The ready to drink (RTD) tea and coffee market in India is expected to touch Rs 2,200 crore in next four years, according to estimates arrived at the World Tea and Coffee Expo 2013. The growth will be driven by the popularity of different varieties such as herbal and ice tea and awareness about their health benefits. Inaugurating the event in Mumbai on Friday, Suresh Kotak, Chairman, Kotak Commodities, said thriving independent upscale cafe culture will ensure huge growth in domestic RTD tea and coffee sectors aided by the health benefits of this drinks. The success of coffee chains in the country has spurred many tea makers to launch similar cafes selling a variety of teas. Girnar, one of the leading tea brands, has developed a network of 51 shops across Mumbai and neighbouring cities. Launched in 1988 with one retail outlet, the Girnar group is in the process of expanding its retail reach throughout the country.
In India, the branded tea segment is valued at Rs 6,000 crore. With growing affluence of Indian consumers, a few segments such as premium and organic coffee and green-herbal tea have created early inroads into the market. According to an Assocham study, India is world’s largest consumer, second largest producer and fourth largest exporter of tea and accounts for nearly 30 per cent of global output.
-Hindu Business Line
- Inbisco to start manufacturing at Sanand facility in 2014
- Adtran opens technology centre in Hyderabad