The new report by Expert Market Research titled, ‘Global Alcoholic Tea Market Report and Forecast 2021-2026’, gives in-depth analysis of the global alcoholic tea market, assessing the market based on its segments like flavours, technologies, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): - USD 1.14 Trillion (Global Retail Alcoholic Beverage Market)
- Forecast CAGR (2021-2026): - 7% (Global RTD Alcoholic Beverage Market)
Tea is the world's second-most consumed drink, behind water. Canada, where the average tea drinker has 11 different types in its kitchen cupboards, has a particularly progressive population of tea drinkers that largely affects the demand for alcoholic tea. Thanks to a rising on-trade trend for tea cocktails and beers, alcoholic iced tea is among the alcoholic teas to have reached the market in the historical period. Following the trend, this year, Eteaket, the Scottish tea company, launched three tea beers and is planning to unveil a fourth. Harry Brompton's alcoholic iced tea brand became the first to enter a UK supermarket after securing in February 2014 a listing for its 4 percent ABV tea in 56 Waitrose shops, and the company managed to gain listings in Sainsbury's and Ocado. Japanese restaurant chain Wagamama became the first UK restaurant serving iKi beer in November 2013, a 'fusion' of wheat beer and green tea. Such developments have positively impacted the market growth in the historical period.
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Industry Definition and Major Segments
Alcoholic tea is a kind of drink that is prepared in particular quantities by combining tea and alcohol. These drinks are the ideal way to mix tea and cocktail and can be personalised easily by selecting one form of tea or another. These are available in various variations, from boozy sweet teas to fancy martinis tea.
Based on flavour, the market is categorised into:
- Irish Cream
By technology, the industry is divided into:
- Sweet Apricot
On the basis of end-use, the industry is bifurcated into:
Based on region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The foodservice tea market is likely to have an advantage in future growth momentum as revenues are projected to rise and further drive the sales of the alcoholic tea market. When it comes to new tea offerings, millennials are seeking novelty and variety. Interest in the alcoholic tea market continues to be driven by the increasing interest in health and wellness as well as the demand for whole food offerings. Innovation, backed by a good taste and balanced product, ensures that the demand for alcoholic tea in the U.S. will continue to expand. The completely modern young alcoholic tea market has opened new versions of tea-infused alcoholic beverage specialties. With the crisp, transparent taste of premium tea on the back of which the alcoholic tea market is surging, the tea-infused cocktails are becoming the hottest trending island-inspired flavours and is expected to continue to support the market growth in the coming years.
Key Market Players
The major players in the market are Red Diamond, Inc., Tea Venture Limited, MB-Holding GmbH & Co. KG, Noveltea, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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