The instant tea premixes market is expected to reach US$ 1,486.7 million in 2022 and US$ 2,308.8 million in 2032. The market is anticipated to exhibit a CAGR of 4.5% between 2022 and 2032. The industry grew at a CAGR of 3.8% from 2016 to 21.
Increasing interest of consumers in health-benefitting, low-calorie RTD (ready-to-drink) beverages is expected to provide an impetus to growth of the instant tea premixes market. In the coming years, the rise in demand for slimming tea and herbal tea is expected to fuel new trends in the instant tea premixes market.
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Furthermore, leading players are also focusing on introducing instant tea premixes with no added sugar by discovering natural sweeteners that can satiate consumers’ need for health-benefitting properties of their products.
Instant Tea Premixes Market – Competitive Landscape
Some of the key players in instant tea premixes market are Ito En Ltd., Keurig Green Mountain Inc., Suntory Beverage & Food Ltd., Starbucks Corp., The Republic of Tea Inc., Ajinomoto General Foods Inc., Vending Updates India Pvt. Ltd., The Coca-Cola Company, Dunkin Brands Group Inc., Monster Beverage Company, PepsiCo Inc., C. B. Shah & Co. (Tweak), Girnar Food & Beverages Pvt. Ltd., Wagh Bakri Tea Group, Unilever (Lipton), and others.
- In June 2019, Sariwangi – an Indonesian tea brand owned by Unilever – announced that it has launched its new 3-in-1 instant tea premix products. The company’s new range of products includes two variants of powdered milk tea – caramel and Teh Tarik.
- In May 2019, Wagh Bakri Tea Group – a premium tea company headquartered in Gujarat, India – announced that it has introduced tea packaging for its range of instant tea premixes as a part of its centenary celebrations. The new product packaging was introduced for instant tea premixes in four new flavors—masala, ginger, cardamom, and lemongrass. The new packaging gives its instant tea premixes a contemporary look integrated with a new tamper-proof lock, which ensures safe delivery and prevents product counterfeiting. In April 2019, the company also launched new flavors of instant iced tea premixes, such as orange, lemon, aloe Vera, peach; Vetiver, litchi, and fennel.
- In November 2019, Ajinomoto General Foods Inc. – another leading player in the instant tea premixes market – announced that it has established a joint venture with Accenture plc – a global tech leader – in Japan. Through this collaboration, the company aims to bolster its operational transformation through next-generation process automation and instrumentation technologies. The new company – Ajinomoto Digital Business Partners Co., Inc. – will be 67% owned by Ajinomoto and will commence its operations in April 2020. With this joint venture with Accenture, the company aims to leverage digital transformation of its operations to be in line with its goal to become a ‘genuine global specialty company’.
- In December 2018, Nestlé India announced that it has launched its new products in the instant tea premixes category named EVERYDAY Chai Life, in India. The new product range includes instant tea premixes in various flavors such as saffron & cardamom, ginger, desi masala, and lemongrass, to offer consumers a premium, immersive experience. The company also announced that its new instant tea premix products will be available in convenient and easy-to-carry sachet and sachet-in-a-cup formats.
Factors Influencing Growth of the Instant Tea Premixes Market
Evolution in Standardization and Quality Evaluation of Instant Tea Premixes
Consumers are turning to instant tea premixes for the convenience of consumption and the health-benefitting potential of instant herbal tea. Thereby, leading players in the instant tea premixes market as well as researchers and regulatory bodies are introducing efficient ways of standardizing the formulation of such products commercially available in the market.
Increasing consciousness about consumers’ health and wellness is encouraging market players to sync with the standards of formulation and sensory attributes of instant tea premixes. Ongoing advancements in standardization and evaluation methods are expected to influence emerging trends in the instant tea premixes market, in the coming years.
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Instant Tea Premixes Becoming an Integral Part of Consumers’ Travel Essentials
Owing to the ease and convenience of consumption offered by instant tea premixes, consumers are resorting to this option when the need for convenient food products such as on-the-go breakfast products is heightened. Growing consumer preference for a homelike cup of tea while travelling is expected to contribute to the increasing demand for instant tea premix.
As instant tea premixes are becoming the modern travel essentials for consumers, especially among young adult consumers, leading market players are introducing interesting formats and packaging with small serving sizes to benefit from this trend. Sachet packaging and the other forms packaging such as sachet-in-a-cup is expected to emerge as one of the newest growth prospects in the instant tea premixes market, the rise of which is mainly attributed to this trend.
The research report presents a comprehensive assessment of the instant tea premixes market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The instant tea premixes market is broadly segmented according to the product type, nature, sugar content, flavor, sales channel and region.
The report covers exhaustive analysis on
- Instant Tea Premixes Market Segments
- Instant Tea Premixes Market Dynamics
- Instant Tea Premixes Market Size
- Instant Tea Premixes Supply and Demand
- Current Trends/Issues/Challenges pertaining to Instant Tea Premixes Market
- Competition Landscape and Emerging Market Participants in Instant Tea Premixes Market
- Technology related to Production/Processing of Instant Tea Premixes
- Value Chain Analysis of the Instant Tea Premixes Market
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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