Ready-to-Drink (RTD) Tea - Chile

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

Customer preferences: Chilean consumers have shown a growing preference for healthier beverage options, which has contributed to the increasing popularity of RTD tea. With a rising awareness of the health benefits associated with tea consumption, consumers are turning to RTD tea as a convenient and refreshing alternative to sugary carbonated drinks. Additionally, the demand for natural and organic products has also influenced customer preferences, with many consumers seeking out RTD tea options that are made from high-quality tea leaves and contain no artificial additives or preservatives.

Trends in the market: One of the key trends in the RTD tea market in Chile is the introduction of innovative flavors and blends. Manufacturers are constantly launching new and unique tea flavors to cater to the evolving tastes of consumers. This includes the introduction of exotic fruit flavors, herbal infusions, and even tea blends infused with local ingredients. These new flavors not only attract new consumers but also encourage existing tea drinkers to try different varieties, thereby driving market growth. Another trend in the market is the increasing availability and accessibility of RTD tea products. RTD tea can now be found in a wide range of retail outlets, including supermarkets, convenience stores, and online platforms. This has made it easier for consumers to purchase their favorite RTD tea brands and has contributed to the overall growth of the market.

Local special circumstances: Chile's unique geography and climate have also played a role in the development of the RTD tea market. The country's diverse landscape allows for the cultivation of a variety of tea plants, including black, green, and herbal teas. This has led to the emergence of local tea producers who are able to offer high-quality, locally sourced RTD tea products. The use of locally grown tea not only appeals to consumers who value supporting local businesses but also ensures that the products are fresh and of superior quality.

Underlying macroeconomic factors: Chile's stable economy and increasing disposable income have also contributed to the growth of the RTD tea market. As consumers have more purchasing power, they are more willing to spend on premium and healthier beverage options such as RTD tea. Additionally, the growing urbanization and busy lifestyles of Chilean consumers have also fueled the demand for convenient and on-the-go beverage options, further driving the growth of the RTD tea market. In conclusion, the Ready-to-Drink (RTD) Tea market in Chile is experiencing growth due to changing customer preferences towards healthier beverage options, the introduction of innovative flavors and blends, increased availability and accessibility of RTD tea products, the unique geography and climate of Chile, and the underlying macroeconomic factors such as a stable economy and increasing disposable income.

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.