Tea Pods Global Market Report 2023
Major players in the tea pods market are Unilever, Bigelow Tea, Nestle, Keurig Green Mountain, Cornish Tea, Tata Global Beverages, Red Diamond, Eekannee, The Republic of Tea, and Jacobs Douwe Egberts (JDE).
New York, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tea Pods Global Market Report 2023" - https://www.reportlinker.com/p06284502/?utm_source=GNW
The global tea pods market will grow from $5.88 billion in 2022 to $6.21 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The tea pods market is expected to grow to $7.54 billion in 2027 at a CAGR of 5.0%.
The tea pods market consists of sales of soft tea pods and hard tea pods.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The tea pod is a tea that is sealed inside filter paper and is brewed using specially designed pod brewers.The tea pods are available in various flavors such as Iemon zinger, mandarin orange spice, and snapple diet peached iced tea.
The popular tea pods available in the market are K-Cups, gourmet tea pods, and paper tea pods.
Asia Pacific was the largest region in the tea pods market in 2022. Western Europe was the second-largest region in the tea pods market.The regions covered in the tea pods market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of tea pods are soft tea pods and hard tea pods.A soft Pod is tea that is sealed inside filter paper and has a round, flat shape, which is usually soft and pliable.
It channel for tea pods are supermarkets and hypermarkets, independent retailers, convenience stores, and specialist retailers. The various tea types are green tea, black tea, herbal tea, and others.
Increasing tea consumption across the globe is expected to drive the growth of the tea pods market during the period. According to the Tea Association of the USA Inc., on any given day, over 159 million Americans are drinking tea. For instance, in July 2022, Americans consumed over 84 billion servings of tea, or more than 3.8 billion gallons and about 84% of all tea consumed was black tea, 15% was green tea, and the small remaining amount was oolong, white, and dark tea . The production of black tea is anticipated to rise by 2.2% annually over the next decade to reach 4.4 million tons by the end of 2027. This scenario is likely to generate higher demand for tea, which in turn is expected to have a positive impact on the growth of the tea pods market in the near future.
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 $2.57/kg in Q2, 2020. Therefore, the increasing price of tea coupled with the rising price of tea pods is projected to restrain the growth of the market over the forecast period.
The availability of different types of flavoured tea is emerging as a major trend that is shaping the growth of the tea pods market.Major players dealing in the tea pods market are now focusing on new flavours and introducing products according to consumers’ tastes and preferences.
For instance, in June 2020, Teavana, a US-based tea company, introduced three new ready-to-drink wellness craft iced tea varieties.The new teas, which join Teavana’s existing craft iced tea and sparkling craft iced tea lines, are created with the finest teas and botanicals, as well as ingredients like ginger, turmeric, and peppermint.
Thus, the launch of new flavoured tea by the players dealing in the tea pods market is anticipated to be a major trend in the tea pods market.
The countries covered in the tea pods market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The tea pods research report is one of a series of new reports that provides tea pods statistics, including tea pods industry global market size, regional shares, competitors with tea pods share, detailed tea pods segments, market trends and opportunities, and any further data you may need to thrive in the tea pods industry. This tea pods research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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