A recent report published by Infinium Global Research on out of home tea market provides in-depth analysis of segments and sub-segments in the global as well as regional out of home tea market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional out of home tea market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global out of home tea market. According to the report, the global out of home tea market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
Companies are focusing on maximizing their profit by reducing manufacturing costs and differentiating their products from competitors. Major players are adopting strategies such as partnerships, mergers, and acquisitions to maximize their market share. In addition, niche marketing, branding, and customer focus also help tea manufacturers to remain competitive in out of home tea market. Manufacturers are searching for new ways to add value in tea that can help to offer diversified tea products.
The growing demand for tea consumption stimulates the growth of out of home tea market. Turkey was the leading tea consuming country in the world in 2016. Tea has antioxidants and less content of caffeine than coffee. Tea is also helpful to reduce the risk of a heart attack. The rising awareness about health benefits associated with tea consumption propels the growth of out of home tea market. The rising disposable income and changing taste and preferences of people fuel the growth of out of home tea market. On the flip side, increasing the cost of raw materials for tea production hinders the growth of out of home tea market. Moreover, new innovative flavors in tea that satisfy changing tastes and preferences of consumers create new opportunities in out of hoe tea markets.
Geographically, the global out of home tea market is classified into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific region is anticipated to be dominant in the global out of home tea market. The rising consumption of tea in countries like China and India contribute to the growth of out of home tea market in the Asia-Pacific region. North America is anticipated to grow with the highest CAGR over the forecast period. Europe is also growing in the global out of home tea market.
The report on global out of home tea market covers segments such as product type, packaging, and end use. On the basis of product type, the sub-markets include black tea, herbal tea, green tea, matcha tea, and other product types. On the basis of packaging, the sub-markets include loose tea, bottled tea, tea bags, and canned tea. On the basis of end use, the sub-markets include quick service restaurants, hotels, restaurants, coffee shop, workplaces, and other end users.
The report provides profiles of the companies in the market such as Unilever Group, Tata Global Beverages Ltd, Associated British Foods plc, Celestial Seasonings, Inc., The Republic of Tea, Peet’s Coffee & Tea, Kusmi Tea, Starbucks Corporation, Nestlé S.A, The Coca Cola Company, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of out of home tea market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.