Demand for tea is growing: An opportunity for global tea producers
Tuesday, 27 May 2014 00:00
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An analysis by Ceylon Chamber of Commerce
The demand for tea, which is the world’s most consumed beverage, is growing with consumers shifting from carbonated drinks to healthy beverages, providing an opportunity to the global tea sector players such as Sri Lanka.
An analysis done by the Business and Information Division of the Ceylon Chamber of Commerce on the Global Tea Sector covering the year 2012 and 2013 reveals, that the increasing level of awareness among consumers of the health benefits the tea has and also its anti ageing properties have helped in the latest shift in demand for tea.
According to the study, tea has found new demand from the ageing population in Japan, Europe and the US markets, among several other segments.
During the year 2013, over 290 billion liters of tea has been sold in retail and food service, with the retail value amounting to $ 40.7 billion. Despite the huge promise the commodity has, the report identifies, it still lacks the high value found in competing beverage markets.
“These points out a key opportunity for tea manufacturers and retailers, as volume continues to grow, and value begins to catch up through premiumisation and changing habits there is a huge amount of long term growth available for the taking and a incredible opportunity for those who understand the evolving market”, the report added.
According to the report, Sri Lanka’s tea exports in 2013 has hit the highest ever earnings figure, recording a sum of $ 1.54 billion, reflecting a 21.56% increase over the previous year.
The statistical analysis of the ‘Tea Sector’ compiled by the Ceylon Chamber of Commerce, gives you a detail breakdown of a statistical study on tea product wise, exports and imports by value, quantity and source of exports and imports globally and locally.
Interested parties who want to purchase the report please call 5588892or e-mail [email protected].
