The North America Ready to Drink Tea and Coffee Market would witness market growth of 5.9% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 5,144.1 thousand litres, showcasing a growth of 5.6% (2019-2022).
The rise of plant-based diets has influenced the ready to drink tea and coffee market. Plant-based and non-dairy alternatives, such as almond, oat, and coconut milk, are increasingly used in RTD coffee and tea products to cater to vegan and lactose-intolerant consumers. Brands are continuously innovating with flavor profiles to capture consumer interest. Unique and exotic flavor combinations, botanical infusions, and regional-inspired blends are gaining popularity, offering consumers diverse taste experiences.
Sustainability is a key focus in the beverage industry. There's a trend toward eco-friendly and sustainable packaging options, including recyclable materials, compostable packaging, and efforts to minimize environmental impact. Cold brew coffee and nitro-infused beverages continue to gain traction. The cold brew process, known for its smooth and less acidic flavor, appeals to consumers seeking a different coffee experience, while nitro infusion adds a creamy and effervescent texture.
Blending tea and coffee with other beverage categories is a trend, leading to hybrid products. Tea-infused energy drinks, coffee-flavored sodas, and other cross-category innovations cater to diverse consumer preferences. As lifestyles become more fast-paced, there's a continued emphasis on convenience. RTD beverages in on-the-go packaging, including single-serve bottles and cans, cater to consumers looking for quick and portable refreshment options.
Furthermore, increased online shoppers mean retail e-commerce sales in Canada continue to climb. E-commerce retail trade sales in Canada amounted to an all-time high of US$3.82 billion in December 2020. The value of e-commerce transactions reached an estimated $2.34 billion in March 2022. Retail e-commerce sales are estimated to total US$40.3 billion by 2025. Therefore, the expansion of the e-commerce industry and the rising food processing industry in the region are propelling the market's growth.
The US market dominated the North America Ready to Drink Tea and Coffee Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $29,995.6 Million by 2030. The Canada market is registering a CAGR of 8.3% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 7.3% during (2023 - 2030).
Free Valuable Insights: The Ready to Drink Tea and Coffee Market is Predict to reach USD 161.6 Billion by 2030, at a CAGR of 6.3%
Based on Packaging Type, the market is segmented into PET Bottle, Canned, Glass Bottle, and Others. Based on Type, the market is segmented into RTD Tea, and RTD Coffee. Based on Price, the market is segmented into Economy, and Premium. Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Food Service, AND Online. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Packaging Type (Volume, Thousand Litres, USD Billion, 2019-2030)
By Type (Volume, Thousand Litres, USD Billion, 2019-2030)
By Price (Volume, Thousand Litres, USD Billion, 2019-2030)
By Distribution Channel (Volume, Thousand Litres, USD Billion, 2019-2030)
By Country (Volume, Thousand Litres, USD Billion, 2019-2030)
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