GlobalData reports that in 2019, the U.S. hot tea market stood at $2.8 billion and is expected to have a compound annual growth rate (CAGR) of 4.8 percent through 2023, reaching $3.4 billion. The projected growth is expected to come from the category’s plethora of innovative solutions.
Donations aid efforts across China, US, Canada and more
April 3, 2020
As part of ongoing efforts to support communities around the world amid the impact of COVID-19, The Starbucks Foundation, the philanthropic arm of Seattle-based Starbucks Corp., announced it is donating more than $3 million to support community response efforts globally.
Wissotzky Tea, imported and distributed by KAYCO, has announced the release of its Nana Mint tea, a light and naturally sweet cultivar of Mentha spicata, which is found only in the Mediterranean region, the company says.
Approximately 63 percent of Americans drink coffee, according to the 2019 National Coffee Data Trends. Although coffee exports are decreasing globally, coffee as a distinctive, aromatic ingredient in food and beverages is expanding. Beyond flavor and aroma, attributes like coffee’s purported anti-inflammatory polyphenols are helping to drive product innovations across multiple categories, experts note.
Lipton ready-to-drink (RTD) tea, manufactured and marketed as part of the Pepsi Lipton joint venture between Unilever and PepsiCo, released two new green tea varieties: Watermelon and White Peach.
Numi Organic Tea introduced its new plant-based packaging that features a bright, bold, ingredients-focused look, along with two new products that feature the new product, the company says.