New Market Research Report: Tea in Singapore

From: Fast Market Research, Inc.
Published: Fri Mar 25 2016

Fruit/herbal tea recorded the fastest retail volume growth of 4% in 2015. This was attributable to the rise of speciality tea establishments, such as TWG, which helped create interest in fruit/herbal tea. Meanwhile, in retail channels, tea players such as Unilever Singapore Pte, Twining & Co and Teekanne were eager to promote their higher-priced fruit tea and herbal infusion products as a way to improve their bottom lines. With increased shelf space, consumers became more aware of fruit/herbal tea products, such as chamomile tea, peppermint tea and ginger tea. In addition, consumers were attracted by the health benefits of fruit/herbal tea, such as to uplift mood, to aid digestion and to calm the nerves, amongst others.

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Competitive Landscape

Unilever Singapore Pte continued to lead tea in 2015, recording a 34% value share. This was attributable to the strong brand equity of Lipton. Besides being marketed aggressively, Lipton products consistently dominated shelf space in major supermarkets and hypermarkets. They were also distributed extensively through traditional grocery retail outlets, further enhancing Liptonís brand awareness among the mass of consumers from all walks of life. In addition, the company remained committed to product development. For example, Lipton Milk Tea Latte was launched in mid-2015. Such a product line extension helped maintain interest in the Lipton brand, keeping it at the top of consumersí minds.

Industry Prospects

Fruit/herbal tea is expected to enjoy strong growth at a CAGR of 4% at constant 2015 prices over the forecast period. While this represents healthy growth, it is a slight slowdown compared to the review period. This is because the emerging trend of fruit/herbal tea in RTD format is likely to limit growth of fruit/herbal tea in a tea bag format. With similar antioxidant contents and health benefits, RTD tea is likely to be preferred as it offers greater convenience.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Tea industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Tea industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The Tea in Singapore market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth

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