Tea is the most popular beverage after water. Till the recent past tea lovers all over the globe enjoyed a fresh cup of tea made with manufactured tea leaves (Black, Oolong, Green, White etc). Still it’s the same. But nowadays, urban life style has become more complex and as a result, people have started to search for the convenience. Due to this reason RTD iced tea and tea concentrates have become emerging products in the world of tea. As I always believe there is nothing better than freshly brewed tea made with tea leaves, no matter whether it’s hot or cold. Anyway, since this is also a sector in tea industry, I would like to bring some information on tea concentrates as well. As Persistence Market Research (PMR) had reported, the global tea concentrate market is expected to register a CAGR of 4.1 % during the forecast period (2018-2028).

Growing Popularity of Fast Food Providers Favoring the Demand for Tea Concentrates

Tea concentrates are extracted from tea leaves. These are utilized more by the food industry rather than households. Tea concentrate is generally a stronger brew that dilutes with boiling water or any diluents and serves as a ready-to-drink (RTD) beverage. Flavored tea concentrates are made by blending tea leaves with other spices like cinnamon, ginger, and berries.

Demand from emerging fast food industry has a positive impact on tea concentrates. Many fast food leaders like McDonald’s, KFC, Starbucks, and Taco Bell are already offering tea beverages as a part of their menu.

Continuous Innovations in the Tea Processing Industry Increase the Demand for Tea Concentrates

Tea is a consumed all over the globe, and its processing produces many value-added products that include tea bags, instant tea, tea concentrates, packeted tea, flavored tea, decaffeinated tea, fortified tea, tonic tea, tea cider, Kombucha and iced tea. Tea concentrates achieve that by providing flavor fusions that they wouldn’t otherwise be able to recreate at home. Tea concentrates also provide ease of storage, transport, and versatility.

Tea concentrates are available in solid and liquid form in the market. These are available in different flavors as well. They are used to make both hot and cold beverages. For many beverages, tea concentrates are used. Instant and iced teas use different flavors of tea concentrates.

The High Cost of Tea Concentrates Might Hamper the Tea Concentrates Market

Prices of these products are higher than general tea products since qualitatively they have got a higher tea content. This puts tea concentrates in a premium price point wherein the consumers from developing / underdeveloped countries don’t make a purchasing decision based on convenience, but rather economic feasibility of the product.

The Asia Pacific is the single largest region with a strong affinity towards tea and tea-related beverages in general. However, more than 75% of the population prefers traditional tea making practices than purchasing tea concentrates. This can be associated with the cultural development, the price difference or just the ease of availability of the native form of tea in the region since the region is also the producer of the finest tea leaves in the world. This results in the product missing out on the largest potential consumer base due to its high prize.

Key players for tea concentrates include PepsiCo, Inc., Tata Global Beverages Ltd, A. Holliday & Company Inc., H&H Products Company, Cooper Tea Company LLC, Maya Tea Company, MB-Holding GmbH & Co. KG, Monin, Inc., Herbalife International of America, Inc., Synergy Flavors, Inc., Amelia Bay, ThirsTea Corp, Island Rose Gourmet Tea, The Chai Direct, and RFI Ingredients.

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References

1.Original post: https://www.persistencemarketresearch.com/market-research/tea-concentrate-market.asp