NEW YORK, USA – Technavio has announced its latest market research report titled “Specialty Tea Market by Application (residential and commercial) and Geography (APAC, Europe, North America, South America, and MEA)”.
The specialty tea market share growth by the residential segment will be significant for revenue generation. The consumption of tea for residential is significantly growing, as consumers are continuously seeking changes in their lifestyles and food habits and experimenting with cuisines & beverages.
Moreover, the rising at-home consumption of tea is expected to grow at a steady rate owing to increasing urbanization and the changing eating habits of consumers across the world.
The specialty tea market is set to grow by USD 5.50 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.04%.
The market is driven by the growing tea cafe culture. However, the impact of overconsumption of tea might impact the market growth adversely during the forecast period.
The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge.