Sage Group® Networks LLC, a Seattle-based based tea industry think-tank and publisher has just released its latest business-to-business (B2B) publication, the 7th Edition Specialty Tea Is “Hot” Report®. Since 1993, this diverse business report has focused upon specialty tea trends, investment activity, retail developments, and dozens of other topics pertinent to members of the thriving tea marketplace. The new 7th Edition Specialty Tea Is “Hot” Report features an exceptionally diverse selection of industry trend and technical information for retailers, wholesalers, and branded products manufacturers. Additionally, the new report features extensive analysis on the burgeoning growth of retail tea chains, big-league investors making tea-related deals, and interviews with specialty tea industry masters, pioneers, and experts. Significant coverage of the burgeoning Canadian specialty tea industry is also part of the new report.
“The specialty tea industry is booming across North America. Virtually every distribution channel and product type is experiencing growth. Our analysts estimate the U.S. tea industry is substantially larger than anyone has calculated previously,” notes Sage Group founder Brian R. Keating. “No one has ever taken the effort to drill down into the massive foodservice segment of the tea industry. Yet, industry trade groups estimate more than 75 percent of all tea consumed in North America is iced or cold. The total tea market size has been grossly underreported.”
Sage Group Networks analysts, using a new quantification model they developed, estimate total 2011 U.S. tea industry gross revenues collected through all foodservice and retail outlets to be greater than $27 billion dollars. This revised industry estimate covering all tea product types sold through all distribution channels not only far exceeds every previous tea market quantification, but places total tea activity much closer to coffee in terms of annual gross revenues. “Coffee and tea are truly dynamic ‘sister’ beverages commanding significant sales globally and especially in the United States and Canada. While coffee remains a beverage powerhouse across North America, tea is a very dynamic category, especially at a time when consumers are turning away from carbonated soft drinks and toward healthier options such as tea,” according to the publisher.