Summary

The North American Ready To Drink Tea market is forecasted to value at 9439.13 million USD in 2024 growing at a CAGR of 4.3%.

Key Highlights
The health benefits of tea over carbonated and soft drinks and the convenience of Ready To Drink tea over traditional tea are the major factors driving the market. The presence of various substitutes such as energy drinks, other RTD drinks, etc. are the major restraints of the market.
Innovations at ingredient levels like a combination of ingredients, introducing new flavors, etc. are done in order to attract the customers. The increasing health concerns are also a restraint since the product contains sugars, synthetic preservatives, artificial colors etc. The U.S is the leader in North American Ready To Drink Tea Market.


Key Market Trends

Black Tea Is The Most Consumed Tea

Black Tea is North America’s favorite tea, black teas usually have a very rich flavor because of their long processing times. Sun tea, sweet tea, iced tea, afternoon tea, etc. these well-known categories of tea are typically made using black tea. Black tea is grown and processed all over the world in varying geographies and climates. Three of the largest producers of black tea today are India, Sri Lanka, and Africa. The tea’s variety, convenience, health benefits, sustainability, availability, continued innovation and the discovery of unique, flavorful and high-end specialty tea are the major factors driving the market. It contains no sodium, fat, carbonation, or sugar. It is virtually calorie-free. It helps maintain proper fluid balance and may contribute to overall good health.

Canada is the fastest growing market in North America Ready To Drink Tea

Canada Ready To Drink Tea market was valued at 620 million USD in 2018 and is growing at a CAGR of 5.6%. As people become aged they go for more healthy diet options. Canada is having around 48% of its population above the age of 45. Ready To Drink tea is also becoming a growing trend among the youngsters too due to its health benefits and as a substitute for carbonated drinks. Manufacturers are also trying to introduce Tea with clean label ingredients to attract health-conscious consumers. Canada Ready To Drink Tea market has also witnessed the introduction of new types of packaging and new flavors such as Blackcurrant and Blueberry Mint Green Tea. Players are also trying to expand their product base with new combination of ingredients and flavors.

Competitive Landscape

North American Ready To Drink Tea market is highly consolidated and highly competitive. The market is dominated by few major players. The major players have global reach and have a stronger distribution channel. PepsiCo and Coca-Cola Arizona Beverages, Dr. Pepper Snapple, Starbucks, and New Age Beverages enjoy a significant share in the market.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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