Joanna Cosgrove07.01.10
The concept of “tea time” in the U.S. might not bear quite the same significance as it does in the U.K., however, recent data examining the venerable beverage segment confirmed that American’s are making more time to enjoy their tea. Whether it’s served hot or cold, brewed or ready-to-drink (RTD), sales were boosted by exotic new tea varieties and flavor combinations, as well as the continued confirmation of tea’s health benefits.
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According to “Tea and RTD Teas – U.S.,” a report from Chicago, IL-based Mintel International, food, drug and mass market retailers (excluding Wal-Mart) toasted nearly $4 billion worth of tea and RTD tea sales in 2009, capping off a 42% sales increase spanning 2004 through 2009. But that’s just the beginning. Mintel forecasted the market to grow an additional 53% at current prices (41% in inflation-adjusted prices) during the years 2008 through 2013.
Sales by Category
The tea and RTD tea market is made up of four segments: RTD shelf-stable/canned/bottled te
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