Ready-to-Drink (RTD) Tea - Bolivia

The Ready-to-Drink (RTD) Tea market in Bolivia has been experiencing significant growth in recent years. Customer preferences in Bolivia have been shifting towards healthier beverage options, which has led to an increased demand for RTD tea. Consumers are becoming more health-conscious and are looking for beverages that offer both refreshment and nutritional benefits. RTD tea, with its natural ingredients and potential health benefits, has emerged as a popular choice among Bolivian consumers. Trends in the market indicate that the demand for RTD tea in Bolivia is driven by the growing popularity of tea as a healthier alternative to carbonated soft drinks. Tea is known for its antioxidant properties and potential health benefits, such as improved digestion and reduced risk of chronic diseases. As consumers become more aware of these benefits, they are increasingly opting for RTD tea as a convenient and refreshing beverage option. Local special circumstances, such as the traditional consumption of herbal teas in Bolivia, have also contributed to the growth of the RTD tea market. Bolivia has a rich tradition of herbal tea consumption, with various indigenous herbs and plants being used for their medicinal properties. This cultural preference for herbal teas has paved the way for the acceptance of RTD tea in the market. Underlying macroeconomic factors, such as the increasing disposable income and changing lifestyles of Bolivian consumers, have also played a role in the development of the RTD tea market. As the economy grows and consumers have more purchasing power, they are willing to spend on premium and healthier beverage options. Additionally, changing lifestyles, including busier schedules and the need for on-the-go refreshment, have fueled the demand for convenient and ready-to-drink beverages like RTD tea. In conclusion, the Ready-to-Drink (RTD) Tea market in Bolivia is experiencing growth due to shifting customer preferences towards healthier beverages, the growing popularity of tea as a healthier alternative to carbonated soft drinks, local special circumstances such as the traditional consumption of herbal teas, and underlying macroeconomic factors such as increasing disposable income and changing lifestyles.

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.