Ready-to-Drink (RTD) Tea - Spain

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

Customer preferences: Spanish consumers have shown a growing interest in healthier beverage options, which has led to an increased demand for RTD tea. As people become more health-conscious, they are looking for alternatives to sugary carbonated drinks. RTD tea offers a refreshing and healthier option, as it is often made with natural ingredients and contains lower levels of sugar compared to traditional soft drinks. Additionally, the convenience factor of RTD tea appeals to busy consumers who are looking for a quick and easy way to stay hydrated.

Trends in the market: One of the key trends in the RTD tea market in Spain is the growing popularity of flavored and functional teas. Manufacturers are introducing a wide variety of flavors, such as fruit-infused teas and herbal blends, to cater to the diverse tastes of consumers. Additionally, there is a rising demand for functional teas that offer specific health benefits, such as detoxification or stress relief. This trend is driven by consumers' desire to incorporate wellness into their daily routines. Another trend in the market is the increasing availability of premium and organic RTD teas. Spanish consumers are willing to pay a premium for high-quality products that are made with natural and organic ingredients. This trend is in line with the overall shift towards healthier and more sustainable lifestyles.

Local special circumstances: Spain has a strong tea-drinking culture, with a preference for hot tea. However, the RTD tea market is gaining traction due to its convenience and refreshing taste. The warm climate in many parts of Spain also contributes to the popularity of RTD tea, as it is a refreshing and hydrating option during the hot summer months.

Underlying macroeconomic factors: The growing RTD tea market in Spain can be attributed to several underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income among consumers. This has allowed them to spend more on premium and healthier beverage options, including RTD tea. Furthermore, the increasing urbanization and busy lifestyles in Spain have led to a greater demand for convenient and on-the-go beverage options. RTD tea fits well into this trend, as it can be easily consumed while commuting or during breaks. In conclusion, the Ready-to-Drink (RTD) Tea market in Spain is experiencing growth due to the changing preferences of consumers towards healthier and more convenient beverage options. The market is witnessing trends such as the popularity of flavored and functional teas, as well as the availability of premium and organic products. The warm climate and tea-drinking culture in Spain also contribute to the rising demand for RTD tea. The underlying macroeconomic factors, such as increasing disposable income and urbanization, further support the growth of the market.

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.