Tea - Hong Kong

  • Hong Kong
  • Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Tea market amounts to €196.9m in 2024.
  • Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to €0.4bn in 2024.
  • Revenue, combined amounts to €0.6bn in 2024.
  • The revenue, at home is expected to grow annually by 1.59% (CAGR 2024-2028).
  • In global comparison, most revenue, at home is generated in China (€48,690m in 2024).
  • In relation to total population figures, the average revenue per capita, at home of €26.26 are generated in 2024.
  • In the Tea market, volume, at home is expected to amount to 8.0m kg by 2024.
  • Volume, out-of-home is expected to amount to 0.9m kg in 2024.
  • Volume, combined is expected to amount to 8.9m kg in 2024.
  • The Tea market is expected to show a volume growth, at home of -2.0% in 2025.
  • The average volume per person, at home in the Tea market is expected to amount to 1.06kg in 2024.

Key regions: United Kingdom, Philippines, Singapore, Worldwide, Thailand

 
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Analyst Opinion

Tea has long been associated with various health benefits, and this connection continues to drive consumer preferences. Health-conscious individuals are turning to tea as a healthier alternative to sugary beverages, thanks to its antioxidant properties, potential weight management benefits, and calming effects. It is especially important in Asia and Eastern Europe as well as in the UK. In these regions, it serves the purpose of both caffeination and hydration.

Trends include sustainability and ethical sourcing, innovation in tea formats and blends, and the rise of premium tea experiences. With an expanding consumer base and evolving preferences, the tea market is expected to continue its growth trajectory in the coming years.

Methodology

Data coverage:
The data encompasses B2C enterprises. Figures are based on private Household spendings on Hot Drinks. At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments.
In the out-of-home market, the price always refers to the price per kilogram of the beverage consumed, regardless of other components in the finished beverage.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as production data, region, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Hot Drinks market with a projected steady growth.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.

Visión general

  • Revenue
  • Key Players
  • Volume
  • Price
  • Demographics
  • Sales Channels
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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