Advancing the business of tea
Global volumes of both hot tea and packaged ready-to-drink (RTD) tea are estimated to have grown by 2% in retail channels in 2015, with 4% growth estimated in tea sold into foodservice channels for out of home consumption. At the category level, growth remains fairly consistent.
Euromonitor International has forecasted 2% annual volume growth expected for full-year 2016, with value sales growth strengthening slightly.
The past year has certainly not been without its difficulties, with a troubling slump in consumer goods categories across regions and a deteriorating economic outlook for important tea markets. Yet the fundamental advantages of the tea category are its close alignment with the most important consumer-led drivers in food and beverages– healthier lifestyles, more natural products, flavor experimentation and functional benefits. Tea is well positioned to weather the storm.