Growth expected for tea, ready-to-drink tea market
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.
Jones Soda expands board of directors
SEATTLE — A former Altria Group executive has joined the Jones Soda board of directors.
Richard Cautero was appointed to the role by the existing board, the company said. In addition to working at Altria Group for nearly 30 years (most recently serving as VP finance for corporate planning and strategy), he also served as chief financial and operating officer for Maxwell House, a division of Kraft Foods.
"Richard has an incredible pedigree in the consumer brand space, having served key leadership roles with major brands including Maxwell House Coffee, Kraft Foods and General Foods among many others," Jones Soda CEO William Meissner CEO. "His deep understanding and experience in our industry sector brings a very strong addition to the Board. All of us at Jones Soda are very excited to have him as we look to continue building the strength of our team."
Chobani breaks ground on Idaho-based production facility
NORWICH, N.Y. — Chobani announced that it broke ground on a new state-of-the-art, high capacity production facility.
The domestic manufacturing plant, based in Twin Falls, Idaho, will span 940,000 sq. ft. This facility, Chobani said, will create more than 400 jobs and allow the company to bring product innovations to market.
Production at the new plant is anticipated to start in the second half of 2012.