Demand for tea as a healthy beverage grows, CCC says
View(s):The demand for tea, considered the world’s most consumed beverage, is growing with consumers shifting from carbonated drinks to healthy beverages, providing an opportunity to global tea sector players such as Sri Lanka, the Ceylon Chamber of Commerce (CCC) said.
An analysis done by the chamber’s Business and Information Division on international tea trends for 2012 and 2013 reveals, that the increasing level of awareness among consumers of the health benefits of tea and also its anti ageing properties that have helped in the latest shift in demand for tea.
According to the study, tea has found new demand from the aging population in Japan, Europe and the US markets, among several other segments.
In 2013, over 290 billion litres of tea has been sold in retail and food service, with the retail value amounting to US$40.7 billion. Despite the huge promise the commodity has, it still lacks the high value found in competing beverage markets, the report says.
“These point out a key opportunity for tea manufacturers and retailers, as volume continues to grow, and value begins to catch up through ‘premiumisation’ and changing habits there is a huge amount of long term growth available for the taking and a incredible opportunity for those who understand the evolving market,” it added.