The popularity of ready-to-drink tea has expanded along with the use of pyramid tea bags. A recent report by Future Market Insights shows that there is still room for growth in the pyramid tea bags market (FMI). The report predicts that the market would expand steadily between 2022 and 2030 at a CAGR of roughly 4.5%. The benefits to one’s health and general well-being are the main elements influencing future demand increase for pyramid tea bags.
The key driver of the sector is an increase in public awareness of tea as a healthy substitute for popular beverages. In emerging countries, where loose tea has traditionally been more popular due to packaging innovations, teabag use is also rising.
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The poll indicates that the sector has a promising future, especially given that companies are introducing various tea flavours and packaging styles. Manufacturers now provide various tea flavours like blueberry, apple, mint, lemon, turmeric, and many others in the business with shiny, personalised pyramid tea bags, which has helped them hold onto the market for a lot longer. Pyramid tea bags currently come in a wide range of flavours, which has contributed to their appeal.
The analysis offers a high-level picture of the key factors that drive market growth. Also, it highlights potential hazards and unrealized opportunities. Here is a discussion of some of the important conclusions from the report.
Some of the key takeaways from the report are:
The triangular tea bags market will account for US$ 380.5 Mn by 2030 end North America is estimated to remain the dominant region throughout the forecast period South Asia and East Asia markets will record growth at a higher rate of pace during 2020-2030 Nylon material shall constitute above 46% of the market by the end of forecast period Direct sales at present account for over 50% of market revenue share and is likely to continue to dominating the global market until 2030 end Commercial users are projected to account for a hefty share in the global market, wherein quick-service restaurants (QSRs) will be gaining significant traction
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Who is winning?
The presence of several leading brands has rendered the pyramid tea bags market consolidated in nature. Competition foreseen in the market is consequently rising, while 70-80% of market share is held by the tier 3 players, key players contribute around 20-30% of the worldwide market.
Major market players operating in the global market are Tata Consumer Products Limited, Hain Celestial Group, Unilever PLC, R. Twining, and Company Limited, Dilmah Ceylon Tea Company PLC, JIN DA Tea Co., Ltd, Bigelow, and The East India Company Ltd.
Players are majorly focusing on capitalizing on production volume, offering sustainable pyramid tea bags solutions, and expanding their reach worldwide. For instance,
Competitive Landscape
The global pyramid tea bags market is consolidated in nature with key manufacturers focusing on providing tailored solutions. The leading manufacturers operating in the global pyramid tea bags market are focusing on maximizing production volume, expanding their reach globally, and providing sustainable pyramid tea bags solutions.
- Unilever, of late, announced that it will start the production of new tea bags that will be made using a new renewable plant-based material that is 100% biodegradable.
- Semper Tea has tabled biodegradable pyramid tea bags. Corn fiber is the material utilized. The silky touch doesn’t come in between the tea’s taste.
- PG Tips is also on the verge of completely switching over to plant-based tea bags by the summer of 2021.
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Key Players:
- Hain Celestial Group
- Tata Consumer Products Limited
- Unilever PLC
- R. Twining and Company Limited
- JIN DA Tea Co., Ltd
- Dilmah Ceylon Tea Company PLC
Key Segments Covered in Pyramid Tea Bags Industry Research
Product Type:
- Small (Below 3 gm)
- Medium (3-5 gm)
- Large (Above 5 gm)
Material:
- Nylon
- Paper
- Cotton
- Silk
- Others (Corn starch, etc.)
Distribution Channel:
- Direct Sales
- Retailers
- Hypermarket
- Supermarket
- Convenience Stores
- Other Retail Formats
- E-Retail
End-use:
- Institutional
- Educational Institutions (Schools and colleges)
- Public Institutions (Govt. offices and public places)
- Private Institutions
- Movie Theater
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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