Iced Tea Slated to Penetrate Deeper into Eastern European Countries by 2020 : Ken Research
- The market for Iced / RTD drinks is going strong both in terms of value and volume with an increasing shift towards regional flavors and innovative packaging.
- The industry is forecast to grow faster over the coming years as there is a huge demand for healthy beverages over traditional soda drinks.
- Future forecasts have suggested that leading players will offer more variants of Iced/RTD tea drinks in regional flavors to attract more customers.
Ken Research announced latest publication on, “Iced/Rtd Tea Drinks Consumption Volume And Growth Forecast To 2021-East Europe, which include country-wise coverage of the various products being sold within the Eastern European Iced/RTD tea drinks market. The publication offers insights into the shape the market is projected to take over the next five years. In addition, the report also includes trends within the distribution and packaging divisions of the Iced/RTD drinks market.
With respect to the scope of this report, Iced/RTD tea drinks are either carbonated or non-carbonated products which are manufactured using natural ingredients such as black, green, oolong, barley, rooibos, white and mate tea. The Iced/RTD drinks are available in various forms such as bottles, powders and liquid concentrates that can be diluted with water. Along with tea, these drinks also sometimes contain added flavors from fruits, flower extracts, fruit juices, sweeteners, milk, soy milk and other herbal products. Furthermore, products in this category could either be cold or hot-filled and based on brewed tea or tea extract. This report includes top level Iced/RTD Tea Drinks consumption actual data for 2010-2014, provisional data for 2015; while forecasts are provided for 2016-2021 across 18 individual countries. The countries covered in the report are Belarus, Bosnia, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovak Republic, Slovenia, Turkey, and Ukraine.Overview of Eastern Europe’s Iced/RTD Tea Drinks Industry
In the aftermath of the financial crisis, most parts of Eastern Europe witnessed economic stability in the past five years. A strong manufacturing/service sector has led to opening of more job opportunities and better living conditions for the people. Recent economic outlook on the CEE (Central and Eastern European) region suggests that private-consumption has been picking up as the people are able to spend more on personal expenses. Poland and Romania remain the top performers with the growth rate of 4.2% and 3.6% respectively.
Thus, the positive economic landscape in the region has further resulted in the enhancement of quality of life led by people and demand for products which complement their lifestyle. In this regard, Iced/RTD tea drinks are products that have witnessed exceptional growth. Since real purchasing power of people has increased and there is greater awareness about negative health impacts of traditional soda drinks, healthy beverages such as Iced/RTD tea drinks have become popular. This report uses Canadean’s Intelligence database to provide valuable insights into which growth categories to target, trends in the usage of packaging materials, types and closures by each category and the brand market shares.Future Prospects of Iced/RTD Tea Drinks Market in Eastern Europe
With the increasing number of consumers preferring products that can counter the side-effects of leading a professional life, the Iced/RTD products market is expected to register high growth in the upcoming years. However, both consumers and manufacturers need to keep a check on the fluctuating macroeconomic environment. Recently, the Eastern European countries had to import a large amount of fresh fruits and vegetables because of inhospitable environmental conditions and the Iced/RTD drinks manufacturers were forced raise their prices. As a result, overall sales of Iced/RTD tea drinks market had a setback.
The market is forecast to have a stable growth because of a factors such as increasing inclination of people towards healthy drinks, value-for-money products being launched leading players and high innovation in terms of flavors and packaging. Tremendous opportunities lie for manufacturers to bring out more regional flavors. In addition, deeper penetration into the region can also benefit the sales as a large section of customer segments are still untapped. However, all is not smooth for the Iced/RTD tea drinks manufacturers as the market also faces some weaknesses and threats. Growth might be slow due to uncertain economic conditions in Europe. Additionally, most of the products are premium-priced and may be beyond the reach of growing middle class. Also, there is a possible threat from traditional soft-drinks manufacturers who have achieved high economies of scale and can reduce prices to increase competition for Iced/RTD tea drinks.Key Trends Governing Iced/RTD Tea Drinks in Eastern Europe
- Growing awareness about health benefits of Iced/RTD tea drinks.
- A large number of variants and options leading to greater consumer penetration.
- Niche brands entering the industry leading to both competition and pocket-friendly pricing.
- Detailed profile of Eastern EuropeanIced/RTD tea drinks market
- Consumer demographics, trends and behaviors
- Top 4 consumer trends which will influence Iced/RTD tea drinks consumption
- Value and volume analysis for the Eastern EuropeanIced/RTD tea drinks market
- Historic and forecast consumption in the Eastern EuropeanIced/RTD tea drinks market
- Retail landscape of the Eastern EuropeanIced/RTD tea drinks market
- Packaging landscape of the Eastern EuropeanIced/RTD tea drink market