Global Flavored Tea Market Global Industry Analysis, Key Vendors, Opportunity and Forecast 2018 to 2025
Tea - A most preferred drink in the world
According to a new report published by Reports Monitor titled, “ Global Flavored Tea Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global flavored tea market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Flavored tea has a wide range of applications, right from residential to commercial use. Health and flavor attract the consumer relating herbal teas like hibiscus, chamomile and peppermint leading the path.
Increase in disposable income, increase in cafe culture, change in tastes of people and the introduction of healthy ingredients in tea by various market players are the factors that boost growth of the market. The global tea market is highly driven by the health benefits corresponding to consuming tea as well as increasing awareness related to carbonated drinks among people. As flavored tea receives special attention in modern generation due to its added and enhanced taste, a major growth factor for flavored tea is its easy availability worldwide.
However, rise in cost of agricultural inputs ,increase in cost of raw materials due to unpredictable weather as well as increase in trend of out-of-home coffee consumption are the factors that hampers the tea market.
Asia-Pacific shows the highest growth rate for green tea, followed by North America.The entering of new variety in tea and flavors and also the growth in demand from health-concerned youth population are predicted to provide bankable opportunities for the market. North America and Europe is a major growth opportunity for the global flavored tea market due to the increasing demand. Green tea market provides high market potential for investment giving rise to increase in awareness and demand considering the benefits of health provided by it and hence green tea market is considered as the most leading segment of the global tea market.
The global flavored tea market is segmented on the basis of application, type, packaging, distribution channel and geography. On the basis of applications ,it is segmented into residential and commercial. On the basis of type, the market is divided into oolong tea, dark tea, green tea, black tea and others. By packaging, it is divided into paper boards, plastic containers, loose tea, aluminum tin, as well as tea bags. On the basis of distribution channel, it is segmented into supermarkets/hypermarkets, specialty stores, convenience stores, online stores and others. Moreover, on the basis of geography, the market is covered as North America, Europe, Asia-Pacific, and LAMEA.
Considering the major markets for type, black tea and green tea segments are anticipated to witness significant growth rates over the forecast period. Markets in APAC, North America and Europe are anticipated for contributing significantly to overall revenue growth of the global tea market. It resulted in the increasing demand for tea consumption due to the change in outlook towards social consumption of tea, increasing tea consumption among youth and kids, growing prominence of cafe as well as quick service restaurants in urban areas across the globe are some of the factors predicted to boost the growth of global tea market.
The key vendors in this market are:
Starbucks Corporation, Numi Organic Tea, Associated British Foods, WISSOTZKY TEA, Unilever, Akbar Brothers Ltd, Nestlé S.A, Tata Global Beverages (Tata Tea Ltd.), DAVIDs TEA, , Kazi Tea and The Republic of Tea.
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