Albany, NY -- (SBWIRE) -- 10/19/2018 -- Tea has always been among the most popular casual drinks, and is consumed in volumes on a daily basis across the world. Recognizing its popularity, cafés have been mushrooming that offer several segments of the beverage as well as a high-standard environment for the customers for friendly or official meetings. Quick Service Restaurants (QSR) have also emerged that specialize in rapid delivery of tea packaged in a way to be consumed on the go. Although this expansion of tea-cafés and QSRs had remained limited to the developed countries initially, wherein coffee is more popular, now they have made a mark in emerging economies too, which is a reflection of increasing disposable income of the urban populations. Workplaces have adopted tea-machines admirably too, providing a mode of refreshment for their employees.
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All these factors put together, and several more, the market for out of home (OOH) team is flourishing, primarily in Asia Pacific. According to this business intelligence study, the demand in the global out of home team market will expand at an impressive CAGR of 10.4% during the forecast period of 2017 to 2025. Revenue-wise, the analysts of this report have estimated that there will be opportunities worth US$39,329.8 mn by 2025 in the global OOH tea market by the end of 2025, substantially more that the market's evaluated valuation of US$17,835.9 mn as of 2017.
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Black Tea and Green Tea Key Product Segments
Based on product type, the out of home team market has been segmented into black tea, green tea, herbal tea, match tea, oolong tea, and others on the basis of tea type. Among these, black tea type held the largest market share of around 33% in the global market in 2016. In addition, green tea segment of the market is anticipated to grow at a faster rate during the forecast period. The green tea segment is gaining traction from its health benefits in terms of weight loss.
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On the basis of packaging type, the OOH tea market has been bifurcated into tea bags, bottled tea, canned tea, and loose tea. As of 2016, the tea bags segment provided for the maximum demand, closely followed by loose tea. Dried and crushed tea leaves are packed in individual teabags or sachets in such a way that they are convenient to use at any place. Bottled tea and caned is tea packed in bottles or cans made by infusion or brewing process and stored in cool places. These teas are used in quick service restaurants (QSR), restaurants, bars and pubs, cafes, and work places. Quick service restaurants, restaurants, bars & pubs, hotels, café/coffee shop chains, work places, and outdoor are the end use categories that have been evaluated in this report for the market for OOH tea.