by Iced Tea is a popular and refreshing beverage that is prepared by infusing tea leaves in water or other non-alcoholic liquid and cooling it before serving. It offers various health benefits such as reducing the risk of cancer, heart disease, and diabetes due to its antioxidant properties.
The global Iced Tea Market is estimated to be valued at US$ 6490.4 Mn in 2024 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 growing awareness regarding the health benefits of tea is driving the growth of the iced tea market. Iced tea is rich in polyphenols and other antioxidant compounds that help reduce the risk of various chronic diseases. Regular consumption of iced tea is linked to lower blood pressure and cholesterol levels. It protects cells from damage and slows down aging. The health-conscious consumers are increasingly opting for iced tea as a healthier substitute to carbonated soft drinks. Diet and herbal iced teas containing no calories are gaining popularity among diabetics and weight watchers. This increasing focus on health and wellness is expected to propel the demand for iced tea over the forecast period.
SWOT Analysis
Strength: In recent years, the demand for iced tea has grown significantly due to rise in health awareness. Iced tea is known to provide hydration and contains antioxidants which can boost immunity.
Weakness: High sugar content in flavored iced tea poses health concerns like obesity and diabetes. Dependence on weather impacts sales of iced tea seasonally.
Opportunity: Product innovation through introduction of functional iced teas like detox, wellness flavors can attract health conscious consumers. Emerging markets like Asia Pacific offer scope for market expansion.
Threats: Stiff competition from soft drinks and juices influences consumer preferences. Weather fluctuations and climate change impact demand unpredictably.
Key Takeaways
The Global Iced Tea Market Size is expected to witness high growth. The global Iced Tea Market is estimated to be valued at US$ 6490.4 Mn in 2024 and is expected to exhibit a CAGR of 2.1% over the forecast period 2023 to 2030.
Regional analysis related content comprises The Asia Pacific region dominates the iced tea market currently due to high consumption in countries like China and India. Strong economic growth, rising disposable incomes, hot climate and influence of western culture positively impact sales here. North America is another prominent market for iced tea owing to high popularity of the beverage in countries like US.
Key players related content comprises 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 players focus on launching new flavors, expanding distribution to tap the vast potential.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
