Prospects are looking bright for the world’s most consumed hot drink. Premiumisation is keeping tea value growth strong in developed markets, while growing populations and rising consumer incomes are boosting consumption in developing regions. Tea is growing in all regions, but it will be Asia Pacific that will account for most of the USD7.9 billion the category is expected to add in value by 2022.
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A growing burden of chronic diseases in both developed and developing countries has increased consumer interest in healthier products everywhere, providing a global opportunity for tea as a healthy beverage option.
Global poverty rates are falling, especially in Asia, which is bringing millions of new consumers into the packaged tea market for the first time. These consumers are especially interested in affordable products whose quality they can trust.
In many traditional tea drinking markets, a new generation of middle-class consumers is becoming more adventurous in their tea-drinking habits and driving value growth. This will be especially important in India and Pakistan.
In the mature markets of the developed world, there is little opportunity for consumption to grow, making the focus of growth shifting consumers from mass brands to higher quality tea formats.
With soft drinks consumption patterns changing, opportunity is growing in RTD tea. Foodservice is also a potential growth area, especially in Western nations, where restaurants have traditionally considered tea to be an afterthought.