PROSPECTS AND OPPORTUNITIES
Premiumisation will drive growth in tea, with focus on affordable luxury segment
The market for tea in Singapore is experiencing a shift towards premiumisation as consumers increasingly seek artisanal flavours and unique tea experiences. These premium blends, priced higher than mass-market options, but still accessible to middle-income consumers, cater to those who desire small indulgences and are willing to invest a bit more for quality and luxury in their daily lives.
Tea will be increasingly viewed as meaningful gifting option
Consumers in Singapore are increasingly leaning towards more thoughtful, experiential gifting options, rather than typical material foods. Tea is seen as being compatible with this trend, due to its association with wellness and relaxation.
Polarisation in tea market: premium versus value-driven options
With global economic conditions remaining uncertain, the tea market in Singapore is likely to experience increasing polarisation between premium brands and more affordable, mass-market options. Consumers with relatively high disposable incomes may continue to seek out high-quality, premium teas for a luxury experience, while those facing economic pressures may shift their spending towards budget-friendly alternatives, prioritising value-for-money over quality or buying in bulk.
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Overview:
Understand the latest market trends and future growth opportunities for the Tea industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Tea industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Tea in Singapore report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Tea in Singapore?
- To what extent are health considerations impacting consumption of Tea in Singapore?
- What are the traditional preferences in Tea in Singapore? To what extent are these tastes changing amidst increasing international influence and the growth of chained cafés?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Tea in Singapore?
- Which are the leading brands in Tea in Singapore?
- How are products distributed in Tea in Singapore?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Tea?
- Where is future growth expected to be most dynamic?
Tea in Singapore - Category analysis
KEY DATA FINDINGS
Potential for on-trade volume sales and retail value growth of tea as retail volume stagnates in 2024.
Black tea remains dominant, but green and fruit/herbal teas gain momentum, alongside health and wellness trend
Leader Lipton faces growing competition from higher-end tea brands and RTD tea
Premiumisation will drive growth in tea, with focus on affordable luxury segment
Tea will be increasingly viewed as meaningful gifting option
Polarisation in tea market: premium versus value-driven options
Hot Drinks in Singapore - Industry Overview
Hot drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
Foodservice vs retail split
What next for hot drinks?
DISCLAIMER
The following categories and subcategories are included:
Tea
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- Loose Black Tea
- Tea Bags Black
- Fruit/Herbal Tea
- Green Tea
- Instant Tea
- Other Tea
Tea
This is the aggregation of Black Tea, Fruit/Herbal Tea, Green Tea, Instant Tea, and Other Tea.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Tea research and analysis database.
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