) Tea and Coffee Market Size