Ready-to-Drink (RTD) Tea - Nordics

The Ready-to-Drink (RTD) Tea market in Nordics has been experiencing significant growth in recent years. Customer preferences in the Nordics have been shifting towards healthier beverage options, which has contributed to the rise in demand for RTD tea. Consumers are becoming more health-conscious and are actively seeking out beverages that are low in sugar and calories. RTD tea offers a refreshing and low-calorie alternative to carbonated soft drinks, making it a popular choice among health-conscious individuals. Additionally, the convenience factor of RTD tea appeals to busy consumers who are looking for on-the-go options. Trends in the market indicate that the RTD tea segment is expanding rapidly in the Nordics. Market players are introducing a wide range of flavors and varieties to cater to diverse consumer preferences. Traditional tea flavors such as green tea and black tea continue to be popular, but there is also a growing demand for innovative and exotic flavors. Manufacturers are incorporating ingredients such as fruits, herbs, and spices to create unique flavor profiles that appeal to the Nordic palate. Local special circumstances in the Nordics also contribute to the growth of the RTD tea market. The region has a strong tea-drinking culture, with tea being a popular beverage choice for many Nordic consumers. This cultural affinity towards tea has created a favorable environment for the growth of the RTD tea market. Additionally, the cold climate in the Nordics makes hot beverages a popular choice, and RTD tea provides a convenient and refreshing alternative to hot tea. Underlying macroeconomic factors also play a role in the development of the RTD tea market in the Nordics. The region has a high disposable income and a strong economy, which allows consumers to spend more on premium and healthier beverage options. Furthermore, the Nordic countries have a high level of awareness and concern for environmental sustainability. This has led to an increased demand for organic and sustainably sourced products, including RTD tea. Market players are capitalizing on this trend by offering organic and ethically sourced RTD tea options. Overall, the Ready-to-Drink (RTD) Tea market in the Nordics is thriving due to changing customer preferences towards healthier beverages, the introduction of new flavors and varieties, the region's tea-drinking culture, favorable local circumstances, and strong underlying macroeconomic factors.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.