Tea concentrates to witness a surging uptake
The global market for tea concentrates market will expand at a moderate CAGR of 4.1% during 2018-2028, according to a report by Persistence Market Research.
Extracted from tea leaves, tea concentrates are a double-strength brew that dilute with boiling water or any diluents to serve as a ready-to-drink beverage. Flavored tea concentrates are made available by blending tea leaves with other spices such as cinnamon, ginger, and berries.
Favored by foodservice, they enable many different beverages to be made from one base product ensuring quality time after time with little to no effort. In a hectic lifestyle, a ready-to-serve drink with added health benefits, is extremely desirable for the consumers, especially when it requires no hot brewing. Tea concentrates also provide ease of storage, transport, and versatility.
For consumers, it is a well-known fact that tea has numerous health benefits. It is this very trait of tea concentrate that enables the product to be marketed and sold as a health beverage, and gain a wider consumer base.
Consumers also want sensorial experiences that are innovative. Tea concentrates achieve this by providing flavor fusions that they wouldn’t be able to recreate at home.
However, as tea concentrate prices are higher than traditional tea products (since qualitatively they have a much higher tea content), this puts tea concentrates in a premium price point where consumers from developing/underdeveloped countries don’t make a purchase decision based on convenience, but rather economic feasibility of the product.
Global Tea Concentrates Market: Key Insights
The growing fast food culture across the globe is influencing the tea concentrates market in a positive way. Multiple fast food giants already offer tea beverages as a part of their menu, including McDonald’s, Starbucks, and Taco Bell. This growing fast food culture directly affects the tea concentrate demand in a positive way.
Global demand for healthy food has been on the rise constantly, and that includes the increasing demand for healthy beverages. Use of tea concentrate in health drinks is preferred by consumers, which drives the market for tea concentrates.