The United States nitro tea industry is experiencing a significant surge, fueled by rapid growth in coffee and tea shops across the country. With a robust CAGR of 8.2%, this trend is reshaping the beverage landscape and opening new avenues for industry players.
NEWARK, DE / ACCESSWIRE / July 5, 2024 / The nitro tea market value is estimated to be worth USD 27.3 million in 2024. Global nitro tea demand is set to progress at a CAGR of 7.8% during the assessment period, total market value is projected to reach USD 58 million by 2034.
Nitro tea's adoption is shooting up as consumers are preferring their tea to be healthy while still giving the familiar whiff of the renowned drink. The antioxidant properties of nitrogen-based tea are thus earning it more consumers. The overall popularity of nitro drinks is also responsible for the tea product's proliferation.
Tap into Market Opportunities and Stay Ahead of Competitors - Get Your Sample Report Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-19693
Ready-to-drink beverage versions of the product are becoming popular as consumers prefer convenience in their drinking. The online boom helps too as it ensures consumers do not have to go out of their way to procure these drinks.
Manufacturers are focused on reducing the cost associated with manufacturing to increase profit margins. Manufacturer focus is also being pulled towards packaging. Attractive packaging that draws in consumers is seen as the way to forge ahead in the market.
There are, however, certain factors that limit growth. The limited availability of usable nitrogen gas, especially in areas where nitrogen beverages have not made a big impact, is a concern. Lack of knowledge about the drink is also an industry negative.
Key Takeaways from the Nitro Tea Market
The nitro tea market value is anticipated to total USD 27.3 million in 2024.
By product type, nitro ginger ale green tea held a market share of 28% in 2023
Specialty tea stores accounted for a value share of 62% in 2023.
South Korea is projected to record a CAGR of 10.0% through 2034.
China and Japan are poised to exhibit CAGRs of 8.6% and 9.1%, respectively.
Sales in the United Kingdom will likely soar at 9.1% CAGR through 2034.
"Manufacturers are cognizant of the trend that consumer interests are fickle. Thus, they are focusing on introducing new flavors in the market. Thus, diversity in the product line is seen as the key moving forward," - Nandini Roy Choudhury, Client Partner at Future Market Insights
Who is Winning?
Making versions of nitro tea available at an economic price is being practiced by manufacturers to improve demand. The rate of new entrants coming to the market is also high. Few of the prominent companies in the market include Starbucks, Caveman Coffee Company, BonaFide Nitro Coffee & Tea, East Forged, and Rise Brewing Co.
Recent Developments in the Nitro Tea Market
In December 2023, market player Twrl Milk Tea teamed up with Whole Foods Market to expand its presence and boost sales.
In May 2024, ready-to-drink (RTD) Cold Brew Nitro Tea brand East Forged won the Best Processing Award at the Hive Awards.
Get in Touch with Our Sales Team to Secure Your Copy of the Report Now! https://www.futuremarketinsights.com/checkout/19693
Below is an in-depth analysis of the Nitro Tea market with country-wise insights:
United States
Market Trends:
Consumer Preference: Strong demand for innovative and health-conscious beverages.
Café Culture: High adoption in specialty cafes and coffee shops.
Health Awareness: Growing inclination towards low-calorie and sugar-free options.
Key Players:
Starbucks, Dunkin' Brands, and niche local cafes.
Market Size & Growth:
Expected steady growth with increasing consumer awareness and product availability.
Canada
Market Trends:
Health & Wellness: Rising demand for healthy beverages.
Seasonal Variations: Increased consumption during warmer months.
Key Players:
National chains like Tim Hortons and independent cafes.
Market Size & Growth:
Moderate growth with a focus on organic and natural ingredients.
United Kingdom
Market Trends:
Innovation: Strong emphasis on new product launches and flavor innovations.
Retail Expansion: Growing presence in retail stores and supermarkets.
Key Players:
Costa Coffee, Pret A Manger, and various artisanal tea brands.
Market Size & Growth:
Rapid growth driven by increasing consumer interest in premium tea experiences.
Germany
Market Trends:
Sustainability: High consumer interest in sustainable and eco-friendly products.
Tea Culture: Established tea culture facilitating market entry.
Key Players:
Independent tea shops and European chains.
Market Size & Growth:
Positive growth with a focus on organic and fair-trade products.
Japan
Market Trends:
Tea Tradition: Strong existing tea culture and consumer openness to innovation.
Convenience: High popularity in convenience stores and vending machines.
Key Players:
Ito En, Kirin, and other local beverage giants.
Market Size & Growth:
Significant growth potential due to high consumer interest in innovative tea products.
Want More Insights?
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global nitro tea market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights based on product type (nitro ginger ale green tea, nitro hibiscus tea, nitro matcha tea, nitro peach tea, nitro masala tea, nitro strawberry tea, and others), distribution channel (specialty tea stores, supermarkets, convenience stores, online stores, and others), and end user (individual consumers, HoReCa, and institutional) across several regions.
Report Preview: https://www.futuremarketinsights.com/reports/nitro-tea-market
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI's related ongoing Coverage in the Food and Beverage Domain:
Global sales of natural tea extract are estimated to total USD 5.4 billion in 2024 and USD 11.1 billion by 2034.
The demand for ready-to-drink (RTD) tea is capturing a valuation of USD 34.3 billion in 2023 and is projected to reach USD 72.9 billion by 2033.
Global black tea extracts market demand is anticipated to be valued at USD 137.5 million in 2023, forecast to grow at a CAGR of 4.7% to be valued at USD 217.6 million from 2023 to 2033.
Global nitrogenated coffee market demand is anticipated to be valued at USD 40 Billion in 2022, forecast to grow at a CAGR of 4.1% to be valued at USD 60 Billion from 2022 to 2032.
The global iced tea market size is anticipated to be worth USD 12,132 million by 2034. According to the estimates, the market is projected to clock a 6.0% CAGR until 2034.
The Sales of USA bubble tea market is forecast to increase from USD 368.7 million in 2023 to USD 1,245 million by 2033.
The global herbal tea market share is forecasted to be valued at USD 3,962.7 million in 2023 and expected to grow at a CAGR of 7.3%, valued at USD 7,693.5 million by 2033.
The organic tea market size is expected to expand its roots at a steady CAGR of 8.0% the market is likely to hold a revenue of USD 1.24 billion in 2023 while it is anticipated to cross a value of USD 2.69 billion by 2033.
The kombucha tea market share is projected to expand its roots at a steady CAGR of 12% and market is likely to hold a revenue of USD 1.72 billion in 2023 while it is anticipated to cross a value of USD 5.4 billion by 2033.
The sales of instant tea premix estimate of USD 1,943.50 million by 2024 to be gained by the market surge in tea culture will further propel the size to a USD 2,893.4 million valuation by 2034.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact FMI:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
SOURCE: Future Market Insights, Inc.