Retail Market: $1.7 Billion Plus
Marketing research company Mintel has published a new business report on the US tea industry. The report includes future forecasts combined with independently compiled data and unique consumer research. This information filled report is primarily focused on tea products sold through food, drug and mass market channels. According to Mintel, Tea is a $1.7 billion category whose growth is driven by health factors and continued innovation. Manufacturers have stepped up to the plate by offering consumers a vast range of choices in their tea beverages. Not only are RTD teas available in numerous formulas and flavors, but bag/loose tea has delved into the realm of higher quality. Tea has also become the hip and trendy new beverage, a must-have for any kitchen. With something for everybody, the tea category is estimated to grow even faster in 2005, as more consumers flock to this category, which is far from saturated.