Out of Home Tea Market is expected to Witness US$ 47.7
Wilmington, Delaware, United States, February 02, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The globe Out-of-home tea market is expected to grow at a CAGR of 9.3% from 2022 to 2031. Away from home tea is consumed outdoors. It can be consumed in a variety of settings including fast food restaurants, coffee shops, pubs and bars, lodging establishments and workplaces. Takeaway tea is available in different flavors and variations, namely oolong tea, matcha tea, herbal tea, black tea and green tea. Rising popularity and launch of multiple varieties of tea are expected to support the market expansion over the forecast period.
Tea helps boost the immune system and reduce inflammation. Consumers choose to purchase ready-to-drink tea because of these health benefits. As a result, increased awareness of the benefits of tea is expected to drive the market growth over the forecast period. The increasing popularity of tea infused with herbal ingredients, flavors and fragrances is expected to fuel the growth of the global out-of-home tea industry in the near future.
According to the TMR report, the global out-of-home tea market was valued at US$19.8 billion in 2021 and is expected to reach US$47.7 billion by the end of 2031. Tea helps in relieving inflammation and increasing awareness of this factor is likely to help generate new business opportunities over the forecast period.
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Key Findings of the Study
- Increase in consumer shift from coffee to tea: The high consumption of coffee in the major economies of the world has led to a number of negative health effects. Consuming large doses of coffee has been shown to have negative side effects such as stress hormones, which lead to increases in tension levels, increased heart rate and high blood pressure. Therefore, most consumers now prefer tea in search of better health benefits. The increase in tea import rates over the forecast period is also expected to bode well for the out-of-home tea market.
- High consumption rate of green tea: Green tea has gained popularity worldwide due to its health benefits. The epigallocatechin gallate or EGCG content found in green tea is high, which helps prevent several diseases. In addition, black tea is gaining traction around the world due to its high levels of antioxidants that help prevent cancer. It is estimated that growing awareness of the health benefits offered by green and black tea, among others, will positively change the market outlook for out-of-home tea in the near future.
key driver
- The rising demand for healthy and convenient products is expected to boost the global out-of-home tea market
- Increasing demand for energy-enhancing and nutritional benefits in consumer products is likely to fuel the growth of this market
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Regional growth dynamics
- Due to the rising demand for healthy and convenient products, Asia-Pacific is expected to dominate during the forecast period
- The availability of large tea growing areas and high tea yield rate in major economies such as India, Japan and China are expected to help this region continue to dominate the market in the near future
key figures
Prominent suppliers of the global out-of-home tea market include Unilever, Teekanne GmbH & Co. KG, Tata Consumer Products Limited, Taetea Group, Starbucks Coffee Company, Ito En Ltd., Bettys and Taylors Group Ltd., Barry’s Tea, Associated British Foods plc and Apeejay Surrendra Group.
Out-of-home tea market segmentation
kind
- Black tea
- Green tea
- herbal tea
- Matcha tea
- Oolong tea
- Other
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packaging type
end use
- fast food restaurants
- restaurants
- Bars & Pubs
- Hotels
- Café/coffee shop chains
- jobs
- Outside
- Other
distribution channel
- On-line
- Corporate Websites
- Ecommerce Websites
- Offline
- hypermarkets/supermarkets
- specialty shops
- Other
region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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Transparency Market Research, incorporated in Wilmington, Delaware, USA, is a global market research firm providing custom research and consulting services. TMR provides detailed insights into factors driving demand in the market. It reveals opportunities in various segments based on source, application, distribution channel and end-use that will fuel the growth of the market over the next 9 years.
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