The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, June 8, 2023 /PRNewswire/ — As per The Business Research Company’s Coffee And Tea Global Market Report 2023, the increasing focus of individuals towards health and fitness is expected to propel the growth of the coffee and tea market during the forecast period. Tea contains potent antioxidants known as flavonoids, which stabilize harmful free radicals in the body. In addition, tea comprises vitamins C, K, B12, B6, and E; a trace amount of potassium, manganese, magnesium, and calcium minerals; and different amino acids such as L-theanine. Several studies and research on tea suggest that it prevents cancer, lowers cholesterol, facilitates weight loss, and enhances immunity. These benefits will drive demand for coffee and tea market.
The global coffee and tea market size will grow from $112.2 billion in 2022 to $120.8 billion in 2023 at a compound annual growth rate (CAGR) of more than 7%. Further as per the coffee and tea market report, the tea and coffee market share is expected to grow to $156.5 billion in 2027 at a CAGR of more than 6%.
Learn More On The Coffee And Tea Market Report – https://www.thebusinessresearchcompany.com/report/coffee-and-tea-global-market-report
With increasing awareness on health and fitness among millennials, manufacturers in the coffee and tea specialty market are focusing on producing a pure form of organic tea which carries a unique flavor and taste. For instance, in September 2022, NutroCore, a Brazil-based supplier of premium organic and non-genetically modified organism (GMO) certified organically-grown coffee, tea, and other health food products, launched its latest product, cinnamon turmeric organic coffee. It tastes like full-flavored coffee, not turmeric water. This coffee is also infused with premium-grade cinnamon and turmeric powder. These natural foods are well-known for their ability to boost cognitive functions and strengthen the immune system. Further, in February 2022, Clipper Teas, a UK-based tea company, launched its new organic and fair-trade green tea and mint.
In addition, in May 2022, Mysuru Central Food Research Technology Institute (CFRTI), an India-based research institute, invented coffee leaf beverage. SLN coffee, an India-based manufacturer and exporter of coffee has bought this technology and it will launch the leaf beverage in small packets like tea bags. The drink can be made with water, filtered, and consumed after a few minutes. The drink contains health-promoting polyphenols such as chlorogenic acid and mangiferin, which help reduce blood glucose levels, inflammation and blood pressure.
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The global coffee and tea market is segmented –
1) By Type: Coffee, Tea
2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
3) By Form: Liquid, Powder, Capsules
4) By Packaging: Containers, Bags, Packets or Pouches
The Business Research Company recommends players in the coffee and tea market to adopt strategies such as collaborations and partnerships, joint ventures, new product launches and strategic acquisitions to expand their product portfolio and stay relevant in the market.
View More Similar Market Reports:
Organic Coffee Global Market Report 2023
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Organic Tea Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/organic-tea-global-market-report
Coffee Capsule Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/coffee-capsule-global-market-report
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