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.
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.
US craft spirits market shows potential for growth
October 18, 2016
The American Craft Spirits Association (ASCA), International Wine and Spirits Research (IWSR) and Park Street released highlights from the Craft Spirits Data Project at the inaugural Craft Spirits Economic Briefing at the Nomad Hotel in New York. The Craft Spirits Data Project, announced earlier this year, is a research initiative to provide a solid and reliable fact-base for evaluating performance and trends in the U.S. craft spirit industry, the companies say.
Plano, Texas-based Dr Pepper Snapple Group (DPS) released it second quarter 2016 financial results. For the quarter, reported net sales increased 2 percent based on favorable product and package mix, net price increases and a 1 percent increase in sales volumes, which were partially offset by unfavorable segment mix.
Forty-four percent of consumers are visiting convenience (C-stores) stores more often — and half say they are visiting significantly more often than they did just two years ago, according to Chicago-based Datassential, which surveyed 1,000 consumers and 150 operators for its June “C-Store Keynote Report.” While visiting C-stores, these consumers also are buying more prepared food and beverages, the report notes.
In evaluating its forecasted growth expectations for beverage alcohol sales at the nation's bars and restaurants, Chicago-based Technomicexpects to see modest improvements in 2016, the market research firm says. This comes from research conducted for Technomic's Adult Beverage Planning Program, a membership-based program delivering suppliers with research on key topics and trends related to the adult beverage on-premise industry.
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