The global pyramid tea bags market is expected to grow at a steady CAGR of 4.5% over the assessment period (2020-2030). The growth can be mainly attributed to increasing awareness about tea as a healthier option as compared to the popular beverages. Moreover, the e-commerce sector is foreseeing a major thrust amid COVID-19 outbreak, as society carry on to follow strict social distancing norms.
“Leading players can gain huge profits by stressing on escalating their manufacturing capacities and market presence.” says the FMI Analyst.
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Key Highlights
- North America to remain key beneficiary in the global market, however, East & South Asia to foresee rapid growth over the forecast period.
- Commercial end users will be the key beneficiaries in the global market throughout the forecast period.
- Nylon material type remains favourable in the production of pyramid tea bags during the assessment period.
- Direct sales holds more than 50% of the overall market revenue share by 2030 end.
Driving Factors
- Growing health awareness among millennials and younger consumers to complement market growth.
- Rising trend of RTD and refrigerated teas remains one of the key growth drivers.
- Convenience and changing lifestyle augmenting the growth of pyramid tea bags market.
- Launch of bold and bright pyramid sachet tea bags keeping ingredients in focus supporting the market growth.
Key Restraints
- Use of polypropylene by several tea bag makers to seals the bag to keep the tea intact inside the bag harms the environment, thus creating a bottleneck for the manufacturers.
- Higher cost associated with the bags in contrast to loose tea can act as a major constraint in the global market.
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Expected Impact on Market by Coronavirus Outbreak
The COVID-19 pandemic impacted the global pyramid tea bags market in the first half of 2020 as a result of slowdown of production process. However, as individuals follow stay at home norms and continues to thrive and work from home, amid the crisis, it presents noteworthy prospects for the pyramid tea bags market to boom. The market is poised to exhibit a positive growth pace from the second half of 2020.
Competition Landscape
Major companies active in the global market are Den’s Tea, Two leaves Natural, Jenier Ltd., PureCup, Den’s Tea, Zesta Tea, Tata Consumer Products Limited, F.T. Short, Tea Leaves AUST Pty Ltd., Bigelow, The East India Company Ltd., Dilmah Ceylon Tea Company PLC, JIN DA Tea Co., Ltd, R. Twining and Company Limited, Unilever PLC and Hain Celestial Group.
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More on the report
FMI’s report provides market analysis of key trends and macro-economic factors on the basis of capacity (small (below 3 gm), medium (3-5 gm), and large (above 5 gm)), material (nylon, paper, cotton, silk and others (corn starch, etc.)), distribution channel (direct sales, retailers (hypermarket, supermarket, convenience stores and other retail formats) and e-retail) and end use (institutional (educational institutions (schools and colleges), public institutions (govt. offices and public places), private institutions and movie theater) and commercial users (quick service restaurants (QSRs), hotels and cafes)) and region-wise segmentation (North America, Asia-Pacific, Eastern and Western Europe, Oceania).
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Development Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
5. Global Pyramid Tea Bags Market Demand Analysis 2015-2019 and Forecast, 2020-2030
5.1. Historical Market Volume (Units) Analysis, 2015-2019
5.2. Current and Future Market Volume (Units) Projections, 2020-2030
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5.3. Y-o-Y Growth Trend Analysis
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