Increasing instances of high blood sugar combined with prevalence of type-2 diabetes and elevated cholesterol levels to enhance preference for unsweetened teas
ROCKVILLE, MD / ACCESSWIRE / February 10, 2021 / Fact.MR's report on the global ice tea market projects a sturdy growth forecast for 2021, as consumers reorient their beverage consumption priorities towards healthier and clean-label alternatives. According to Fact.MR, long-term growth prospects also appear promising, with a projected CAGR exceeding 7% through 2031.
Historical projections have remained robust, exhibiting a growth rate of over 5%. Besides enhancing their sensory experiences, consumers are opting for function-specific iced teas, pertaining to the rising prevalence of chronic ailments such as cancers, heart diseases and high cholesterol. Furthermore, demand for unsweetened ice tea is also expected to go mainstream in forthcoming years. Such trends are compelling ice tea manufacturers to invest in advanced research and development initiatives to introduce new combinations.
According to a study published by the Annals of Internal Medicine, consumption of at least six cups of green tea per day could help reduce the risk of type-2 diabetes by 33%. Consequently, sales of green iced tea infused with catechins are witnessing a sharp incline, as they reduce the effects of insulin resistance by inhibiting digestion an absorption of carbohydrates.
"Prominent manufacturers are incorporating sustainable packaging solutions, such as reusable or recyclable plastic bottles manufactured from materials such as polyethylene terephthalate, with the long-term objective of reducing environmental footprint through reducing accumulation of discarded plastic waste," remarks the Fact.MR analyst.
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Key Takeaways from Fact.MR's Ice Tea Market Study
- By product type, bottled ice teas to register maximum sales, expanding at over 6% CAGR
- CBD-infused tea to gain major traction, attributed to its high anti-inflammatory and antioxidant properties
- Accelerating clean-label movement to fuel organic ice tea sales in the long-term
- U.S to remain a highly attractive market, with over four out of five residents consuming iced tea
- U.K is poised to exhibit significant growth, as perceived health benefits dictate consumer purchases
- Germany and France to demonstrate credible expansion, with fruit-based tea being most preferred
- China and Japan to emerge as key growth hotspots due to an ingrained tea drinking culture
Ice Tea Market- Prominent Drivers
- Ice tea manufacturers are likely to yield immense gains in function-specific variants, attributed to growing demand for health boosting beverages
- Leading brands are emphasizing on attractive packaging to attract a large customer base
- Proliferating demand for organic tea to elevate the global ice tea market expansion prospects
Ice Tea Market- Key Restraints
- Presence of substitutes such as unsweetened or low-sugar sodas, iced beverages and coffee may hinder iced tea consumption
- Many ice tea brands contain artificial sweeteners and synthetic flavoring agents which are unhealthy for the human body
Discover more about the ice tea market with 153 figures and 144 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/ice-tea-market.
Competitive Landscape
Key players profiled in Fact.MR's ice tea market coverage include Unilever, Coca-Cola, Starbucks, Nestle SA, Arizona Beverages, Harris Freeman & Co., Mother Packers, Hangzhou Wahaha Group, Teatulia, BOS Brands, 4C Food Corp, Steaz (Healthy Beverage) and Adagios Tea. These players emphasize on backward integration of their business models to capture a heightened market share, besides introducing new flavors.
In 2019, The Coca Cola Company collaborated with TerraCycle to incorporate refillable bottles and containers across Western Europe for packaging its numerous beverage offerings, including ice tea. The objective is to reduce the amount of plastic waste accumulation across landfills to prevent environmental damage.
Likewise, New Age Beverages Corporation expanded its partnership with Nestle SA which included the broadening of its licensing agreement on NESTEA to incorporate all products under the brand. This includes the NESTEA powdered tea across the United States.
More Valuable Insights on the Ice Tea Market
Fact.MR, in its new offering, presents an unbiased analysis of the global ice tea market. The study divulges essential insights on the ice tea market on the basis of product type (bottled, powdered, and tea bags), tea type (fruit-infused, liquor-infused, CBD-infused, and specialty tea), nature (organic and conventional), price range (economy, mid-range, and premium), and sales channel (HORECA, modern trade, specialty stores, departmental stores, convenience stores, online retailers, and other sales channels), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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