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Bottled tea market projected to reach $78 billion by 2033: Report
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Tuesday, 23 January, 2024, 14 : 00 PM [IST]
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Our Bureau, Mumbai
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The global bottled tea market refers to packaged ready-to-drink teas distributed through retail channels worldwide. Key product categories include black tea, green tea, herbal tea, matcha tea and others like oolong and white tea. The market caters to rising on-the-go consumption demands for convenient and healthy beverage options.
The bottled tea market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 4.5% from 2023 to 2033. With a valuation of US$50 billion in 2023, it is projected to achieve a market size of US$78 billion by the conclusion of 2033.
Bottled tea allows consumers to enjoy favourite tea preparations without the hassle of steeping leaves. Innovative combinations of tea extracts, fruits, herbs, vitamins and supplements within attractive packaging create a premium perception that supports higher price points for manufacturers versus other mass beverage categories.
Urban professionals are the primary target demographic owing to on-the-go lifestyles and rising health-consciousness. Marketers thus emphasise functional benefits around antioxidants, vitamins, and natural energy alongside great taste. Distribution through professional workplaces and fitness centres builds consumption occasion awareness aligned to white-collar wellness trends.
Rising competition from alternative beverages including energy drinks, coffees, health drinks and even water compel bottled tea brands to launch innovative offerings aligned to emerging consumer priorities around functional ingredients, sugar reduction, unique flavours, organic positionings and sustainable packaging.
Many incumbents now focus on developing specialist products like kombucha-infused teas targeting niche health segments. Premiumisation also remains a key strategy, seen in high minimum order volumes that enhance the category's aspirational status. International expansion to realise growth opportunities within markets like Western Europe and Latin America also features prominently.
Mergers & acquisitions similarly allow smaller tea brands to leverage the distribution might of bigger beverage corporations. Independent brands in turn help conglomerates augment their innovation pipelines and brand portfolios.
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