Market Snapshot:
Tea is one of the most consuming casual drinks across the globe, and its consumption is very enormous on a daily basis across the world. It is the low-cost beverage among the other beverages. By knowing its popularity, cafes have increased its offerings in casual as well as official meetings. Not only by the cafes but also Quick-service restaurants have also emerged that specialize in rapid delivery of tea packaged in a way to be consumed on the go. Workplaces have mostly adopted the tea machines in order to serve the refreshment to the employees. In some developed as well as developing countries, tea has been rooted as a medicinal use drink and therefore, its popularity is more after water.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Unilever Group (United Kingdom), Tata Global Beverages Ltd (India), Associated British Foods (United Kingdom), Celestial Seasonings, Inc. (United States), The Republic of Tea (United States), Tenfu Corporation (China), Peet’s Coffee & Tea (United States), Nestle S.A. (Switzerland), The Coca Cola Company (United States) and Pepsico, Inc. (United States) |
CAGR | 10.4% |
Segment Analysis
AMA Research have segmented the market of Global Out of Home Tea market by Type, Application and Region. On the basis of Type, Black Tea are dominating the market in the year 2022 where as Green Tea stood as second largest market share.
On the basis of geography, the market of Out of Home Tea has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Sri Lanka, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2022. Middle East Africa on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Trend
Increasing awareness related tea health benefits among consumers
Market Drivers
Increased demand from millennials in developing economies, Numerous health benefits associated with the consumption of tea and Growing usage of green tea in beauty and skin treatments
Opportunities
Rising disposable income in developing countries and Decreasing demand for carbonated drinks
Restraints
- Growing coffee consumption
In addition to the aforementioned factor, Increased demand from millennials in developing economies
is expected to propel the growth of the market over the forecast period.
Competitive Landscape
As by knowing the rising demand for tea, and its profitability, key players are focusing on the high quality of products as well as quality. Within the market, there are more than 10 competitors are available who are catering tea products as per the market necessities. Unilever, TATA, and Associated British Foods, among others having highly competitive in the development of highly sustainable standards.
The key Vendors profiled in the study are Unilever Group (United Kingdom), Tata Global Beverages Ltd (India), Associated British Foods (United Kingdom), Celestial Seasonings, Inc. (United States), The Republic of Tea (United States), Tenfu Corporation (China), Peet’s Coffee & Tea (United States), Nestle S.A. (Switzerland), The Coca Cola Company (United States) and Pepsico, Inc. (United States). A lot of United States players are profiled in the research study indicating a strong market dependence.