Iced tea is a widely consumed beverage that contains fine brewed tea leaves which have been steeped or infused in hot water and then cooled or chilled. The beverage comes in various flavors and provides numerous health benefits such as hydration, antioxidants, reduced risk of cancer, and weight management. Rapid urbanization and hectic lifestyle have increased the demand for ready-to-drink beverages. This, in turn, has propelled the growth of the global iced tea market.

The global Iced Tea Market is estimated to be valued at Us$ 6,490.4 Mn in 2023 and is expected to exhibit a CAGR Of 2.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increased consumption of ready-to-drink beverages is one of the key trends driving the growth of the global iced tea market. Ready-to-drink beverages are highly convenient to consume on-the-go owing to their portable packaging such as bottles and cans. The rising health consciousness among consumers has boosted the demand for chilled beverages with functional benefits. Iced tea offers several health advantages such as increased hydration and presence of antioxidants. Therefore, the rising awareness about the health impact of iced tea has significantly contributed to the growing product demand over the years. The availability of iced tea in various flavors has also augmented its attractiveness among consumers.

Segment Analysis

The global iced tea market is dominated by the ready-to-drink tea sub-segment. The ready-to-drink teas segment accounts for over 60% of the total market share owing to convenience and growing popularity among younger consumers. The ready-to-drink teas are available in packaging formats like bottles and cans which make them portable and easy to consume.

Key Takeaways

The Global Iced Tea Market Demand  is expected to witness high growth over the forecast period.

Regional Analysis:

North America currently dominates the global iced tea market with over 40% share. The US consumes the highest volume of iced tea globally due to hot weather conditions. The growing health consciousness among consumers regarding sugar content has led companies to innovate low-calorie and natural options in the region, which is fueling market growth.

Key players operating in the iced tea market are Adelaide Brighton Ltd, Boral Ltd., Sibelco Australia, Omya Australia Pty Ltd, Wagners, and Lime Group Australia. These key players are focusing on expansion of production facilities and new product launches catering to changing consumer preferences to gain market share.

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