Iced Tea Market Research Report 2024
Iced Tea Market Global Industry Analysis and Forecast (2024-2032) By Product Type (Black Tea, Green Tea, Herbal Tea, Flavored Tea), Form (Powder, Liquid), Packaging Type (Bottles, Cans, Tetra Packs, Pouches), Distribution Channel (Retail Stores, Foodservice Providers, Online Retailers, Vending Machines), And Region
Iced Tea Market Synopsis
Iced Tea Market Size Was Valued at USD 6370.75 Million in 2023, and is Projected to Reach USD 10854.98 Million by 2032, Growing at a CAGR of 6.1% From 2024-2032.
Iced tea is tea leaves brewed in hot water and served cold, either chilled or over ice. Adding sugar, lemon, or fruit syrup and using other teas for flavoring is possible. Favored in tropical regions, it is savored in dining establishments, coffee shops, and residences when the temperature rises. Cold tea is highly appreciated for its ability to refresh and quench thirst, especially in warm temperatures. Iced tea is a more nutritious option compared to sugary sodas or high-calorie drinks.
Iced tea has the potential to be used as a component in many different dishes by serving as a foundation for cocktails, mocktails, and flavored drinks, enhancing their flavor profiles with depth and complexity. Iced tea's various flavors such as fruit-infused, mint, and herbal options, can pair well with a wide range of dishes.The antioxidants and beneficial compounds found in tea leaves can make iced tea rich in these components, which vary depending on the type of tea used and promote overall health.
Iced tea can be found easily as a prepared drink in numerous retail outlets, coffee shops, and dining establishments. The convenience of it makes it a top choice for people looking for a fast and readily available refreshing beverage. The global tea market was valued at around 95.5 billion U.S. dollars in 2018, and was valued at 120.7 billion dollars by 2023. This shows tea has a long history of popularity worldwide.
Top Active Players Involved 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), Gold Peak Tea (The Coca-Cola Company) (USA), Tradewinds Beverage Co. (USA), Pure Leaf (Unilever) (Netherlands/UK), Steaz (The Healthy Beverage Company) (USA), Keurig Dr Pepper Inc. (USA), BOS Brands (South Africa), Honest Tea (USA), Teavana (USA), T2 Tea (Australia), Tetley (Tata Global Beverages) (India/UK), and Other Active Players.”
Iced Tea Market Trend Analysis
Growing Demand for Convenient Drinks
- Due to the hectic and fast-paced lives of consumers, there has been a growing focus on convenience. Prepared iced tea offers a convenient option for people looking for a quick and refreshing drink without the hassle of making it themselves.
- The portable nature of iced tea makes it suitable for consumption in various settings, including work, travel, outdoor activities, or social gatherings and its versatile packaging options make it easy to carry.
- Iced tea offers a lower-calorie alternative to sugary soft drinks or artificial fruit juices, appealing to health-conscious individuals. Iced tea is widely available in single-serve bottles, cans, or tetra packs.
- Companies in the iced tea market have utilized effective marketing and branding strategies to highlight the convenience and lifestyle appeal of their products with clever packaging, eye-catching designs, and targeted advertising campaigns.
Opportunity
Innovations in Product & Product Packaging
- The addition of novel and distinctive tastes has broadened the choices accessible to customers. This new development enables businesses to access various market sectors and offers consumers a broader selection of options.
- By providing iced teas infused with beneficial features, businesses can meet the needs of customers looking for revitalizing beverages that promote holistic health. They can provide iced tea by adding natural antioxidants, vitamins, and herbal ingredients.
- Iced tea companies are looking into environmentally friendly packaging alternatives such as recyclable bottles, materials derived from plants, and packaging produced from renewable resources. These efforts not only coincide with consumers' desire for sustainability but also help decrease the industry's environmental footprint.
- Companies are offering options for consumers to create their own blends, mix different flavors, and adjust sweetness levels which allows individuals to tailor their iced tea according to their preferences, promoting a more personalized and enjoyable drinking experience.
Iced Tea Market Segment Analysis:
The iced tea market is segmented on the basis of Product Type, Form, Packaging Type, and Distribution Channel.
By Form, Liquid Segment Is Expected to Dominate the Market During the Forecast Period
There are two segments by form such as powder, and liquid. Among these, the liquid segment is expected to dominate the market during the forecast period.
- Liquid iced tea is easy to prepare and requires no preparation time making itself a good option for consumers who prioritize convenience and time-saving options. It is widely available in various forms, including bottled, canned, and Tetra packs.
- Liquid iced tea has a more consistent taste and flavor profile compared to powdered iced tea which appeals to consumers who seek a reliable and enjoyable drinking experience.
- The liquid iced tea is a more portable and on-the-go option. This portability aligns with the preferences of busy, fast-paced consumers. The innovative packaging options such as resealable bottles, shaped containers, and unique cap designs appeal to consumers seeking novelty and excitement.
- The liquid segment of the iced tea market has witnessed significant innovation in terms of flavor and packaging options, catering to evolving consumer preferences.
By Packaging Type, Bottles Segment Held the Largest Share In 2023
There are four segments by packaging type such as bottles, cans, tetra packs, and pouches. Among these, the bottles segment held the largest share in 2023.
