Ready-to-Drink (RTD) Tea - Greece

The Ready-to-Drink (RTD) Tea market in Greece has been experiencing significant growth in recent years.

Customer preferences: Greek consumers have shown a growing preference for healthier beverage options, which has contributed to the rise in popularity of RTD tea. With increasing awareness about the health benefits of tea, consumers are seeking convenient and ready-to-consume options that offer the same benefits as traditional tea. The convenience factor of RTD tea appeals to busy individuals who are looking for a refreshing and healthy beverage on the go.

Trends in the market: One of the key trends in the RTD tea market in Greece is the introduction of innovative flavors and blends. Manufacturers are constantly launching new and unique flavors to cater to the evolving taste preferences of consumers. This trend not only attracts new consumers but also encourages existing consumers to try different varieties, thereby driving market growth. Additionally, companies are focusing on using natural and organic ingredients in their RTD tea products to meet the growing demand for healthier options. Another trend in the market is the increasing availability of RTD tea in various distribution channels. Apart from traditional grocery stores, RTD tea is now readily available in convenience stores, cafes, and online platforms. This expanded distribution network has made RTD tea more accessible to consumers, further driving market growth.

Local special circumstances: Greece has a rich tea culture, with a long history of tea consumption. This cultural background has played a significant role in the growing popularity of RTD tea in the country. Greek consumers have a strong appreciation for tea and are open to trying new varieties and flavors. The cultural acceptance of tea as a beverage has created a favorable environment for the growth of the RTD tea market.

Underlying macroeconomic factors: The growing health consciousness among Greek consumers is a key macroeconomic factor driving the growth of the RTD tea market. As people become more aware of the impact of their lifestyle choices on their health, there is a shift towards healthier beverage options. RTD tea, with its natural ingredients and potential health benefits, aligns with this trend and has gained traction among health-conscious consumers. Furthermore, the improving economic conditions in Greece have also contributed to the growth of the RTD tea market. As disposable incomes increase, consumers have more purchasing power and are willing to spend on premium and healthier beverage options. This has created a favorable market environment for RTD tea manufacturers to introduce new products and expand their market share. In conclusion, the RTD tea market in Greece is witnessing significant growth due to the increasing preference for healthier beverage options, the introduction of innovative flavors, and the expanding distribution channels. The cultural acceptance of tea and the improving economic conditions in the country are also contributing factors. With these trends and circumstances, the RTD tea market in Greece is expected to continue its growth trajectory in the coming years.

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.