Growing market share for tea

- Last updated on GMT

According to a new report from Packaged Facts released by the
marketing intelligence provider MarketResearch.com, "Coffee and
Tea Market: 2001," coffee accounts for 62 per cent of overall
coffee/tea dollar sales while tea holds a 38 per cent share.

According to a new report from Packaged Facts released by the marketing intelligence provider MarketResearch.com, "Coffee and Tea Market: 2001,"​ coffee accounts for 62 per cent of overall coffee/tea dollar sales while tea holds a 38 per cent share. However, since 1998, tea has gained approximately three share points. The market for coffee and tea accounts for roughly $12bn (Euro13.24bn) in sales a year. The industry has become increasingly dynamic as new health benefits and economic trends have emerged in recent years. Medical studies have shown that tea can reduce the risk for coronary artery disease, stroke, and some cancers; and health conscious baby boomers have driven the beverage to new heights of popularity, while expensive specialty coffees have maintained impressive sales levels despite the recent economic downturn, leading some experts to label the industry as recession-proof. According to Meg Hargreaves, vice president of Research Publishing for MarketResearch.com​, the future growth in the coffee and tea industries will depend on two factors. "Quality and health will be the factors that determine the future of these markets,"​ Ms. Hargreaves stated. "Coffee will enjoy modest growth as high-quality specialty espresso-based drinks are widely embraced by younger adults. The popularity of tea will be largely due to a greater awareness of its health benefits, especially among the population of health conscious baby boomers."

Related topics: Market Trends

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