Boston, MA -- (SBWIRE) -- 06/11/2014 -- The tea market, like coffee, is heavily dependent on imports, with the fallout from the economic crisis and currency devaluation of 2011, tea growth was stymied. Although total volume sales of tea continue to increase in 2013, they are yet to reach the level seen prior to the financial crisis in 2008. Thanks to lower inflation in both 2012 and 2013 and widespread discounting, the rate of growth increased to 4% in both years, in volume terms. Inflation in Belarus, remains comparatively high in 2013, which caused current value sales to grow by 34%, similar to growth in 2012.
In 2013, Orimi Trade remained the clear leader in tea, with a value share of 29% of the market. Offering a broad assortment of product types and flavour variants under its widely distributed Greenfield, Princess and Tess brands, the company held leading positions in black tea and green tea, and claimed second place in fruit/herbal tea. The company's tea portfolio covers all the main price points: Greenfield competes at the higher end of the mid-price segment, while Tess and Princess are from mid-price and economy segments espectively.
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Price will remain a key platform for competition in tea over the forecast period, with the effects of the 2011 crisis will continue to be felt for some time in the beginning of the forecast period. In addition to running price-based promotions, companies will offer consumers better value for money by introducing new brands, more economical pack sizes and cheaper packaging formats. The health and wellness trend is also expected to have a major influence on new product development. This is likely to lead to greater segmentation, with companies expected to introduce new products that claim to offer specific benefits for different age groups, consumers with certain types of lifestyles or health conditions. Greater segmentation will also see manufacturers introduce new products for different times of the day; for example, refreshing teas for the morning and relaxing teas for the evening. Moreover, with consumers becoming increasingly busy in Belarus, tea producers are expected to launch new products and packaging formats that offer greater convenience.
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