Specialty Tea Market by Application and Geography - Forecast and Analysis 2022-2026

The specialty tea market share is expected to increase by USD 5.50 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.04%.

This specialty tea market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (residential and commercial) and geography (APAC, Europe, North America, South America, and MEA). The specialty tea market report also offers information on several market vendors, including Associated British Foods Plc, Barrys Tea, Dilmah Ceylon Tea Co. Plc, Harney & Sons Fine Teas, ITO EN Ltd., Nestle SA, Tata Consumer Products Ltd., The Hain Celestial Group Inc., The Republic of Tea, and Unilever Group, among others.

What will the Specialty Tea Market Size be During the Forecast Period?

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Specialty Tea Market: Key Drivers and Challenges

The growing tea cafe culture is notably driving the specialty tea market's growth, although factors such as the impact of overconsumption of tea may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the specialty tea industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Specialty Tea Market Driver

The tea cafe culture in countries such as China and India has gained traction in recent years, and one can find elegant tea boutiques in prominent places in many cities. For instance, in India, tea is not only considered a favorable drink but has also become an integral part of the culture and life of every Indian. The increasing number of tea cafes in the world can be attributed to the rising awareness about the health benefits of tea and the variety of flavors that tea products are offering. Such factors are enhancing the adoption of tea cafe culture globally. 

Key Specialty Tea Market Challenge

The intake of tea is good for health in various aspects. However, the excessive consumption of tea is not preferable. According to nutritionists, the ideal consumption of tea should not be more than three cups a day. The major threat of overconsumption of tea is that tea can be addictive. In addition, excessive consumption may also cause dehydration, bloating, vital nutrient deficiencies, and anxiety. Overconsumption of tea may restrict the absorption of nutrients like iron in the body, which poses a serious challenge to market growth.

This specialty tea market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Specialty Tea Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Associated British Foods Plc
• Barrys Tea
• Dilmah Ceylon Tea Co. Plc
• Harney & Sons Fine Teas
• ITO EN Ltd.
• Nestle SA
• Tata Consumer Products Ltd.
• The Hain Celestial Group Inc.
• The Republic of Tea
• Unilever Group

This statistical study of the specialty tea market encompasses successful business strategies deployed by the key vendors. The specialty tea market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The specialty tea market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Specialty Tea Market?

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36% of the market's growth will originate from APAC during the forecast period. China, Taiwan, and India are the key markets for specialty tea in APAC. Market growth in this region will be faster than the growth of the market in South America and MEA.

APAC is one of the largest producers and consumers of tea products globally. Therefore, the dominance of the market in APAC is expected to continue during the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Specialty Tea Market?

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The specialty tea market share growth by the residential segment will be significant during the forecast period. The consumption of tea for residential is significantly growing, as consumers are continuously seeking changes in their lifestyles and food habits and experimenting with cuisines and beverages. Moreover, the rising at-home consumption of tea is expected to grow during the forecast period at a steady rate owing to increasing urbanization and the changing eating habits of consumers across the world.

This report provides an accurate prediction of the contribution of all the segments to the growth of the specialty tea market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Specialty Tea Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive the specialty tea market's growth during the next five years
• Precise estimation of the specialty tea market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the specialty tea market industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the specialty tea market vendors

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