“What’s Brewing?” is a World Tea News round-up of recent happenings, news and factoids from the global tea industry.
Here’s what’s notable:
Minna Cherry Cacao Green Tea Is Among the Winners of the 2020 Natural Products Expo Spark Change NEXTY Awards
New Hope Network announced the winners of the 2020 Natural Products Expo Spark Change NEXTY Awards, the leading awards program which recognizes outstanding products in the natural products industry that inspire a healthy and sustainable future for people and the planet. The winners were announced during the organization’s virtual Modern Health event, which is the third event in the Spark Change journey, concluding in November.
Among the winners was a tea company/product in the “Best New Tea or Coffee” category. The award went to Minna Cherry Cacao Green Tea.
The NEXTY Awards are a twice-annual awards program connected to New Hope Network’s Natural Products Expos and digital events. They were created to recognize the pinnacle of excellence in the natural products industry, elevating impactful CPG brands and products.
In the Flagship NEXTY Awards program, winners are determined through a two-tier judging process involving New Hope Network content experts and invited industry judges. During the first phase, more than 725 entries were whittled down to 72 finalists in 23 categories. In the final judging round, a single winner was selected in each category through intense deliberation.
For a complete list of the winners, see nextyawards.com.
Urban Tea Plans to Open Another New Store in New York City
Urban Tea Inc., a premier retailer of specialty teas and baked goods headquartered in Hunan, China, announced that it has begun planning for the opening of a new store in New York City. The company currently has two stores in NYC: Meno, a store offering tea-based beverages and light snacks, and Crop Circle, a store offering its featured “guokui,” a popular street snack originating from northern China’s Shaanxi province, as well as other popular Chinese street food. The third store will combine the offerings of both popular street food and tea-based beverages in NYC. It is currently in the planning phase and working on product development and selecting an address for the new store.
Long Yi, CEO for Urban Tea, Inc., commented that, “With the gradual stabilization of existing store operations, the company’s management sees the future prospects of our product positioning and business philosophy in the New York catering industry. As a result, we plan to accelerate our expansion in New York, and are currently selecting a location for our new store. I am very happy that our food and beverage options are liked by our customers in New York. In the future, we plan on strengthening our product research and development capabilities and strive to meet more consumer needs. In the future, the Company plans on integrating the product lines of various brands and making it even easier for consumers to purchase different types of foods and beverages in one store.”
To learn more, visit h-n-myt.com.
Green Tea Leaves in North America Market to Garner $1.51 Billion by 2027
Increase in awareness regarding the health benefits of green tea and the expansion of the retail sector is driving the growth of the North America green tea leaves market, according to Allied Market Research. The U.S. accounted for the largest market share in 2019, noted the research firm, and it will maintain its dominance by 2027. Despite increase in demand for green tea leaves to stay healthy and boost immunity, disruption in supply chain and impact on harvesting activities created a supply-demand gap.
According to a new report by the company, the North America green tea leaves industry generated $1.19 billion in 2019, and is estimated to garner $1.51 billion by 2027, witnessing a CAGR of 6.8 percent from 2020 to 2027.The report offers an extensive analysis of changing market dynamics, market estimations, top investment pockets, key segments, Porter’s Five Forces and competitive scenario.
To download a sample copy of the report, click here. For additional details, visit AlliedMarketResearch.com.
– Aaron Kiel, World Tea News