Bottled Tea Market with Driving Factors Analysis - Lipton, Inko's Tea, Tejava, Nestle, Wahaha, STEAZ, Uni-President Group
Lipton, Inko's Tea, Tejava, Arizona Beverage Company, Nestle, Wahaha, STEAZ, TingHsin Group, Starbucks Corporation, Adagio Teas, Honest Tea, Uni-President Group
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COVID-19 Scenario Analysis:
The COVID-19 outbreak has shaken the whole economy in the world. In this scenario, some industries are doing extremely well while others have been crushed. The food market, cleaning, and hygiene product market and medical industry are such categories which are witnessing growth. The consumers are more inclined toward traditional, safe, staple, and healthy food due to which demand for packaged and processed beverages is experiencing decline in this scenario.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The changes in lifestyle and hectic schedule has influenced the food habit of the consumers. People are preferring convenience food more than ever which resulted surging of the demand for processed bottled tea. In addition the increasing trend of sharable snacks and beverages and ready to drink (RTD) is also giving traction to the demand of the processed and bottled tea. Moreover, increase in the working class women in the various countries have increased the purchasing of food & beverage products which are quick, easy, and need less effort to cook, which has resulted in the growth of the bottled tea.
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The availability of wide range of bottled tea in the market is increasing the demand for this product. Companies have launched various bottled tea with different tastes and flavors to broaden their offerings and to attract more customers. Among the most prominent flavors are black tea, herbal tea, orange flavor tea, green tea, and lemon tea.
The global bottled tea market trends are as follows:
New product launches to flourish the market
New products that contain enhanced taste have been launched by leading market players. Millennials are inclined toward drinking bottled tea than fresh brewed tea made at home. To serve this manufacturers are focusing on making organic and herbal bottled tea to serve the health conscious consumers. For instance, in January 2020, TAZO a ready-to-drink iced bottled tea manufacturing company launched three new flavors of bottled tea named Awake, Zen, and Passion.
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Awake is a traditional English breakfast style fusion of black tea, Zen is a refreshing combination of lemon verbena, green tea, spearmint, and lemongrass, and Passion is a vivid mixture of orange peel, hibiscus, lemongrass, rose hips, and cinnamon.
Key benefits of the report:
This study presents the analytical depiction of the global bottled tea industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global bottled tea market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global bottled tea market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global bottled tea market analysis based on competitive intensity and how the competition will take shape in the coming years.
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