Iced Tea Market Headed for Growth and Global Expansion by 2025
Iced Tea Market: Segmentation: Iced tea market is segmented on the basis of raw material type, flavour type, packaging type, product type and region. On the basis of raw material type, iced tea market is segmented as black iced tea and green iced tea. Out of these segments, black iced tea market share is more than green iced tea, as black iced tea have strong flavour and taste. But green iced tea market will grow at in forecast period due to increased health concerns and benefits shown by green tea. On the basis of product type, iced tea market is segmented as liquid RTD, Concentrate syrup and premix.
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Among these segments liquid iced tea is most consumed, and represent the steady growth in near future. Powder premixes are available in different sizes, flavours, and convenient to carry and mix, hence premix type is expected to grow in forecast period. Concentrated syrup includes sugar, flavour and tea extract, it is easy to dissolve and easy to use hence its market is expected to grow at healthy CAGR.Iced tea market is segmented as flavour option, like as lemon, peach, passion, mixed berry and other (ginger and herbal). Lemon and peach iced tea are most consumed across the globe. Lemon iced tea is generally made with sugar and lemon juice. Mint and lemon wedge is used as a decorator. Ice tea market is further segmented on the basis of packaging type, like as can packaging, carton pack and PET packaging. In terms of revenue contribution, PET packaging covers maximum market share and expected to be dominant during forecast period.
Iced tea market is segmented on the basis of region includes North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa. North America and Europe are established markets for iced tea. With increasing demands for processed food and ready-to-drink beverages is driving the market and iced tea market is expected to register healthy CAGR during forecast period.
Increased population, disposable income, preference for convenience food and ready-to-drink and ready-to-serve are major drivers for iced tea market growth in forecast period. Green tae has proven health benefits such as, it acts as anti-oxidant, helps in weight reduction and also prevents cancer. Young population is crazy about new products hence companies are launching new variants to attract consumer across the region. For instance, in early 2015, Lipton launched sparkling iced tea in three flavours like lemonade, raspberry and peach. Many quick serving restaurant, bars and hotels are serving iced tea in their menu.
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The key international players operating in iced tea market includes AriZona, BOS Brands (Pty), 4C Foods Corp., Nestea, Harris Freeman, Unilever, Mother Parkers Tea & Coffee Inc., Sweetbird, Templar Food Products and others.
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