Tea Concentrates Market 2020-26 Business Outlook, Industry Insight and Lead Play

Posted by shivf on November 12th, 2020

Growing Demand for Tea Concentrates in Health Beverages. The global market size of tea concentrate was valued at US$ 3,280.3 Mn and is expected to reach US$ 4,770.2 Mn by 2026 expanding at a CAGR of 4.9% during the forecast period.

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With the growing trend of healthy living, consumers are shifting their focus towards healthier drinking habits. Consumers are becoming more conscious about health and wellness and thus, their buying behaviour is majorly impacted by the ingredients present in various food items and beverages. So, manufacturers are continuously focusing on innovative products to cater to the demand of consumers. Therefore, tea concentrate is one of the popular developments for promoting a healthy lifestyle among the consumers.

Tea concentrate has various health benefits. Recent years witnesses’ preferences for tea concentrates as a form of healthy beverages. Black tea and green tea are widely consumed tea concentrates. The rising consumption of tea concentrate containing herbal ingredient and antioxidants are popular among the consumers which is also fuelling the demand for tea concentrate. Further, several fast-food giants are also providing tea concentrates as a part of their menu. For instance, fast food and beverage giants like Starbucks, Taco Bell, and McDonalds are serving concentrated teas to promote healthy eating and drinking habit among consumers.

There is rising demand for green tea concentrates among the population, which is a major factor in boosting the market growth of tea concentrates. Consumers prefer green tea concentrate, as it improves the memory, the immune system, and metabolism. People prefer green tea on a regular basis as it has several health benefits. Companies sometimes add certain things to tea that are not preferred by consumers. In order to bypass the uncertainty of what is present in the tea, consumers prefer it as a form of concentrate and using it as their own drink that contains nothing but green tea. In addition to this, ingredients present in tea sometimes are not healthy for the body, thereby resulting in the preference for green tea concentrates where consumers can add other ingredients that helps in the improvement of digestion

Key Findings:

• Black tea dominated the market in 2018 and expected to display similar trend in the coming years

• Private label maintains growth in black tea despite lack of innovation which in turn is generating opportunity to the market during the forecast period

• In India emergence of tea bars run by the chains such as Chaayos and Chai Point is generating opportunity to the market during the forecast period

• In India there is emergence of companies such as Vahdam teas, Teabox, and Tea Trunk have made wide variety of tea including premium products

• Overall tea concentrate sales are strongest in the channels that carry predominantly natural and organic products

• Rapid expansion of fast food retail chain is triggering the market growth of tea concentrates during the forecast period