Major players in the tea capsule market are Dualit Limited, Teespresso, Nestle Nespresso, Lipton, Corsini, Bonini S.r.l., and Red Espresso.
The tea capsule market consists of
sales of tea capsules and related services. Tea capsules are encapsulated tea
leaves that contain ingredients similar to an ordinary cup of tea. Tea capsules
offer convenience and comfort when making tea at home, in public places, or
even when traveling.
Asia Pacific was the largest region
in the tea capsules market in 2019. North America is expected to be the fastest
growing region in the forecast period.
In March 2019, Nestle's special T
brand partnered with Kusmi Tea to create a new range of specialty tea capsules.
The collaboration of two companies aimed at expanding the company's product
portfolio to serve the increasing demand for tea in the forthcoming years.
The tea capsules market covered in
this report is segmented by product type into red tea capsules, oolong tea
capsules, black tea capsules, yellow tea capsules, others. It is also segmented
by distribution channel into hypermarkets & supermarkets, specialty stores,
online stores, convenience stores, others and by application into residential,
commercial.
High prices of tea capsules are
projected to hinder the growth of the market. In addition to this, changing
consumer preferences towards healthy options in hot beverages such as almond
& maple hot chocolate, warm spiced coconut-almond milk, hot lemon water,
apple cider with cinnamon, and others are likely to hamper the demand for tea
capsules in the forecast period. Additionally, the rising price of tea is
anticipated to have an adverse effect on the tea demand including powder tea
and capsule tea. According to Trade Economics, the price of tea increased to USD
2.61 per kg in December 2019 up from USD 2.48 per kg in December 2018.
The players engaged in the
manufacturing and selling of tea capsules are adopting various strategies such
as mergers & acquisitions, new product launch, and plant capacity expansion
in order to maintain their position in the competitive business environment.
For instance, in March 2019, Nestle's premium capsule tea system Special.T
partnered with Kusmi Tea, a Paris-based tea brand to launch a new range of
jointly created tea capsules in Europe and other markets. This scenario of
launching new products by the companies is anticipated to attract new customers
for the tea capsules market, resulting in increased tea capsules market
revenue.
Increasing consumption of tea is
predicted to boost the demand for tea capsules market over the forecast period.
According to the International Institute of Sustainable Development (IISD), tea
has become the second most popular beverage after tea, with 3 billion cups
consumed every day across the globe. In 2017, the total tea production
accounted for 5.98 million tons worldwide. Furthermore, according to the Global
Dubai Tea Forum, per capita consumption of tea is projected to increase from
35.2 liters in 2017 to 37.7 liters by the end of 2021. The growing per capita
consumption is likely to propel the demand for tea capsules in the near future.
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