Tea market in U.S. to $15 billion in 2012
November 20, 2007
by FoodBusinessNews.net Staff
NEW YORK — The market for tea is expected to grow to nearly $15 billion in sales in 2012, according to "Tea and Ready-to-Drink Tea in the U.S.," a new report from market research publisher Packaged Facts.
The tea market includes instant, leaf, liquid concentrate and ready-to-drink products. Currently, the market is reporting $7.4 billion in sales in 2007.
"As more flavors and packaging options enter the market, tea and ready-to-drink teas are increasingly securing a position as an alternative to carbonated soft drink," said Tatjana Meerman, publisher of Packaged Facts. "The days of the generic black tea bag are gone and the chai, yerba mate, rooibos and other specialty teas that boomers are consuming in mass quantities are here to stay."
Interest in health and wellness and functional benefits is boosting the tea market as many teas boast of all-natural, low caffeine content with anti-aging effects. In addition, specialty tea is projected to control half of all tea and ready-to-drink tea sales in the U.S. by 2012, according to Packaged Facts. Currently, specialty tea has 36% of the overall market.