Specialty Tea Sales Still on the Rise
Tuesday, August 2 2005
Published on AllBusiness.com
Specialty tea -- be it green, white, and even red -- is a hot item among U.S. consumers reports a recent PRNewswire article. As traditional black tea sales decline, specialty tea sales continue to grow. According to The U.S. Market for Tea and Ready-to-Drink Tea, a new report published by Packaged Facts, more and more people are gravitating toward "exotic" tea blends and fueling a tea market worth $6.8 billion.
"Green tea is hot right now -- in fact, it's getting dangerously close to becoming a cliche for a food to contain green tea," Packaged Facts Publisher Don Montuori said. "White tea is the newest trend, and it's said to have even more health advantages than green tea. But, it may not take off with the same trajectory as green tea since it's more expensive and the flavor is more subtle."
The expansion of specialty tea sales has made the industry extremely competitive, with many small companies vying for shelf space and attention. A marketing partnership formed between Kraft and Starbucks-owned Tazo Tea may propel this brand to leadership in the specialty tea arena. Packaged Facts projects that the tea market as a whole will reach $10 billion by 2010.
The U.S. Market for Tea and Ready-to-Drink Tea covers market share by company and brand, profiles major tea marketers and smaller up-and-comers, delves into tea drinkers' consumer behavior, and forecasts trends that will affect the tea market in the next five years.
"Green tea is hot right now -- in fact, it's getting dangerously close to becoming a cliche for a food to contain green tea," Packaged Facts Publisher Don Montuori said. "White tea is the newest trend, and it's said to have even more health advantages than green tea. But, it may not take off with the same trajectory as green tea since it's more expensive and the flavor is more subtle."
The expansion of specialty tea sales has made the industry extremely competitive, with many small companies vying for shelf space and attention. A marketing partnership formed between Kraft and Starbucks-owned Tazo Tea may propel this brand to leadership in the specialty tea arena. Packaged Facts projects that the tea market as a whole will reach $10 billion by 2010.
The U.S. Market for Tea and Ready-to-Drink Tea covers market share by company and brand, profiles major tea marketers and smaller up-and-comers, delves into tea drinkers' consumer behavior, and forecasts trends that will affect the tea market in the next five years.