RTD tea has maintained a positive performance in retail terms during the time of the pandemic in 2020 and 2021, despite the maturity of the category. Foodservice, on the other hand, remains in negative-figure declines – albeit at less steep rates than seen last year.
Health and wellness trends are growing in Vietnam, further enhanced by the event of the pandemic. In particular, consumers are seeking healthy-positioned RTD tea and variants with no- and low-sugar content.
Tan Hiep Phat Group maintains its decent lead in RTD tea in 2021, thanks to the success of its top Zero Degree Green Tea brand. However, with RTD tea continuing to generate positive sales growth, many of the leading players in the Vietnamese soft drinks industry are seeking to cash in on opportunities to attract the attention of consumers by launching new products in an effort to stimulate demand.
On-trade sales in RTD tea are expected to rebound to positive growth figures in 2022. This is attributed to a loosening of pandemic restrictions as the Vietnamese government aims to reach high COVID-19 vaccination rates by mid-2022.
As RTD tea is already a relatively mature category, it has already become consolidated and leaves little room for new entrants. In addition, the leading players have such solid positions in the category, it would be incredibly challenging for new players to enter the competition.
As noted, due to the existing consolidation of the category, the leading players are likely to introduce new flavours for their RTD tea brands, thus to stimulate interest from consumers. Furthermore, players will concentrate on launching no- and now-sugar variants, in addition to those with a health and wellness positioning, thus to meet the growing health and wellness trends and keep consumers attracted to the category.
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This category includes all packaged products based on brewed tea or tea extract. May be sweetened or unsweetened, carbonated or still, with a wide variety of different flavourings. May contain juice.See All of Our Definitions
This report originates from Passport, our RTD Tea research and analysis database.
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