The beverage industry is a trillion-dollar sector of the food and beverage industry. In the beverage sector, soft drinks and energy drinks comprise a large part of the market, however, Lipton Tea (the brand) and teas, in general, have been able to lead the way as an incredibly popular source of drinks for those who are more health-conscious. Teas contain many health benefits and can be found made and sold in many different ways, from hot/cold, pre-bottled/ loose-leaf, and sweetened/non-sweetened, there are many options for a large array of customers.
The global tea market was valued at $55,144 million in 2019 and is expected to increase to $68,950 by 2027. The Asia Pacific is the current largest market of the tea market, while North
America is the fastest-growing market. The global export tea market was valued at 648.56 million for green tea in 2016 and grew to 685.67 million in 2019. In addition, the current global tea market is expected to see a CAGR of 4.7% from 2020 to 2025. Green tea has been the single most popular tea worldwide for decades and is expected to continue to gain popularity through 2027. It is suspected the green tea segment will have an increase in CAGR of 9.8% from 2019 to 2027.
In order to properly market tea, it is important to understand the consumer’s interest in tea, which is for its health benefits. Teas carry plenty of health benefits while having varying caffeine amounts for each tea type. Depending on a person’s age, health needs, caffeine tolerance, and preferred flavor profile, there is likely a tea that will be perfect. Catering tea to the health crowd is essential when it comes to advertising.
Works Used:
https://fandbfood.com/food-and-beverage-industry/
https://www.mordorintelligence.com/industry-reports/tea-market
https://www.alliedmarketresearch.com/tea-market