Out Of Home Tea Market Research, Segmentation, Key Players Analysis and Industry Forecast By 2024-2031 | Tata Global Beverages Ltd., Nestle S.A

The Out Of Home Tea Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Out of home tea market refers to tea that is consumed outside of residential homes, including tea served at cafes, restaurants, hotels, vending machines, and other commercial establishments. It is available in loose leaf, packaged bags, bottled and canned formats to cater to on-the-go consumption. Out of home teas are increasingly popular among urban working professionals and tourists looking for quick refreshments over short breaks.

Market Dynamics:

The global out of home tea market is expected to witness high growth over the forecast period owing to rising urbanization globally. Rapid urbanization is leading to increased number of cafes, restaurants and retail spaces catering to urban residents with busy lifestyles. This has boosted the demand for quick, easy and refreshing out of home beverage options including tea. Additionally, growing young working population who prefer spending breaks outside their homes for socialization is also fueling the market growth. Changing consumer preferences towards specialty tea varieties and new product launches catering to evolving tastes are further propelling the demand. However, price fluctuations in agricultural commodities may negatively impact tea production and act as a restraining factor.

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Top Key Players are Covered in this Report:

★ Tata Global Beverages Ltd.
★ Nestle S.A
★ Celestial Seasonings Inc.
★ Unilever Plc.
★ Ito En Ltd
★ Barry's Tea
★ Associated British Foods
★ Dilmah Ceylon Tea Company
★ The Republic of Tea
★ Bettys and Taylors Group Limited

Market Segmentation:

By Product Type:

★ Black Tea
★ Green Tea
★ Herbal Tea
★ Fruit Tea
★ Matcha Tea
★ Oolong Tea

By Packaging Type:

★ Loose Tea
★ Tea Bags
★ Bottled Tea
★ Canned Tea

By Distribution Channel:

★ Quick Service Restaurants
★ Full Service Restaurants
★ Bars & Pubs
★ Cafes
★ Workplace
★ Others

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Major Market Driver 1:Increasing demand for healthy beverages among health-conscious consumers

The out of home tea market has witnessed significant growth in demand attributed to rising health consciousness among consumers globally. People are increasingly opting for beverages perceived to offer wellness benefits like hydration and antioxidants. Tea is considered one of the healthiest beverage options and contains polyphenols and antioxidants that can boost the immune system. Various varieties of tea like green tea, black tea, oolong tea are rich in antioxidants and flavonoids that provide several health benefits. The growing awareness about the range of health advantages of tea drinking has been a major factor driving the demand from gyms, cafes, restaurants and other out-of-home consumption avenues.

Major Market Driver 2: Rising influence of western culture and changing food habits

With growing international travel and western influences on dietary patterns, people are adapting newer food and beverage trends. The culture of socializing over a cup of tea has grown in popularity. Evolving tastes and lifestyles combined with expanded availability of distinct tea flavors and styles at street foods outlets, cafes and restaurants have boosted the out-of-home tea consumption globally. Compared to traditional beverages, modern consumers find specialty teas more appealing and satisfying for relaxing moments with friends and family away from home. The adoption of western tea drinking habits has augmented the demand from young population substantially.

Major Market Restrain: High prices of premium and specialty tea varieties

While the global tea market has expanded tremendously, premium quality and unique flavor specialty teas attract higher price tags which curtails its mass consumption in the out-of-home segment. Specialty teas require special processing techniques and ingredients which push up production costs. These premium varieties, though popular among the elites for their exotic taste profiles, remain unaffordable for middle and low-income groups when consumed outside home setups. The price sensitivity of cost-conscious customers inhibits the growth potential of high-end artisanal tea offerings in food chains and cafés to some level.

Major Market Opportunity: Rising popularity of innovative tea-based beverages

While hot tea remains a classic favorite, innovative cold tea drinks and fusions are gaining momentum among new-age buyers. Consumer interest in experimenting with exciting flavors and formats has opened doors for novel product development. Several beverage companies have cashed in on this opportunity by introducing fruit-infused chilled teas, bubble teas, fermented teas and other fusion concoctions. Tea cafes attracting young clientele have also expanded their menus to include ice teas, lemon teas and other cold variants. The steadily growing demand for non-coffee beverages provides ample scope for customized ready-to-drink and on-the-go tea products in the out-of-home space.

Major Market Trend: Widening global acceptance of Asian tea cultures

Growing exposure to diverse cultures through international travels, immigration and digital media has made people more receptive towards new culinary experiences. Asian cuisines have gained immense popularity worldwide with Chinese tea ceremonies and Japanese matcha gaining new fans globally. This has reflected positively on the expanding popularity and availability of various Asian tea styles consumed outside homes. Global foodservice operators are recognizing the immense appeal of Asian tea traditions and experimenting with East-West fusion items tailor-made for international palates. The rising tendency of cultural blending and exposing local populace to Asian tea routines is fueling new consumption patterns in an enjoyable way.

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The report answers a number of crucial questions, including:

➥ Which companies dominate the global Out Of Home Tea market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the Out Of Home Tea market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Out Of Home Tea Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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This release was published on openPR.