Major players in the 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, July 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Tea Pods Global Market Report 2022" - https://www.reportlinker.com/p06284502/?utm_source=GNW
The global tea pods market is expected to grow from $5.57 billion in 2021 to $5.98 billion in 2022 at a compound annual growth rate (CAGR) of 7.3%. The market is expected to grow to $7.97 billion in 2026 at a compound annual growth rate (CAGR) of 7.4%.
The tea pods market consists of sales of tea pods and related services.Tea pods are small, sealed filter pouches with tea, like a teabag.
The tea pods are a convenient way for consuming tea, and are available in various flavours such as Indian spice chai, lemon 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.
The main type of tea pods are soft tea pods and hard tea pods.A soft Pod is tea that is sealed inside filter paper and have a round, flat shape, which are 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.
Asia Pacific was the largest region in the tea pods market in 2021. 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.
Increasing tea consumption across the globe is expected to drive the growth for 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. In 2019, 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 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, therefore increase in price of raw material tends to increase price of finished goods.
According to Trade Economics, the price of tea increased to $2.61 per kg in December 2019. Therefore, increasing price of tea coupled with rising price of tea pods is projected to restraint 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’ taste and preferences.
For instance, in January 2019, Coca-Cola Brazil launched a new range of yerba mate pods under its Leao Brand.Leao is a pioneer brand in Brazil’s tea market.
Thus, the launch of new flavoured tea by the players dealing in tea pods market is anticipated to be a major trend in the tea pods market.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06284502/?utm_source=GNW
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