ICED TEA MARKET ANALYSIS
Market Trends
According to the India Brand Equity Foundation the global Ready To Drink tea market was valued at around US$ 24.5 Bn and the market is projected to witness significant growth during the forecast period. RTD teas are gaining significant traction among consumers due to their excellent properties as compared to other beverages. According to Tea Association of USA, the global RTD tea market witnessed around 40% growth from 2011 and 2016, which in turn is driving growth of the global iced tea market. Increasing consumer awareness regarding the sugar content in beverages is propelling adoption of healthier options such as iced tea. Furthermore, availability of low or sugar-free alternatives in iced tea is fueling market growth. For instance, Slo-Jo introduced a range of sugar-free iced teas in 2016, which is popular among health conscious consumers.
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