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The US - Foodservice Tea Market size is projected to increase by USD 3,237.01 million and the market size is estimated to grow at a CAGR of 4.37% between 2022 and 2027.
This US foodservice tea market report extensively covers market segmentation by distribution channel (full-service restaurants, limited-service restaurants, and quick service restaurants and others), product (black tea, green tea, and others), and type (iced tea and hot tea). Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
Rising demand for mobile foodservice is the key factor driving the growth of the market. Investing in mobile foodservice not only brings benefits in reaching a wide range of customers but also reduces the complexity of daily operations. Another advantage of food trucks over traditional restaurants is a better opportunity to expand the customer base. Additionally, the growing demand for mobile food services is encouraging mobile fast food providers to increase their domestic and international presence. Therefore, the growth of the mobile foodservice market is anticipated to drive the growth of the US foodservice tea market during the forecast period.
The US Foodservice Tea Market shows an Accelerate CAGR during the forecast period.
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Premiumization of functional tea products is the primary trend shaping the growth of the market. US - foodservice tea market players offer a variety of products of varying flavors and qualities, at varying quantities and prices. Premium products such as organic herbal tea and functional tea are all certified by the USDA, ensuring the organic quality of the product. Consumer engagement is primarily driven by premium products.
Furthermore, to satisfy a full range of teas, tea sellers are focusing on expanding their presence in the premium tea segment. To increase consumer acceptance of premium tea products, market players are offering unique packaging with different tea flavors. Therefore, the premiumization of tea products is anticipated to propel the growth of the market during the forecast period.
The negative impact of overconsumption of tea is a challenge that affects the growth of the market. According to nutrition experts, the ideal amount of tea consumed should not exceed three cups per day. The main threat of consuming too much tea is that it can be addictive. Overconsumption can also cause dehydration, bloating, deficiencies in key nutrients, and anxiety. Consuming too much tea also increases caffeine consumption.
Additionally, consuming too much tea has also been linked to many other side effects, such as osteoporosis (weak bones), stomach upset, nausea, and constipation. Thus, the impact of excessive tea consumption may impede the demand in the US foodservice tea market during the forecast period.
Black tea is a very popular type of tea and is widely consumed around the world, especially in the US. Black tea is a staple in many restaurants, cafes, and hotels, serving as the base for classic hot tea offerings and as the main ingredient in iced tea. Because of its rich, slightly astringent flavor, black tea pairs well with a variety of foods, making it a versatile choice for food service establishments looking to supplement their menus with tea-based beverages. The popularity of black tea goes beyond traditional tea preparation. It serves as the base for a variety of specialty and flavored teas, allowing foodservice organizations to create innovative tea-based beverages to satisfy diverse customer preferences. Therefore, these factors will propel the growth of the black tea segment in the market during the forecast period.
The market share growth by the full-service restaurants segment will be significant during the forecast period. This segment includes fine-dining restaurants, casual dining restaurants, and mid-range restaurants. These are restaurants that offer relatively larger menus, tables, counters, and wait staff. They offer meals, drinks, and other snacks for immediate consumption, mainly on-site, but they can also provide takeout services.
The full-service restaurants segment was valued at USD 5,444.01 million in 2017.
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In addition, the presence of convenient and affordable fast food outlets as well as improved advertising and promotional activities of large restaurant chains will play a key role in the company's revenue growth. Additionally, exposure to international culture and lifestyles has led consumers worldwide to experiment with different beverages, including tea and coffee, creating growth opportunities for FAFH. Therefore, increasing consumption of FAFH will facilitate the growth of the US - foodservice tea market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The US foodservice tea market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The US foodservice tea market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
US Foodservice Tea Market Scope |
|
Report Coverage |
Details |
Page number |
144 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.37% |
Market growth 2023-2027 |
USD 3,237.01 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.21 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Anchor Beverages Inc., Aroma Israel, Associated British Foods Plc, Bigelow Tea, Golden Fleece Beverages Inc., Harney and Sons Fine Teas, Harris Freeman, Inspire Brands Inc., LIPTON Teas and Infusions, Numi Inc., Oribe Tea LLC, PALAIS DES THES, Starbucks Corp., Tata Consumer Products Ltd., Teatulia Organic Teas, The Hain Celestial Group Inc., TreeHouse Foods Inc., and Yamamotoyama of America |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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