Technavio estimates the foodservice tea market in US to grow by USD 2.66 billion, progressing at a CAGR of almost 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Foodservice Tea Market in US 2020-2024 (Graphic: Business Wire)
The market is driven by the rising demand for mobile food service. However, the impact of overconsumption of tea might challenge growth.
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Foodservice Tea Market in US: Type Landscape
Based on the type, the market saw maximum growth in the iced tea segment in 2019. The segment is driven by the rising demand for flavored iced tea from Gen Z and millennial consumers in the US. The market growth in the segment will be significant over the forecast period.
Foodservice Tea Market in US: Distribution Channel Landscape
The full-service restaurants segment led the market with a 35% share in 2019. The growth of the market in the segment is driven by the growth of the food delivery and takeaway market in the US.
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Major Three Foodservice Tea Market Vendors in US:
Aroma Espresso Bar
Aroma Espresso Bar operates its business through the Unified segment. Some of the products offered by the company include iced tea and iced chai latte.
Davids Tea Inc.
Davids Tea Inc. operates its business through segments such as Canada and US. The company offers cheery berry punch and Caribbean crush.
Dunkin Brands Group Inc.
Dunkin Brands Group Inc. operates its business through segments such as Dunkin U.S., Baskin-Robbins U.S., Baskin-Robbins International, and U.S. Advertising Funds. Some of the products offered by the company include premium hot tea and iced tea.
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Related Reports on Consumer Staples Include:
Global Tea Market Global tea market is segmented by product (black tea, green tea, and others), distribution channel (offline and online), and geography (APAC, Europe, MEA, North America, and South America). Get a free sample report to know more
Global Slimming Tea Market Global slimming tea market is segmented by distribution channel (retail stores and online channels), product (green tea, herbal tea, and others), and geography (APAC, Europe, MEA, North America, and South America). Get a free sample report to know more
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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