According to a new report published by AkVis Intelligence, titled, “Iced Tea Market by Product Type, Form, Packaging Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the Global Iced Tea market size was valued at USD 6370.75 Million in 2023, and is projected to reach USD 10854.98 Million by 2032, registering a CAGR of 6.1% from 2024 to 2032. Iced tea is tea leaves steeped in hot water and then cooled down to be served cold, either refrigerated or with ice. It is possible to add sugar, lemon, or fruit syrup, as well as use different teas for flavoring. Popular in tropical areas, it is enjoyed in restaurants, cafes, and homes during hot weather.
Cold tea, such as iced tea, is a well-liked and revitalizing drink that can satisfy dehydration and offer nutrients, serving as a better option than high-calorie beverages. Iced tea, being versatile, can be incorporated into a variety of recipes and cocktails to provide different flavors and health benefits based on the tea type. Readily found in numerous locations, iced tea is a convenient option for quenching thirst and savoring a tasty beverage.
Consumers are looking for convenience because of their hectic schedules. Pre-made iced tea offers a convenient and revitalizing choice with no preparation necessary. Its ability to be easily carried makes it perfect for different environments, attracting health-conscious people looking for a healthier option than sugary beverages. Businesses in the industry utilize strategic marketing to highlight the ease and attractiveness of their products by employing smart packaging and advertising.
Companies are broadening their range of drinks by incorporating distinct and advantageous tastes to cater to the varied consumer base. They are adding natural antioxidants and vitamins to iced teas to appeal to customers who are focused on their health. Furthermore, businesses are implementing sustainable packaging options to attract environmentally conscious customers and decrease their ecological footprint. Furthermore, providing customization choices enables people to make personalized mixes and tweak levels of sweetness for a better drinking experience.
Global Iced Tea Market, Segmentation
The Iced Tea market is segmented based on Product Type, Form, Packaging Type, Distribution Channel, and region.
Form:
Liquid iced tea, in bottled, canned, and Tetra pack forms, provides consumers with a convenient and time-saving choice. In comparison to powdered iced tea, this option offers a uniform taste and flavor profile, making it attractive to individuals seeking a dependable drinking experience.
The convenience of liquid iced tea appeals to on-the-go customers, offering creative packaging choices such as bottles that can be resealed and distinctive caps for added excitement. The liquid market sector remains creative in developing new flavors and packaging options to meet changing consumer tastes.
Packaging Type:
Bottles are frequently utilized for containing iced tea because they are convenient and portable in a range of sizes, making them suitable for busy individuals. They are created to preserve the freshness of products by utilizing materials such as glass or PET to ensure a longer shelf life. They support sustainability and decrease environmental impact by being both reusable and recyclable.
Businesses are moving towards sustainable packaging to attract customers who care about the environment. In general, bottles provide a convenient and eco-friendly method to enjoy cold tea whenever you want, due to their efficient ability to keep the tea fresh.
Region:
The consumption of iced tea is deeply rooted in North American culture, creating a continuous need for iced tea products as a better option than sugary beverages. The market provides a range of products to meet various preferences, with major beverage companies concentrating on innovation. The industry has benefited from the popularity of pre-prepared drinks, which offer consumers convenient options. The retail industry in North America, which includes supermarkets and online platforms, guarantees widespread availability and ease of access to iced tea products.
Some of The Active Market Players Are-
- Nestle SA (Switzerland)
- The Coca-Cola Company (USA)
- PepsiCo Inc. (USA)
- Unilever N.V. (Netherlands/UK)
- Arizona Beverage Company (USA)
- Harney & Sons Fine Teas (USA)
- Snapple Beverage Corp. (USA)
- The Republic of Tea (USA)
- Lipton (Unilever) (Netherlands/UK)
- Celestial Seasonings (Hain Celestial Group) (USA)
- Sweet Leaf Tea Company (USA)
- The Hain Celestial Group, Inc. (USA)
- Turkey Hill Dairy (USA)
- Luzianne (Reily Foods Company) (USA)
- Tejava (USA), and Other Active Players.
Key Industry Developments
- May 2024: High Noon Spirits Company launched High Noon Vodka Iced Tea, made with real vodka, real iced tea, and no added sugar. These High Noon's new non-carbonated, gluten-free hard teas are available in four essential summer flavors – Original, Peach, Lemon, and Raspberry.
- November 2023: Coca-Cola India launched 'Honest Tea' an Iced Green Tea, a brand owned by Honest, Inc., a subsidiary of The Coca-Cola Company. Honest Tea is a refreshing, Organic Green tea-based drink. Honest Tea comes in two refreshing flavors, Lemon-Tulsi and Mango.
Key Findings of the Study
- Consumers prioritize convenience in their fast-paced lives, leading to increased demand for prepared iced tea options.
- Iced tea companies explore eco-friendly options like plant-based materials and recyclable bottles to align with consumer demands for sustainability.
- Portable iced tea caters to busy, fast-paced consumers with resealable bottles, shaped containers, and unique cap designs for excitement.
- In North America, the tradition of drinking iced tea fuels demand, as consumers seek healthier alternatives to sugary beverages.
