What I am sharing today is [2023 Chinese Tea Drinks] Report Producer: Mintel
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—Market—
According to Mintel's estimates, under the influence of the new crown epidemic, the sales of ready-to-drink tea drinks in 2022 will be 93.5 billion yuan, an increase of 5% over the previous year2%, sales volume is estimated to increase by 32%。
In terms of specific market segments, the sales of ready-to-drink herbal tea in Asia are estimated to decline by 93%。The fluctuation in the performance of Guangzhou Baiyunshan Pharmaceutical Group, a leading company in this market segment, shows that the category lacks resilience in the face of uncertainties such as the new crown epidemic due to the seasonal characteristics of Asian ready-to-drink herbal tea and its reliance on special occasions such as major festivals. As life gradually gets back on track, Mintel** Asia RTD Herbal Tea sales will recover from 2023, growing at a CAGR of 23%。
—Company & Brand—
Master Kong and Uni-President maintained their leading position in China's ready-to-drink tea beverage market in 2022 by actively building core products and attracting young consumers. For example, Master Kong's Master Kong Iced Tea continues to build a young and fashionable brand image through new brand spokesperson Wang Yibo and Times Youth League. At the same time, Uni-President Iced Tea chose Bilibili, a platform where Generation Z gathers, for in-depth cooperation, expanding the brand** and enhancing brand influence by sponsoring variety shows and co-creating user-generated content.
Nongfu Spring leads the market share growth among the leading enterprises. According to its 2022 annual report, Nongfu Spring's revenue from tea beverage products increased by 50 percent in 20228%。In 2022, Nongfu Spring's tea series will launch two new flavors - Mandarin Lemon Tea and Qingti Oolong Tea, and another series of Oriental Leaves will launch two seasonal limited products: Spring Limited Longjing New Tea and Autumn and Winter Limited Osmanthus Oolong.
—Consumer—
Among the different tea segments, freshly made tea beverages (including milk tea) have the highest penetration rate, while tea leaves and tea bags have the highest daily drinkers. Consumers widely consume freshly made milk tea and freshly made tea beverages, which may pose a threat to the consumption of packaged tea beverages. At the same time, the penetration rate of tea powder and tea concentrate has increased significantly, indicating that the convenience tea form is becoming more and more popular.
Compared to 2021, even in December 2022, when epidemic prevention policies were relaxed and large-scale infections were introduced, high-frequency consumers in all RTD segments increased, indicating that consumers are gradually developing the Xi of drinking tea drinks.
|In the case of plastic bottles, differentiation is achieved through packaging forms
1.Among the different packaging forms of ready-to-drink tea beverages, plastic bottles have the highest penetration rate. According to Mintel's global new product database, between 2018 and 2022, bottled tea beverages have become more dominant among new RTD beverages in China, helping them to be favored by consumers. Brands can launch a variety of packaging formats to meet the diverse needs and drinking scenarios of consumers.
2.At the same time, the majority of consumers are also showing interest in other forms of packaging, which brands can use as a way to differentiate and offer solutions to the problem of plastic pollution. According to Mintel China's monthly consumer tracker, cartons are more associated with freshness, while plastic cups are conducive to conveying a trendy image and can attract younger consumers. The high-end impression of glass and aluminium bottles helps to guarantee a higher price point.
|The mixed flavor of flowers and fruits can win the favor of consumers
1.About half of the respondents showed interest in tea beverages with mixed flavors of flowers and fruits, indicating the important role of flavor innovation in encouraging the consumption of tea beverages. Among the fruits that go well with flower tea, peaches, citrus, berries and passion fruit are the most popular, and they are worthy of attention for new product development.
2.In addition, more than 40% of consumers have shown interest in tea drinks with plant-based protein ingredients, especially those who drink ready-to-drink tea drinks for natural ingredients (54%). High-frequency consumers of almond milk beverages are more likely to use them with tea than other plant-based protein beverages. As almond milk drinks become more popular in the foodservice channel, brands can also launch ready-to-drink milk teas made from almond milk drinks.
This article is for informational purposes only and does not represent any investment advice from us. To use the information, please refer to the original report. ）
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