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Ready to Drink (RTD) Tea And Coffee Market Analysis
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Ready to Drink (RTD) Tea And Coffee Market Analysis
- RTD tea will be the dominant product segment with a demand of more than $84 billion globally by 2024. The enhanced health benefits coupled with increased demand for flavored ice teas are expected to drive market growth.
- Regular price segment products are expected to experience high demand owing to various flavors and economical pricing of the product. The global market value for regular price segment in 2015 was more than $27 billion.
- The foodservice segment is expected to be the fastest-growing distribution channel at a combined annual growth rate (CAGR) of 6.5 percent from 2016 to 2024. A rising trend of restaurant dining coupled with the popularity of cafes and snack parlors is expected to drive market demand. High availability of the product in remote areas is expected to propel market growth over the forecast period.
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Grand View Research