By Infinium Global Research Aug, 2020
The Global Out of Home Tea Market is expected to grow at a CAGR of 10.35% between 2019 and 2025 in terms of value and volume. 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.