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The Asia Pacific region is expected to significantly contribute to the alcoholic tea industry growth over the forecast period owing to the rising disposable incomes in the emerging nations and the growing western influence. The growing acceptance of alcoholic beverages in countries like India and China are aiding the industry growth. Based on base, the mint segment is expected to significantly contribute to the market expansion owing to the growing consumer demand for refreshing and minty flavours. The alcoholic tea with gin, vodka, or rum is particularly becoming popular among the millennials, which is driving the regional industry growth.
Meanwhile, the growing investments by the major players to enhance their global reach and create brand awareness are further aiding the market growth. For instance, In April 2020, Scottish tea brand, Eteaket, launched a mindfulness challenge on social media, encouraging the customers to pause, re-balance, and create a calming space in a 3-minute tea routine. This is aimed at engaging tea fans to head online and tag Eteaket on social media, thus, creating brand awareness among consumers.
Expansion of the distribution channels in countries with high growth potential for tea as on-the-go beverage are expected to further propel the industry growth. Easy availability of a wide range of flavours from alcoholic tea manufacturers like Noveltea through retail channels like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) will positively impact the industry growth. Also, the online platforms provide various coupons and discount offers to the consumers, which is anticipated to enhance the online sales of alcoholic tea, thus, creating enhanced growth opportunities for the market expansion.
Market Breakup by Flavour, Base, End Use, and Region:
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The major players in the global alcoholic tea market include Red Diamond, Inc., Tea Venture Limited, MB-Holding GmbH & Co. KG, and Noveltea, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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