Market research firm predicts category to reach $9 billion by 2020
December 19, 2016
Tea sales in the United States have shown strong growth in 2016, continuing the upswing in ready-to-drink (RTD) and refrigerated categories, according to Rockville, Md.-based Packaged Facts. In its new report “Tea and Ready-to-Drink Tea: U.S. Retail Market, 6th Edition,” the market research firm estimates tea sales slightly exceeded $7 billion in 2015, up almost 6 percent. By 2020, Packaged Facts expects retail sales of tea in the United States to close in on $9 billion for the first time, it says.
In celebration of National Hot Cocoa Day on Dec. 13, Keurig Green Mountain Inc., Waterbury, Vt., and Swiss Miss, a brand of Chicago, Ill.-based ConAgra Brands Inc., are introducing two new varieties of Swiss Miss Hot Cocoa K-Cup pods.
Last December, Adobe Digital Index indicated that online consumers spent more than $3 billion on Cyber Monday, 16 percent more than in 2014. That was on top of the more than $8 billion spent online during the four-day Thanksgiving weekend. Although the vast majority of purchases were for non-consumable consumer packaged goods (CPG), consumable products are finding their place in the eCommerce channel as well.
Brand celebrates the holidays with samples of seasonal teas
December 6, 2016
Boulder, Colo.-based Celestial Seasonings, a brand of The Hain Celestial Group Inc., is inviting tea lovers to celebrate the magic of the season with a free Candy Cane Lane Holiday Tea sample program on Facebook.
Seattle-based Starbucks Corp. announced that Kevin Johnson, president and chief operating officer (COO) and a seven-year member of the Starbucks Board of Directors, will expand his responsibilities and assume the role of president and chief executive officer, effective April 3, 2017.
Purchase, N.Y.-based PepsiCo Inc. announced that it has entered into a definitive agreement to acquire Oxnard, Calif.-based KeVita, a producer of fermented probiotic and kombucha beverages. The transaction will expand PepsiCo's health-and-wellness offerings in the premium chilled beverage space, the company says.
KonaRed Corp., Koloa, Hawaii, the manufacturer of premium Hawaiian Cold Brew and Whole Bean Coffee, announced that its comparative revenue grew by 132 percent from $174,000 in Q3 2015 to $404,000 for the three-month period ending Sept. 30. Revenue for the comparative nine-month period grew by 34 percent from $587,000 to $789,000, the company says.