Tea Subscription Market is Projected to Witness a CAGR of 8.6% from 2023 to 2033

Tea Subscription Market is Projected to Witness a CAGR of 8.6% from 2023 to 2033

Newly-released tea subscription market analysis report by Fact.MR reveals that global sales of the tea subscription market in 2022 were held at US$ 208 million. With 8.6% projected growth from 2023 to 2033, the market is expected to reach a valuation of US$ 531 million by the end of the forecast period.

Organic tea subscription is expected to be the significant revenue-generating type in the market and is projected to grow at a CAGR of over 8.3% from 2023 to 2033.

Tea subscription is a service offered by various tea companies and retailers that allows customers to sign up for recurring delivery of tea products. Typically, customers choose a subscription plan and receive regular shipments of various types of tea, such as loose-leaf tea, tea bags, or a combination of both. Tea subscription services often offer a range of teas to choose from, including traditional teas, herbal teas, and specialty blends.

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Customers can choose from different types of tea subscriptions, such as curated blends or single-origin teas, and can specify their preferences such as the level of caffeine, flavors, or tea types.

In 2020, global tea bag sales were valued at around US$ 7.1 billion and are projected to reach US$ 10.4 billion by 2026, growing at a CAGR of 6.2% during the forecast period. Tea bags are one of the most popular forms of tea consumption globally due to their convenience and ease of use. Tea bags are also preferred by consumers who are looking for quick and easy solutions for tea brewing, especially in the busy lifestyles of modern times. The growing consumption of tea is likely to create an opportunity for the market.

In 2017, Social Capital invested US$ 1.2 million in Teabox, an India-based tea subscription service that sources high-quality teas directly from tea growers and delivers them to customers worldwide. There are significant opportunities for innovative companies to attract investment in the tea market. Overall, the tea subscription market is driven by a combination of convenience, health benefits, personalization, sustainability, and cost-effectiveness which are likely to continue to drive its expansion in the future.

Competitive Analysis:
Key players in the market are Simple Loose Leaf, Amoda, Dollar Tea Club, Inc., Plum Deluxe Tea, Teasparrow, Sips by, The Whistling Kettle, Teaspoon Tea Co, Tea Runners Inc, Art of Tea, Almost Tea, Tomotcha, and Free Your Tea LLC.

A few of the recent developments in the Tea Subscription Market are:
In March 2021, Tea Runners Inc. announced that they were launching a new “Eco-Friendly” tea subscription box, featuring teas that are sustainably sourced and packaged in compostable materials.

In August 2021, Free Your Tea LLC announced that they were launching a new “Sommelier Service” for their tea subscription boxes, where a certified tea sommelier will curate personalized tea selections based on customers’ preferences and taste profiles.

By 2033, the United Kingdom’s tea subscription market is projected to reach a value of US$ 27.4 million, marking an absolute dollar growth of US$ 14.4 million. This market exhibited a strong CAGR of 11.2% from 2018 to 2022, and it is anticipated to maintain a healthy CAGR of 7.7% from 2023 to 2033.

The United Kingdom has witnessed a surge in the popularity of tea subscription services in recent years. In 2019, these services generated approximately US$ 2.2 million in sales. According to a survey conducted by the Tea and Herbal Association of Canada, approximately 100,000 users in the UK are subscribers to tea services. The increasing appeal of tea subscription services in the UK can be attributed to their convenience, diverse product offerings, and cost-effectiveness.

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Steady Growth in the US Tea Market: Demand for Convenience and Personalization
The US tea market is poised to reach a significant worth of US$ 160.3 million by 2033, marking an impressive absolute dollar growth of US$ 82 million from 2023 to 2033. This market has exhibited robust growth, boasting a commendable CAGR of 10.9% from 2018 to 2022, and it is anticipated to maintain a steady trajectory with a CAGR of 7.4% from 2023 to 2033.

According to insights from the Tea Association of the USA, the tea industry in the United States has enjoyed consistent growth in recent years. In 2020, total tea sales in the United States reached approximately US$ 13 billion, representing an increase from US$ 12 billion in 2019. Remarkably, over 159 million Americans, which accounts for roughly half of the US population, are tea enthusiasts.

Tea, recognized for its soothing qualities and stress-relief benefits, has become an integral part of daily routines for many. The US tea market is poised for continued expansion in the forthcoming years, driven by escalating demand for convenience and personalized tea products.

More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Tea Subscription Market, presenting historical market data (2018–2022) and forecast statistics for the period from 2023 to 2033.

The study reveals extensive growth in Tea Subscription Market by Tea Type (Organic, Vegan), by Subscription Type (Biweekly, Monthly, Quarterly, Half Yearly, Annually), by Region (North America, Latin America, Europe, Asia- Pacific, Middle East and Africa) — 2023 to 2033.

Source URL — https://www.globenewswire.com/en/news-release/2023/08/23/2730123/0/en/Tea-Subscription-Market-Surges-at-8-6-CAGR-to-Hit-US-531-Million-by-2033-States-Fact-MR.html