LONDON--(BUSINESS WIRE)--The global fruit tea market size is poised to reach USD 427.04 million by 2023, according to a new report by Technavio, progressing at a CAGR of over 3% during the forecast period.
Read the 116-page research report with TOC on "Fruit Tea Market Analysis Report by type (conventional fruit tea and organic fruit tea) and geography (APAC, Europe, MEA, North America, and South America) 2019 - 2023" Request Free Sample Pages
The market is driven by the increasing demand for premium fruit tea. In addition, the growing demand from emerging countries is anticipated to further boost the fruit tea market during the forecast period.
Currently, consumers are seen paying premium prices to purchase specialty tea products, such as herbal tea and fruit tea. As a result, vendors are shifting their focus to the premium product range. Fruit tea products are priced higher than plain tea owing to the addition of blended ingredients. For instance, Unilever Group’s Lipton plain black tea costs USD 0.06 per count, whereas its Lipton Fruit tea costs USD 0.13 per count. Thus, the growing demand for premium fruit tea products is expected to drive the global fruit tea market during the forecast period.
Developed countries, including the US, Canada, Japan, France, Germany, Italy, and the UK hold a major share in the global fruit tea market. However, as the market in developed countries is slowly reaching maturity, fruit tea vendors are focusing more on emerging markets. Owing to urbanization and changing lifestyles the spending on packaged tea has increased significantly in developing countries. In addition, online purchases of tea varieties, including fruit tea, is a recent development arising from the growth of the e-commerce industry, which includes online grocery, in various emerging markets. As a result of these factors, the fruit tea market will grow at a significant rate in emerging markets.
For More Information: Request Free Sample Pages
The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Harney & Sons Fine Teas
- R. Twining and Co. Ltd.
- Tata Global Beverages Ltd.
- The Hain Celestial Group Inc.
- The Stash Tea Co.
Market Segmentation by Category and Product Types:
The Fruit Tea Market can be broadly categorized into the following product segments:
- Conventional fruit tea
- Organic fruit tea
Key Regions for the Fruit Tea Market:
Featuring a breakdown of region wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Related Reports on Consumer Staples Market are:
Aronia Berries Market – Global Aronia Berries Market by distribution channel (offline and online) and geography (APAC, Europe, MEA, North America, and South America).
Fish Sauce Market – Global Fish Sauce Market by product (industrial fish sauce and traditional fish sauce) and geography (APAC, Europe, MEA, North America, and South America).
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.