- Bottles are commonly used for packaging iced tea because they are convenient and easy to carry. They come in different sizes, making them convenient to transport and ideal for people with busy schedules.
- Bottles are created to preserve the freshness and quality of the product, utilizing materials such as glass or PET which offer strong barrier properties for longer shelf life. Numerous bottles can be reused or recycled, encouraging sustainable practices and decreasing environmental effects.
- Companies are also embracing sustainable packaging materials to attract customers who care about the environment. In general, bottles provide a convenient and eco-friendly option for enjoying chilled tea on the go whenever you want.
- The packaging materials used, such as glass or PET ensure that consumers can enjoy a refreshing bottle of iced tea even after some time from purchase.
Iced Tea Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast Period
- North America has a long-standing tradition of consuming iced tea which contributes to the sustained demand for iced tea products in the region. With concerns over sugary carbonated drinks, more consumers are preferring iced tea as a refreshing and relatively healthier alternative.
- The North American market for iced tea offers a wide range of product offerings catering to diverse consumer preferences. North America is home to several prominent and influential beverage companies that continuously focus on innovation and product development.
- The rise in popularity of pre-prepared drinks, influenced by convenience, limited time, and evolving consumer tastes, has had a beneficial effect on the North American iced tea industry. Ready-made iced tea provides consumers with a convenient option to enjoy their favourite drink without any preparation needed.
- North America has a strong retail sector, comprising of supermarkets, convenience stores, and online platforms. These channels offer wide distribution coverage and ease of access to customers, making iced tea products readily available and visible throughout the area.
Iced Tea Market Active Players
- 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)
- Gold Peak Tea (The Coca-Cola Company) (USA)
- Tradewinds Beverage Co. (USA)
- Pure Leaf (Unilever) (Netherlands/UK)
- Steaz (The Healthy Beverage Company) (USA)
- Keurig Dr Pepper Inc. (USA)
- BOS Brands (South Africa)
- Honest Tea (USA)
- Teavana (USA)
- T2 Tea (Australia)
- Tetley (Tata Global Beverages) (India/UK) and Other Active Players.
Key Industry Developments in the Iced Tea Market:
- In 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.
- In 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.
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Iced Tea Market |
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Base Year: |
2023 |
Forecast Period: |
2024-2032 |
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Historical Data: |
2017 to 2023 |
Market Size in 2023: |
USD 6370.75 Mn. |
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Forecast Period 2024-32 CAGR: |
6.1 % |
Market Size in 2032: |
USD 10854.98 Mn. |
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Segments Covered: |
By Product Type |
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By Form |
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By Packaging Type |
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By Distribution Channel |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Chapter 1: Introduction
1.1 Scope and Coverage
Chapter 2:Executive Summary
Chapter 3: Market Landscape
3.1 Market Dynamics
3.1.1 Drivers
3.1.2 Restraints
3.1.3 Opportunities
3.1.4 Challenges
3.2 Market Trend Analysis
3.3 PESTLE Analysis
3.4 Porter's Five Forces Analysis
3.5 Industry Value Chain Analysis
3.6 Ecosystem
3.7 Regulatory Landscape
3.8 Price Trend Analysis
3.9 Patent Analysis
3.10 Technology Evolution
3.11 Investment Pockets
3.12 Import-Export Analysis
Chapter 4: Iced Tea Market by By Product Type
4.1 Iced Tea Market Snapshot and Growth Engine
4.2 Iced Tea Market Overview
4.3 Black Tea
4.3.1 Introduction and Market Overview
4.3.2 Historic and Forecasted Market Size in
Frequently Asked Questions
What would be the forecast period in the Iced Tea Market research report?
The forecast period in the Iced Tea Market research report is 2024-2032.
Who are the key players in the Iced Tea Market?
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), Gold Peak Tea (The Coca-Cola Company) (USA), Tradewinds Beverage Co. (USA), Pure Leaf (Unilever) (Netherlands/UK), Steaz (The Healthy Beverage Company) (USA), Keurig Dr Pepper Inc. (USA), BOS Brands (South Africa), Honest Tea (USA), Teavana (USA), T2 Tea (Australia), Tetley (Tata Global Beverages) (India/UK), and Other Active Players.
What are the segments of the Iced Tea Market?
The Iced Tea Market is segmented into Product Type, Form, Packaging Type, Distribution Channel, and region. By Product Type, the market is categorized into Black Tea, Green Tea, Herbal Tea, and Flavored Tea. By Form, the market is categorized into Powder and liquid. By Packaging Type, the market is categorized into Bottles, Cans, Tetra Packs, and Pouches. By Distribution Channel, the market is categorized into Retail Stores, Foodservice Providers, Online Retailers, and Vending Machines. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
What is the Iced Tea Market?
Iced tea is tea leaves brewed in hot water and served cold, either chilled or over ice. Adding sugar, lemon, or fruit syrup and using other teas for flavoring is possible. Favored in tropical regions, it is savored in dining establishments, coffee shops, and residences when the temperature rises.
How big is the Iced Tea Market?
Iced Tea Market Size Was Valued at USD 6370.75 Million in 2023, and is Projected to Reach USD 10854.98 Million by 2032, Growing at a CAGR of 6.1% From 2024-2032.
