Ken Research has recently announced its latest publication on “Hot Tea Consumption Volume and Growth Forecast to 2021-Latin America” which aims at providing in depth analysis of hot tea market of Latin America and it further provides profound understanding of the latest consumer trends and key macroeconomic factors driving demand for Latin American hot tea market. Further, it offers thorough insights of the market including information about leading market players and major influences driving innovation in market. Report also seeks to sketch a detailed view about future of Latin American tea industry by looking into recent market trends.
Overview of hot tea industry of Latin America
Few countries of Latin American economy is facing immense economic adversities while others are becoming economically affluent. Except Brazil and Ukraine other countries of Latin America is facing positive economic growth. Latin American countries covered in the report include Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Uruguay, and Venezuela.
Hot Tea is a ready to drink beverage from infusion of dried tea leaves or herbal and/or fruit ingredients in hot water or from instant, freeze-dried tea in granular or powdered form. Despite of rising tea culture demand for tea culture is also rising in Latin America. Chile and Bolivia are highest consumer of tea in South America. These are the only two nations that prefer tea over coffee. Further, rising demand is witnessed in nations like Brazil, Bolivia, Chile, etc. Further, Guatemala’s tea plantations are expanding its production in South America which are significantly contributing to world tea exports. Major tea brands like meh tea, brisk tea, the tao of tea, organic Rio, etc. becoming popular not only in Latin America but throughout the world.
Key drivers in hot tea market in Latin America
Demand for tea is rising substantially in Latin America. Demand for major varieties like mate leao, rosamonte, etc is rising globally. Various factors has led to expansion of Latin American tea market:
- Popularity of health campaigns
Since health awareness is rising throughout the globe thus demand for many health friendly teas are rising. Significant rise in demand for herbal tea, slimming tea, antioxidant tea, etc. is rising throughout Latin America.
- Rising demand for Latin American tea globally
Demand for Latin American mate tea is increasing on a massive rate globally. This is leading to expansion in production base and rise in exports of Latin American coffee.
- Demand for exotic flavors and variety
Demand for exotic flavors and new innovative taste of tea are rising. This has surged demand for tea in various parts of Latin America.
Future of hot tea industry
Latin American tea industry is rising significantly with higher demand, production, revenue and exports. Though this industry is facing competition from other hot beverages like coffee, but still tea industry is expected to grow significantly in future. Higher demand is expected from regions like Chile, Bolivia and Brazil. Aggressive marketing campaigns, research and development to introduce new flavors, better channels of distributions, etc. are used for further expansion of market.
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Ankur Gupta, Head Marketing & Communications