Tea must emulate coffee's success - Euromonitor
According to Euromonitor, a market research firm, tea industry must try to find ways to replicate the success of coffee companies in unlocking the potential in the premium market. Data suggests that a liter of coffee commands three times the value of its tea equivalent on the global market. This means that coffee companies have been much more successful in sniffing out profitable niche markets. Examples of such innovative strategies include the meteoric rise of Starbucks in the US and the recent boom in coffee pods in Europe. The research firm expects premium categories such as white and rooibos tea to drive the tea market in the future. Figures show that in terms of constant value growth between 2005 and 2010, the global coffee market has expanded by 14% compared to 16% for tea, albeit the latter has grown from much lower levels.