The global instant tea market is expected to grow on account of changing eating habits and lifestyle. Increasing preference for ready-made food & beverages due to its time conservation nature is expected to drive the market. Growing ready-made food & beverage market is expected to remain a key driving factor for global market growth. Shift in trend towards instant tea in emerging economies is expected to further augment market growth. Increasing demand for instant green & herbal tea products due to rising health awareness is anticipated to foster the market growth.
Green tea has abundant health benefits such as antioxidants, reducing cancer cells, headaches and helps in fat reduction. This in turn is expected to fuel the global instant tea market. Changing customer taste and preference to drinks such as ice tea and black tea is projected to uplift the instant tea market. Presence of wide variety of flavors such as lemon, vanilla, aloe vera, jasmine and basil is projected to impact global market growth positively. Technological advancements in food & beverage packaging have resulted in increased food shelf life. This is expected to have a positive impact on the global market.
Asia Pacific emerged as the leading regional market and is expected to dominate the market over the forecast period on account of changing lifestyle in the region. Countries such as China, India, Hong Kong, Taiwan and Japan are major producers of tea. Increasing consumption in these regions is projected to fuel market growth in the region. High green tea production in China is expected to further benefit the Asia Pacific market. Europe is the projected to emerge as the fastest growing market over the next years due to rising health awareness coupled with increasing instant tea popularity. North America is a matured market with instant tea demand reaching saturation. Instant tea market growth in the region is expected to be primarily driven by product development.
Key players operating in the global instant tea market include Nestle S.A., DSM Nutritional Products, Northern Tea Merchants Ltd., Tetley GB Ltd., Oregon Chai Inc., Associated British Foods LLC., Honest Tea Inc., Hankook Tea, Arizona Beverage Company, Metropolitan Tea Company, The Stash Tea Company, Yogi Tea, The Republic of Tea.
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The demand for packaged and processed foods is expected to increase owing to their longer shelf life. Furthermore, manufacturers are closely monitoring the product supply to major retailers through specialized communication channels in order to improve restocking. In addition, processed food manufacturers have urged the packaging raw material suppliers as well as contract packers to ensure a steady flow of goods during the lockdown related to COVID-19. The report will account for Covid19 as a key market contributor.