Scope of the Study
Tea Sticks market has high growth prospects due to the increasing availability of ready-to-drink tea and growing awareness of the health benefits boost the global market. This growth can be attributed to factors such as rising advertising strategies about flavored tea products coupled with the stable growth in the tea industry. There has been a significant rise in tea sales with a figure stood up to 7.25 USD million in the United States alone in 2017 with a 5.9% rate from 2015. So, the future for tea sticks looks promising. Additionally, increasing demand for tea sticks is due to several properties such as anti-aging and cancer-fighting that will propelled the market growth. The major companies are adding more innovative techniques in Asia-Pacific countries as these countries are focused on the fastest-growing verticals for the food & beverage products.
The market study is being classified by Type (Stainless Type, Plastic Type and Other), by Application (Household, Restaurant, Hotel and Others) and major geographies with country level break-up.
Oggi (United States), Blomus (United States), Gamila (United States), Vacu Vin (The Netherlands), Bigelow (United States) and Stash (United States) are some of the key players profiled in the study.
In Tea Sticks Market, it has been observed that most of the companies are upgrading or introducing innovative beverages products for improving freshness products. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Tea Sticks market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Tea Sticks market by Type, Application and Region.
On the basis of geography, the market of Tea Sticks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Luxurious Lifestyles and Premium Products
- Growing Consumer Demand for Health Conscious Products
- High Cost Associated with Tea Sticks
- Overuse of Tea Sticks Leads to Side Effects Such as Nausea and Others
- Upsurge Demand for Different Flavored Tea Sticks
- Growing Number of Restaurants and Hotels Boost the Growth of the Market
- Many of the end-users do not come to know about the benefits of tea sticks products. This causes the loss of manufacturing products, operational cost, revenue, and other companies. Lack of acceptability for the tea sticks due to substitutes products acting as the major threat for the market growth.
Market Leaders and their expansionary development strategies
In April 2019, Tata Global Beverages Ltd acquired the branded tea business of Dhunseri Tea & Industries Ltd for about ₹101 crore. This acquisition will strengthen the market presence and beneficial for distribution networks in different regions.
Key Target AudienceTea Sticks Manufacturers, End-Use Market Participants of Different Segments of Tea Sticks, Government and Research Organizations, R&D Institutions and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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