Global Out of Home Tea market is slated to accrue revenue worth more than 49.95 (USD Billion) by 2026 and record the CAGR of over 11% over the period from 2020 to 2026.
New York, United States - October 29, 2020 /MarketersMedia/ —
According to Zion Market Research, the global out of home tea market is predicted to cross a value of US$ 49.95 billion by 2026. The market is predicted to grow at a solid CAGR of more than 11% by 2026.
Some of the major companies active in the global out of home tea market are Associated British Foods, Tata Global Beverages Ltd., Celestial Seasonings, Inc., Costa Ltd., The Republic of Tea, Nestle S.A., Bettys and Taylors Group Limited, Tenfu Corporation, Peet’s Coffee & Tea, Kusmi Tea, Starbucks Corporation, Unilever Group, PepsiCo, Inc., The Coca-Cola Company, and Dilmah Ceylon Tea Company Plc.
Usage Of Out Of Home Tea Is Considerably Rising All Over Different End-Use Sections To Power Market Growth
Usage of out of home tea is considerably rising all over different end-use sections such as bars & pubs, restaurants, hotels, quick service restaurants, workplaces, and cafes. Rising inclination for tea mixed with flavors, fragrances, and herbal elements is one of the major factors powering the development of the out of home tea market. In addition to this, rising health hazards owing to elevated consumption of coffee, paired with increasing popularity of tea as a convenient and healthy drink is also expected to elevate the requirement for out of home tea. In addition to this, altering scenarios of retail shops via launch of tea outlets by well-known retail chain companies such as Costa Ltd. and Starbucks Corporation as well as launch of customization in their goods owing to rising user requirement is expected to power the development of the out of home tea market.
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Asia Pacific Is Expected To Lead The Market In The Years To Come Owing To The Dominance Of India And China, Both In Terms Of Consumption And Production
Black tea section had a primary share of almost 33% and is expected to grow at the quickest pace in the years to come. On the basis of packaging type, tea bags section is predicted to grow at a solid pace by 2025 owing to elevating user preference for tea bags. Asia Pacific area had the utmost share of the global market in terms of consumption volume and income generation, followed closely by Middle East & Africa. Asia Pacific is expected to lead the market in the years to come owing to the dominance of India and China, both in terms of consumption and production.
By Type
Black tea
Green tea
Herbal tea
Matcha tea
Oolong tea
Others
By Packaging Type
Loose tea
Tea bags
Bottled tea
Canned tea
By End-use
Quick Service Restaurants
Restaurants
Bars & Pubs
Hotels
Café/Coffee Shop Chains
Work Places
Outdoor
Others
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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Source: MarketersMedia
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