Significant Expansion of Latin American Tea Market: Ken Research
Posted on 04 October 2016 by KenResearch Food and Beverage,
Ken Research has recently announced its latest publication “Hot Tea Consumption Volume and Growth Forecast to 2021-Latin America”, which elucidates detailed analysis of hot tea market of Latin America. It provides a top-level overview and detailed insight into the operating environment for the Hot Tea market in Latin American nations. It is an essential tool for companies active across the Hot Tea value chain and for new players that are considering entering the market. This report includes top level Hot Tea consumption actual data for 2010-2014, provisional data for 2015; while forecasts are provided for 2016-2021 across 17 individual countries. It further, enhances knowledge about current consumer and market scenario prevailing in the region.
Economy of Latin America
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. Latin America is facing drab economic growth because of extreme economic disturbances. Negative growth rate is recorded in countries like Brazil and Venezuela. Political disputes in Brazil, inflationary pressures in Uruguay, economic tribulations in Chile, serious recessionary conditions prevailing in Venezuela shows the economically backward state of Latin American countries. Unemployment, rising inflation, economic slowdown, falling consumer confidence, poverty, corruption, etc. are the traits of Latin American economies. Only Peru and Mexico are performing well in Latin America, growing steadily at positive rate. However, many economic analyst predict rapid growth and stability in major economies of Caribbean Nations post-2016.
Historic and current market trends of hot tea market of Latin America
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. Even though coffee culture is expanding rapidly in Latin America but tea is also gaining popularity in Latin America. Portuguese colonial rule introduced tea culture in late nineteenth century to South America.
Various trends of hot tea market in Latin America are given below:
- Throughout Latin America coffee is preferred over tea except Chile and Bolivia where demand for tea is greater than that of coffee.
- Chile stands on 22nd rank on consumption of tea in the world.
- Tea demand is rising at stupendous rate in last few decades in Argentina, Brazil, Uruguay, Chile and Bolivia.
- Coffee plantations in Latin American nations are huge in countries like Chile, Brazil, Mexico and Bolivia. These massive production is done not only to cater to domestic demand but also to cater to exports. These plantations are generally export oriented.
- Guatemala’s coffee estate is elevating at a high pace and is contributing significantly to its gross domestic product and foreign exchange.
- Coca tea, high caffeine variety mate, ayahuasca, etc. are popular variety of tea in South American region.
- With changing culture, demand for newer variety of coffee with luxurious and fancy flavors is escalating at a high rate.
- With rising health awareness demand for health friendly teas are rising. Demand for green teas, herbal varieties, tea with antioxidants, etc. are also intensifying.
Major market players
Major mate tea brands include Cruz De Malta, Taragul, Mate Leao, Rosamoute, etc. Further, many other brands include Brisk tea, meh tea, The Tao of Tea, Organic Rio, etc. These are famous competitive tea brands of Latin America. They are not only producing tea for domestic demand fulfillment but also for exports.
Key topics covered
- Current economic scenario of Latin America.
- The quantitative data in the report provides historic and forecast of hot tea consumption data by Latin American countries.
- Top level hot tea actual data for 2010-2014, provisional data for 2015; while forecasts are provided for 2016-2021 across 17 individual countries of Latin American region.
- Detailed insight into the operating environment for the Hot Tea market of Latin America.
Hot tea market of Latin America is developing at substantial rate. Though this market is facing stiff competition from coffee market in Latin America since people still prefer coffee over tea in major part of South American region. But demand for tea is still enlarging in the region and thus production of tea is also expanding at a high pace. Moreover, contribution of Latin American tea exports is increasing in global market.
For more coverage click on link below:
Ankur Gupta, Head Marketing & Communications