Boston, MA -- (ReleaseWire) -- 06/09/2014 -- While RTD tea is relatively new in Nigeria, having first appeared in 2008 under the Cway Ice Tea brand from Cway Food & Beverages Co Nig Ltd, the category has seen volume sales increase steadily since then. This growth is attributed to the marketing strategy employed by producers that position their brands as a healthier alternative to carbonates and a close substitute to juice (products are sometimes flavoured with fruit to benefit from the increasing popularity of fruit flavours). Nevertheless, having gained a foothold, the category's growth rate at the end of the review period is, not surprisingly, slower than at the start of the review period.
Chi Nigeria Ltd led the RTD tea category with a 78% share of off-trade volume sales in 2013. The company's RTD tea brand, Chi Ice Tea, benefits from the success and brand equity of Chi Nigeria Ltd's other brands and their distribution platform.
Having become established in Nigeria, the growth of RTD tea is expected to slow down over the forecast period, posting a total volume CAGR of 8%, compared to the 62% CAGR of the review period. The category is expected to continue to develop over the forecast period with new companies likely to enter, leading to a rise in the number of brands, as well as new flavours and pack types. Furthermore, as tea remains a popular drink in Nigeria but sales are restricted due to the high temperatures in the country, RTD tea has strong growth potential since it offers a cold way of drinking tea. However, this will be offset by competition from products in the juice category, as well as various other soft drinks.
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Discover the latest market trends and uncover sources of future market growth for the RTD Tea industry in Nigeria with research from Euromonitor's team of in-country analysts.
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The RTD Tea in Nigeria market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
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