Ready-to-Drink (RTD) Tea - Montenegro

The Ready-to-Drink (RTD) Tea market in Montenegro has been experiencing significant growth in recent years. Customer preferences for healthier beverage options, convenience, and unique flavors have contributed to the increasing demand for RTD tea in the country.

Customer preferences: Montenegrin consumers are increasingly conscious about their health and are actively seeking healthier alternatives to traditional sugary drinks. Ready-to-Drink tea offers a refreshing and low-calorie option, making it a popular choice among health-conscious individuals. Furthermore, the convenience of RTD tea appeals to busy consumers who are looking for a quick and easy way to enjoy a refreshing beverage on the go.

Trends in the market: One of the key trends in the RTD tea market in Montenegro is the growing popularity of natural and organic products. Consumers are becoming more aware of the benefits of natural ingredients and are actively seeking out beverages that are free from artificial additives and sweeteners. As a result, RTD tea brands are focusing on offering products that are made with high-quality, natural ingredients to cater to this demand. Additionally, there is a trend towards unique and exotic flavors in the RTD tea market. Montenegrin consumers are increasingly looking for innovative and exciting flavor combinations, such as fruit-infused teas or herbal blends, to enhance their drinking experience.

Local special circumstances: Montenegro's tourism industry plays a significant role in the growth of the RTD tea market. The country attracts a large number of tourists, especially during the summer season, who are looking for refreshing and healthy beverage options. RTD tea brands have capitalized on this opportunity by offering their products in tourist hotspots, hotels, and restaurants, thereby increasing their visibility and accessibility to both domestic and international consumers.

Underlying macroeconomic factors: The growing middle class in Montenegro has contributed to the increasing demand for RTD tea. As disposable incomes rise, consumers have more purchasing power and are willing to spend on premium products, including RTD tea. Additionally, Montenegro's favorable trade agreements with neighboring countries have made it easier for RTD tea brands to import ingredients and expand their product offerings. This has resulted in a wider variety of RTD tea options available in the market, catering to different consumer preferences and tastes. In conclusion, the Ready-to-Drink (RTD) Tea market in Montenegro is witnessing steady growth due to customer preferences for healthier beverages, convenience, and unique flavors. The increasing demand for natural and organic products, as well as the influence of the tourism industry, are key factors driving this growth. Additionally, the rising middle class and favorable trade agreements have contributed to the expansion of the RTD tea market in Montenegro.

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.