Gin and Tonic Tea Market Forecast and CAGR
The global sales/shipment of gin and tonic tea are estimated to witness a steady growth during 2021-2031. Gin and tonic tea has gained popularity owing to the variety in flavour it offers to tea lovers. Since, it is a blend of various botanicals such as juniper berries, fennel, coriander, and lemon it enhances regular tea with the flavour of gin and tonic without the consequences that come with consuming alcohol, which is estimated to appeal to consumers worldwide.
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The Millenial Population Driving Demand for Premium Products
According to a FONA International analysis from 2019, premiumisation products have been introduced as a result of a significant number of the millennial demographic expecting intriguing and novel food and beverage experiences. Despite the pandemic and economic slump that has afflicted various countries around the world, consumption of premium foods and beverages has increased dramatically in recent years. The seemingly contradictory purchasing behaviour of millenials to demand more premium products is projected to promote gin and tonic tea sales.
Retail customers are trading in staple foods for gourmet and premium foods such as high-end coffee, gourmet pasta, alcohol-flavoured tea, and luxury chocolate, among others. Because there are less alternatives for customers to spend their money on during the pandemic, they have moved to indulging in a variety of food and beverages, which is expected to affect the market outlook for gin and tonic tea.
Shifting Consumer Perceptions about Alcoholic Drinks
Global food and beverage industry trends such as mindful drinking and a growing pool of sober curious customers are predicted to promote sales of gin and tonic tea since it provides the flavour and experience of consuming alcoholic beverages without the repercussions.
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Furthermore, demand for functional and wholesome beverages is expected to rise during the forecasted period. Because of increased preferences for non-alcoholic beverages and low-alcohol ready-to-drink beverages, North America, Europe, and Asia Pacific will contribute considerably to the rise of gin and tonic tea sales.
Consumers are likely to be interested in interesting new product advancements in the gin and tonic tea market. Rosie Lea Tea, for instance, offers their gin and tonic tea in eco-friendly packets that decompose after three months. The aforementioned factors are expected to lead to an increase in gin and tonic tea sales over the next decade.
The US and Canada Demand Outlook for Gin and Tonic Tea Market
Several households in the region have switched to products associated with indulgence and convenience in recent years. As the current trend continues, the North American gin and tonic tea market is predicted to grow steadily throughout the forecasted period. In the North America, Canada is expected to witness an increase in demand for gin and tonic tea products owing to its significant population of millenials.
Because of the health benefits connected with green tea beverages, gin and tonic green tea is projected to see increased demand in the region. Although gin and tonic tea infused with green tea leaves does not claim to provide similar benefits, it is expected to benefit from the restorative properties of green tea, which will appeal to a growing number of health-conscious consumers in the North America market.
Europe Gin and Tonic Tea Market outlook
Europe is estimated to hold a significant share of the gin and tonic tea market owing to increased popularity of tea-based beverages in the region. UK-based luxury department store Fortnum and Mason launched its gin and tonic green tea bags in 2017 amid raving reviews from consumers across the nation.
Although still a niche market, gin and tonic tea is gaining popularity in Europe due to the flavour of gin and tonic combining well with that of tea. Manufacturers are attempting to capitalise on consumer preferences for botanically-infused alcoholic and alcoholic-flavoured products.
By sustaining the narrative of natural sourcing and premiumisation, gin and tonic tea enables regional manufacturers to venture out and give consumers higher quality and a wider variety, which will contribute to its increasing demand in the region.
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Gin and Tonic Tea: Key players
Some of the key players in the gin and tonic tea market include
- Fortnum & Mason
- Rosie Lea Tea
- Royal Botanical Garden Kew
- Cornelia Bean Ltd.
- Keva Flavours
- Charbay
- Boston Beer Company
- MKE Brewing Company
Gin and Tonic Tea: Market Segmentation
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Based on Type, the global gin and tonic tea market is segmented as:
- Green tea
- Black/white tea
- Fruit tea
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Based on Form, the global gin and tonic tea market is segmented as:
- Leaves
- Tea bag
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Based on Source, the global gin and tonic tea market is segmented as:
- Organic
- Conventional
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Based on End use, the global gin and tonic tea market is segmented as:
- Cafes/Foodservice
- Retail sales
- Industrial
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Based on Region, the global gin and tonic tea market is segmented as:
- Europe
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Oceania
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