Summary Targeting Tea Market Growth in Western Europe - STiR Coffee and Tea Magazine | Global Business Insight on Coffee and Tea stir-tea-coffee.com
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Brexit uncertainties and potential recession concerns are expected to limit the growth of the tea market in Western Europe to only 1%.
Slides
Slide Presentation (12 slides)
Key Points
- Forecasts of overall demand for tea in Western Europe are lower than previous years, with estimates now under 3% growth.
- The uncertainties and disruptions of Brexit have contributed to the lowering of expectations for tea market growth in Western Europe.
- The tea market in Western Europe is diverse, with varying levels of tea consumption across different countries.
- Despite a drop in volume, there has been an increase in value in the tea market, indicating a shift towards premium teas.
- People are drinking less commodity black tea and more premium teas in Western Europe.
Summaries
20 word summary
Tea market growth in Western Europe is projected to be only 1% due to Brexit uncertainties and potential recession concerns.
77 word summary
Tea market growth forecasts in Western Europe have been reduced to as low as 1% due to Brexit uncertainties and potential recession concerns. The market is characterized by contrasts, with Ireland and the UK being high tea consumers while the Netherlands and Germany consume less. Despite a drop in volume, there is an increase in value, indicating a shift towards premium teas. Growth opportunities lie in catering to demand for high-quality teas and focusing on product innovation.
115 word summary
Forecasts for tea market growth in Western Europe have significantly decreased, with estimates now as low as 1%. Brexit uncertainties and potential recession concerns are largely responsible for the lowered expectations. The tea market in Western Europe is difficult to define, but it is characterized by stark contrasts. Ireland and the UK are among the highest tea consuming nations, while countries like the Netherlands and Germany consume significantly less. The tea market in Western Europe has seen a 2-3% drop in volume but a 3-5% increase in value, indicating a shift towards premium teas. Despite challenges, there is still opportunity for growth by catering to the demand for high-quality teas and focusing on product innovation.
286 word summary
Forecasts for tea market growth in Western Europe have significantly decreased in recent years, with estimates now under 3% and as low as 1%. This is a stark contrast to the Asia-Pacific region, where growth is expected to be 7% per year for the next decade. The uncertainties and disruptions caused by Brexit are largely responsible for the lowered expectations. Concerns about recession have also arisen due to US trade war threats and slowing exports. The German government, for example, has halved its estimate for economic growth from 1% to 0.5%.
The tea market in Western Europe is difficult to define, with varying classifications ranging from seven to 23 countries. However, it is characterized by stark contrasts. Ireland and the UK are among the highest tea consuming nations, while countries like the Netherlands and Germany consume significantly less. On average, the tea market in Western Europe has seen a 2-3% drop in volume but a 3-5% increase in value. This suggests that consumers are moving away from commodity black tea and towards premium teas of all types. This trend has been consistent over the past decade.
In order to target consumers and drive product innovation, it is important to focus on this shift towards premium teas. Despite the overall decrease in volume, the increase in value indicates that there is still demand for high-quality teas. This trend is likely to continue in the future.
Overall, the tea market in Western Europe is facing challenges due to Brexit uncertainties and potential recession concerns. However, there is still opportunity for growth by catering to the demand for premium teas. By understanding consumer preferences and focusing on product innovation, companies can position themselves for success in this evolving market.