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Tea Pods Market (2024 to 2033) - Industry Analysis, Size, Share, Growth, Trends and Forecasts
Tea Pods Global Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Tea Pods industry. This report on Tea Pods market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The tea pods market size has grown strongly in recent years. It will grow from $6.17 billion in 2023 to $6.5 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to convenience, health awareness, environmental concerns, marketing and branding.
The tea pods market size is expected to see steady growth in the next few years. It will grow to $7.73 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to sustainability, health and wellness, emerging markets. Major trends in the forecast period include flavor variety, customization, smart technology, wellness and functional teas.
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Key Market Players:
Unilever PLC, Bigelow Tea Co, Nestle SA, Keurig Dr Pepper Inc., Cornish Tea & Cornish Coffee Ltd., Tata Global Beverages Ltd., Red Diamond Inc., TEEKANNE GMBH & CO. KG, The Republic of Tea Inc.
Market Drivers:
According to the Tea Pods Market Report 2023 by The Business Research Company, the key factors driving the growth of the Tea Pods market, includes the increasing price of tea limits the growth of the tea pods market. The increasing price of tea is expected to have an adverse effect on the price of tea pods because tea is a raw material for tea pods. An increase in the price of raw material tends to increase the price of finished goods. For instance, in April 2021, according to commodity market outlook report, published by world bank, the average tea price $/kg increased to $3.09/kg in Q3, 2020 from $2.57/kg in Q2, 2020. Therefore, the increasing price of tea coupled with the rising price of tea pods is projected to restrain the growth of the market over the forecast period.
More information about the Global Tea Pods Market Report -
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Market segments for Tea Pods include:
1) By Type: Soft Tea Pods, Hard Tea Pods
2) By Tea Type: Green Tea, Black Tea, Herbal Tea, Other Tea Types
3) By Channel: Supermarkets and Hypermarkets, Independent Retailers, Convenience Stores, Specialist Retailers
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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