NEW YORK — The tea market is expected to see a surge in sales this year and beyond, according to a Packaged Facts report.
"Tea and Ready-to-Drink Tea in the U.S.," which was published in October, projected that the tea market will grow 5.2% to $6.5 billion this year, with retail tea market growth climbing from 6.6% in 2012 to 8.7% in 2014, reaching $8.3 billion in that year.
The report also noted that although supermarkets tend to be the biggest retail channel for leaf tea and ready-to-drink tea, sales also have been strong in convenience and natural food stores, with natural food stores recording canned and bottled teas as having double-digit growth.
Additional trends in the market include Fair Trade USA certified products, which rose 38% in the past year, in addition to the expansion of partnerships with Green Mountain Coffee Roaster's Keurig single-cup brewing system.
Click here for the full report.