Nestlé Waters North America has sold two of its iced tea brands, Tradewinds and Sweet Leaf Tea, to a private equity firm as part of its strategy of shifting towards a better-for-you beverage portfolio and focus on its legacy bottled water brands.
The global ready-to-drink tea market reached 37 billion liters in 2016: up 40% since 2011. And F&B market consultancy Zenith Global predicts this impressive growth is set to continue with global consumption expected to reach 45 billion liters by 2021.
'We've learned how much fun it is to embrace competition'
Tea isn’t just for grown-ups anymore, as instant and ready-to-drink teas are paving the way for strong positioning among families, children and teens, according to a recent report by market research firm Packaged Facts.
Nestle Waters is launching a Nestea range of liquid water enhancers to provide its the taste of the RTD tea in a 'portable, customizable' form, and plans to market the product alongside bottled waters Pure Life, Poland Spring, Arrowhead and...