Tea Market Estimated size Expand at a Robust CAGR over 2030
According to a Trends Market Research (TMR) report, the global market for tea Market is estimated to surpass US$ XX Billion, reflecting a XX% CAGR during the forecast period. The market is expected to reach XX Billion by the end of 2018 up from US$ XX Billion in 2018, registering a Y-o-Y growth rate of XX%.
Most consumers demand good quality and unique flavor in tea. Tea producers across the globe are constantly focusing on developing unique and authentic flavors to offer highest consumer satisfaction. Tea producers are looking forward to introducing new blends and flavors in tea products such as mint flavor, lemon flavor, chocolate flavor, fruit flavor, and others. There are more than 500 varieties of tea Market found worldwide. Thus, tea lounges are offering varieties of tea product with variants of blend, color and flavor in order to attract more consumer. Moreover, increasing consumer awareness on health and fitness and the growing need for people to have more human interactions and unplug themselves is expected to support the growth of tea-specific beverage outlets across the globe. Therefore, increasing penetration of the tea cafes and rise of lounge culture, especially in regions such as Asia Pacific and Americas is further anticipated to sustain the market growth for tea in the near future