Wilmington, Delaware, June 26, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Tea Pod Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Tea Type, by Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global tea pod market generated $4.6 billion in 2022, and is anticipated to generate $7.8 billion by 2032, rising at a CAGR of 5.5% from 2023 to 2032.
Prime Determinants of Growth
The growing popularity of green tea & black tea due to their health benefits and a larger societal shift towards prioritizing efficiency and convenience in everyday tasks are the factors expected to drive the growth of the global tea pod market in the forecast period from 2023 to 2032. However, the complexity & inconsistency in brewing and high costs associated with tea pods may restrict market growth in the coming future. Contrarily, the continuous innovations & diverse offerings by tea pod manufacturers is expected to offer remunerative opportunities for the tea pod market expansion during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $4.6 billion |
| Market Size in 2032 | $7.8 billion |
| CAGR | 5.5% |
| No. of Pages in Report | 290 |
| Segments Covered | Type, Tea Type, Distribution Channel, and Region |
| Drivers | Increasing popularity of black tea & green tea |
| Shifting preference of consumers towards convenient & high-quality tea consumption | |
| Rising number of working populations seeking for convenient and efficient products | |
| Opportunities | Continued innovation in the tea pod industry |
| Availability of wide range of tea flavors & blends in pod format | |
| Restraints | High costs and competition from traditional tea bags |
Type: Soft Tea Pods Sub-segment to Hold Major Share by 2032
The soft tea pods sub-segment accounted for the largest global tea pod market share of 52.1% in 2022 and is expected to continue to hold major share by 2032. Made from biodegradable materials, soft tea pods offer hassle-free brewing and appeal to environmentally conscious consumers. Their versatility and time efficiency align with modern lifestyles, making them a staple in households and offices worldwide.
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Tea Type: Black Tea Sub-segment to Flourish During the Forecast Period
The black tea sub-segment held the largest market share of 34.8% in 2022 and is expected to continue to hold major share by 2032. Renowned for its aroma and versatility, black tea appeals to a broad spectrum of consumers, offering a variety of blends and varieties to suit different preferences. It’s distinct taste and cultural significance position it as a staple choice for tea enthusiasts worldwide, solidifying its market dominance within the tea pod sector.
Distribution Channel: Supermarket and Hypermarket Sub-segment to Flourish Immensely by 2032
The supermarket and hypermarket sub-segment held the largest market share of 33.9% in 2022 and is predicted to continue to hold major share during the forecast period. This is mainly because these retail giants strategically position themselves to provide unparalleled accessibility and variety, meeting diverse consumer needs at one stop. Leveraging extensive marketing resources, they bolster the visibility and desirability of tea pod offerings, consolidating their market dominance.
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Region: Asia-Pacific Market to Witness Prominent Growth During the Forecast Period
The Asia-Pacific tea pod market accounted for the largest share of 55.2% in 2022 and is predicted to continue to dominate in terms of market share by 2032. This growth can be attributed to cultural significance and extensive tea consumption in the region. Factors such as evolving lifestyles, urbanization trends, and a preference for convenience are expected to contribute to this growth during the forecast period. Besides, the region’s rich tea heritage and adaptability to modern demands highlight the market’s resilience and economic importance.
Leading Players in the Tea Pod Market:
- Red Diamond Inc.
- Starbucks Corporation
- Teekanne GMBH & Co. KG
- Reily Foods Company (RFC)
- The Republic of Tea Inc.
- Nestle SA
- Bigelow Tea Co.
- Keurig Dr Pepper Inc.
- Cornish Tea & Cornish Coffee Ltd.
- Lipton Teas & Infusions
The report provides a detailed analysis of the key players of the global tea pod market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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