NEW YORK, Dec. 3, 2021 /PRNewswire/ -- Technavio has announced its latest market research report titled "Specialty Tea Market by Application (residential and commercial) and Geography (APAC, Europe, North America, South America, and MEA)". The specialty tea market share growth by the residential segment will be significant for revenue generation. 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 & beverages. Moreover, the rising at-home consumption of tea is expected to grow at a steady rate owing to increasing urbanization and the changing eating habits of consumers across the world. The specialty tea market is set to grow by USD 5.50 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.04%.
For more insights on the Specialty Tea Market - Download a Sample Report in Minutes
The specialty tea market is driven by the growing tea cafe culture. However, the impact of overconsumption of tea might impact the market growth adversely during the forecast period. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Access our detailed 120-page report on "Specialty Tea Market by Application and Geography - Forecast and Analysis 2022-2026":https://www.technavio.com/report/report/specialty-tea-market-industry-analysis
Major Specialty Tea Companies
The specialty tea market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The major specialty tea companies include -
Associated British Foods Plc
Dilmah Ceylon Tea Co. Plc
Harney & Sons Fine Teas
ITO EN Ltd.
Tata Consumer Products Ltd.
The Hain Celestial Group Inc.
The Republic of Tea
Get lifetime access to our Technavio Insights. Subscribe now to our most popular "Lite Plan" billed annually at USD 3000. View 3 reports monthly and Download 3 Reports Annually!
Specialty Tea Market Application Outlook (Revenue, USD bn, 2021-2026)
Residential - size and forecast 2021-2026
Commercial - size and forecast 2021-2026
Specialty Tea Market Geography Outlook (Revenue, USD bn, 2021-2026)
APAC - size and forecast 2021-2026
Europe - size and forecast 2021-2026
North America - size and forecast 2021-2026
South America - size and forecast 2021-2026
MEA - size and forecast 2021-2026
For additional information on segmentation - Grab an Exclusive Sample Report
Iced Tea Market in India -The iced tea market share in India is expected to increase by USD 6.00 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 17.43%.Download a sample now!
Slimming Tea Market -The slimming tea market size has the potential to grow by $7.02 billion during 2020-2024, and the market's growth momentum will accelerate during the forecast period.Download a sample now!
Specialty Tea Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 6.04%
Market growth 2022-2026
USD 5.50 billion
YoY growth (%)
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 36%
Key consumer countries
China, Taiwan, UK, US, and India
Leading companies, competitive strategies, consumer engagement scope
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
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:https://www.prnewswire.com/news-releases/specialty-tea-market-to-grow-at-a-cagr-of-6-04-by-2026residential-segment-to-be-significant-for-revenue-generation17000-technavio-reports-301436399.html