Teacup Market Size Share to Showcase Steady Expansion; Rising Popularity of Tea Cafe across the World to Boost the Market by 2028

(The Express Wire via Comtex)

The global teacup market size is projected to experience dynamic growth in the forthcoming years owing to the increasing consumer inclination towards consumption of hot beverages, finds Fortune Business Insights™ in its report, titled “Teacup Market, 2021-2028”.

The teacup is widely used for the consumption of hot beverages which include tea, coffee, hot chocolate, and others. There has been an increasing consumer inclination towards the consumption of hot beverages in order to reduce the work-related stress and to stay alert while working in the office. This is a major factor responsible for the growth of this market. Further, the rising number of cafes and restaurants around the world and the growing number of people consuming tea on a daily basis has had a positive impact on the growth of this market. For instance, as per the report published by the Indian Tea Association in 2018, approximately 1,084 million kg tea was consumed by the Indian population.

However, the availability of low quality teacups made up of plastic are projected to hinder the growth of this market.

COVID-19 Impact:

The outbreak of the COVID-19 pandemic worldwide has resulted in the closure of most of the cafes and restaurants around the world. This has hugely impacted the teacup market as teacups are widely used in hotels, cafes, corporate offices, and other places. As a result, the demand for teacups has decreased during this pandemic, posing challenges for the manufacturers in this market.

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https://www.fortunebusinessinsights.com/teacup-market-104277

Market Segmentation:

On the basis of product type, this market is classified into glass, clay, plastic, and others. By type, the market is divided into disposable and non-disposable. Based on application, the market is categorized into residential and commercial. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.

Highlights/Summary:

The report provides a bird’s eye-view analysis of the industry trends and outlook, as well as supplies a meticulous study of all market segments. In addition, the report contains an in-depth assessment of the market drivers and challenges and also offers an exhaustive evaluation of the regional dynamics and competitive landscape of the market.

Drivers/Restraints:

Rising Popularity of Tea across the World to Fuel the Market

A majority of the world population consumes tea on a daily basis as the tea is the most popular and widely consumed beverage. There are several health benefits of tea consumption such as it boosts the immune system, reduces the risk of cancer and heart disease, and improves the blood circulation in the body. Thus, these are the crucial factors responsible for the growth of this market. For instance, as per the study conducted by the USA Today article, the people who consumed tea regularly had a 56 percent lower risk of fatal heart disease.

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Regional Insights:

Growing Tea Consumption to Boost the Asia Pacific Market Growth

Asia Pacific region is projected to dominate in the teacup market share on account of the increasing consumption of tea in the countries such as India, China, Japan, and others. Further, the tea is the most popular beverage that is offered by the people to the guests visiting their homes, which is projected to fuel this market’s growth in this region.

North America region is anticipated to grow at a decent pace in this market due to the increasing awareness about the tea, which helps to prevent numerous diseases such as cancer, heart attack, and others. Further, the growing number of teacup manufacturers in this region is expected to favor this market’s growth.

Competitive Landscape:

Increasing Manufacturing of Customizable Teacups by Key Players to Animate Competition

The leading companies in the teacup market are focusing on manufacturing of the teacups with different designs, shapes, and sizes so as to attract a large number of consumers with different age groups and gender. This has resulted in the increasing competition among key companies which will enable them to diversify their business portfolio and widen their business horizons in this market.

Industry Development:

February 2020: Tea live declared the introduction of the Malaysia’s first straw-less reusable bubble tea cup. This will assist to reduce the use of single-use plastics.

List of Key Players Covered in the Teacup Market Report:

  • ExclusiveLane
  • LaOpala
  • Borosil
  • Femora
  • VarEesha
  • Clay Craft
  • Bender Limited

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Teacup Market Size Share to Showcase Steady Expansion; Rising Popularity of Tea Cafe across the World to Boost the Market by 2028

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