Tea being widely consumed beverage worldwide, the demand for milk tea powder will likely tread a steady growth trajectory in the near future, finds a recent report by Transparency Market Research. The report, titled, “Milk Tea Powder Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025,” observes that low entry barriers have led to many new players entering the market. This has led to a proliferation of products, which alongside a burgeoning beverage industry and demand for various kinds of tea has generated substantial demand for milk tea powder. Apart from that, increasing urbanization and growing per capita income has also boosted the market.
However, with scientists advising against adding milk in tea because of its ability to lessen the antioxidant property of the latter, the demand for milk tea powder could take a blow. Besides, milk tea powder is also said to contain oxidized cholesterol which is even more harmful for health. Despite such drawbacks, the market for milk tea powder will progress with collaborations among the key players and their focus on attractive packaging.
Having thrown light on the various growth drivers and restraints in the market for milk tea powder, the report goes on to segment it based on various parameters. Depending upon type, for instance, it splits the market broadly into wet mixed milk tea and dry mixed milk tea. Between the two, the segment of wet mixed milk tea contributes most of the market share. The segment of dry mixed milk tea, on the other hand, is predicted to see faster growth rate.
The two main distribution channels leveraged by players in the milk tea powder market are retail and distribution. Of the two, the wholesale distribution channel is responsible for generating most of the sales and thus contributes the most to the revenue. The retail segment, on the other hand, is expected to clock greater growth rate in the next couple of years. The retail channel can be further divided into online and in-store. Between the two again, the online segment is resulting in swifter sales because of the surging popularity of smartphones, strengthening internet connectivity, and mushrooming ecommerce platforms.
The report also segments the global market for milk tea powder on the basis of geography into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa, and studies each segment in details. It observes that Asia Pacific grosses substantial revenue because of the well-entrenched habit of having milk tea among people residing in the region. North America is another key market and so is Europe.
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Some of the major players operating in the global market for milk tea powder profiled in the report are Nestlé S.A., Thomas J. Lipton Company, Mitsui & Co., Ltd., Shih Chen Foods Co., Ltd., Oldtown Bhd (OLDT.KL), Traditional Medicinals, Inc., Zhejiang Bossen Ingredients Co., Hong Kong Oriental Tea Co., Ltd., Ltd., Gino’s Brewing Company, Uni-President Enterprises Corporation, and Fanale Drinks Hayward CA.