Artificial Intelligence Is Fastest Growing Segment Fueling The Growth Of The Global Iced Tea Market

 

The global iced tea market is estimated to be valued at US$ 6,490.4 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Iced tea is a refreshing and healthy beverage prepared by steeping tea leaves in cold or hot water. It is available in a variety of flavors such as black tea, green tea, red tea, oolong tea and herbal tea. Iced tea provides antioxidants and essential nutrients. It helps boost immunity and fight infections.

Market key trends:
One of the major trends in the global iced tea market is the adoption of artificial intelligence. Tea brands are investing in AI technologies to gain deep consumer insights. AI helps analyze vast amounts of consumer data to understand purchase patterns and preferences. It also enables personalized engagement and targeted marketing. AI powered chatbots are being used for customer service. Advanced AI algorithms can even create new flavors and formulations based on evolving tastes. This is helping brands innovate and attract younger consumer segments.

Segment Analysis
The global iced tea market is segmented on the basis of type, form, packaging, and distribution channel. Based on type, the market is segmented into black tea, green tea, oolong tea, herbal tea, and fruit and flavored tea. The fruit and flavored tea segment dominates the market as it offers a wide variety of flavors and tastes to the consumers. Further, it is gaining popularity among health-conscious consumers as fruit-flavored teas contain antioxidants and have various health benefits.

Key Takeaways
The Global Iced Tea Market Size is expected to witness high growth, exhibiting CAGR of 3.9% over the forecast period, due to increasing health consciousness among consumers globally.
Regional analysis: North America dominates the global iced tea market, owing to the high consumption of iced tea in the region. However, Asia Pacific is expected to witness the fastest growth over the forecast period. Countries like China and India are expected to offer lucrative opportunities for market players due to changing lifestyles and rising disposable income of consumers.
Key players: Key players operating in the iced tea market are Arizona Beverages USA, The Coca-Cola Company, Unilever, PepsiCo, Inc., and Nestle SA. Arizona Beverages USA specializes in manufacturing and distributing ready-to-drink iced teas and holds a significant share in the global market. Coca-Cola offers various fruit and herbal flavored iced teas such as Honest, Del Valle, and Gold Peak.

For More Insights, Read: https://www.newsstatix.com/iced-tea-market-size-share-and-growth-forecast-2023-2030/