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Despite the fact that tea market sales have remained relatively flat, there have been small pockets of growth in the $6.1 billion ready-to-drink (RTD) tea category, which saw a compound annual growth rate (CAGR) of 2.2 percent from 2013-2018, noted Los Angeles-based IBISWorld’s December 2018 report titled “RTD Tea Production in the US” in the June issue of Beverage Industry.
Psychic TEAz recently released Champagne TEAz, which is a non-alcoholic, loose-leaf tea available in 1.2-ounce bags (20 servings) for a suggested retail price of $9.99.
Today, consumers worldwide are enjoying tea hot or iced in familiar flavors like black, white, green and oolong as well as in newer varieties like matcha and sencha.
Hot or cold, bottled or bagged, tea is one of the most recognizable, widely consumed beverages in the world due to its healthy halo, premium options and flavor innovations.
Continued interest in health and wellness, back to nature and proactive health trends have resulted in consumers turning to products that boast a natural, healthy halo. Although bottled water has experienced the most notable gains from these trends, bagged, loose-leaf and ready-to-drink (RTD) teas also have benefited from their associations as better-for-you products.