$1.3bn
$XXX.Xm
3,003
279
$XXX.Xm
Tea producers blend and package tea, excluding iced and ready-to-drink tea. It was common for tea to fall behind coffee; however, changes in consumer preferences have allowed tea producers to accelerate. Consumers are becoming more health-conscious, looking for alternatives to sugary drinks. Producers are leveraging these changes to promote the health benefits of tea and increase sales. These campaigns have proven successful, as the younger generations are becoming significantly more health-conscious, creating a larger customer pool. Although tea is growing in popularity, the COVID-19 pandemic, rising inflation and a strong US dollar have negatively impacted the industry. An appreciating US dollar increases the price of domestically produced tea compared with the price of foreign tea, lowering demand and hindering revenue growth. Similarly, growing inflation lowers consumers' purchasing power, forcing them to limit the products they purchase when grocery shopping. Industry-wide revenue has been shrinking at an average annualized 0.7% over the past five years and is expected to total $1.3 billion in 2024 when revenue will inch upward by an estimated 0.2%.
Industry revenue has declined at a CAGR of 0.7 % over the past five years, to reach an estimated $1.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Unilever N V | 534.3 | 90.9 | 17.0 | |
Bigelow Tea Company | 194.1 | 23.5 | 12.1 | |
Starbucks Corporation | 166.2 | 12.0 | 7.2 |
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Industry revenue is measured across several distinct product and services lines, including Bagged black tea, Loose black tea and Bagged green tea. Bagged black tea is the largest segment of the Tea Production in the US.
Black tea is a prominent segment, but is losing momentum
This industry comprises businesses that blend and package tea, excluding iced and ready-to-drink tea.
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NAICS 311920 - Tea Production in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Increasingly health-conscious consumers support tea sales. Many people want to change their consumption of sugary drinks to healthier alternatives, such as tea.
Learn about an industry's products and services, markets and trends in international trade.
Consumers looking for convenience purchase bagged teas. This has resulted in higher sales for bagged products as customers don’t have to strain the tea, find loose leaves on ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Tea producers base operations in proximity to major trade ports. Most tea producers import their tea leaves; therefore, proximity to major ports allows producers to lower tra...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Producers with strong relations and contracts get prime shelf space. Having contracts with grocery stores and supermarkets guarantees good product positioning around the stor...
Learn about the performance of the top companies in the industry.
Large producers work toward sustainability. Many companies are participating in decreasing their carbon footprint and adopting sustainable practices.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Tariffs on Chinese products are a double-edged sword. Although the price of Chinese teas increased as a result of the tariffs, so did the price of tea leaves, increasing prod...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
An appreciating US dollar lowers input prices. Producers import most tea leaves. A strong US dollar makes imported inputs more affordable for domestic producers.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Tea Production in the US industry in United States is $1.3bn in 2024.
There are 279 businesses in the Tea Production in the US industry in United States, which has grown at a CAGR of 4.6 % between 2019 and 2024.
The market size of the Tea Production in the US industry in United States has been declining at a CAGR of 0.7 % between 2019 and 2024.
Over the next five years, the Tea Production in the US industry in United States is expected to grow.
The biggest companies operating in the Tea Production market in United States are Unilever N V, Bigelow Tea Company and Starbucks Corporation
Importing tea leaves and Tea leaf oxidation are part of the Tea Production in the US industry.
The company holding the most market share in United States is Unilever N V.
The level of competition is moderate and increasing in the Tea Production in the US industry in United States.