Progressive Grocer and IRI reveal tea fastest growing and high volume moving beverage
Progressive Grocer and IRI recently released their 73rd Annual Consumer Expenditures Report, revealing tea as one of the fastest growing and highest volume-moving beverages in grocery retail.
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Some of the highlights include:
Grocery tea sales increased by 19.5%, with store brand teas as an important driver
Recent trends in private label that support tea growth:
Store brand teas have also upped their game, focusing more on:
Considering that approximately 75% of the items in a grocery store carries are "slow-moving," these boosts in tea sales cannot be ignored.
New areas of tea production are increasing their yields while more familiar tea provinces experience flatter growth or declines
The US tea market has plenty of room for further growth, but won't be more of the same