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2% to 5% hard teas expected to drive hard tea market growth, says Study
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Saturday, 24 September, 2022, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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The global hard tea market garnered a market value of US$1.6 billion in 2021 and is expected to accumulate a market value of US$2 billion in 2022. The hard tea market is expected to surpass a market value of US$19 billion by registering a CAGR of 25.25% in the forecast period 2022-2032. The growing inclination towards hard teas is owing to the lesser alcohol content, fruitful flavours and strong aroma.
Manufacturers of hard teas are experimenting with a variety of flavours and combining the same with vodka, beer and wine. Hard tea companies are understanding and analysing the taste buds of consumers and offering different hard tea flavours that suit a wider range of audience.
The health benefits of consuming hard tea such as reducing the risk of heart diseases, stroke and diabetes are positively influencing the sales of hard teas. Moreover, manufacturers of hard teas are focusing on offering region-specific hard teas that will suit the taste buds of consumers. All these factors are expected to bolster the demand for hard teas in the upcoming years.
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