Benin: Tea Market and the Impact of COVID-19 on It in the Medium Term
The tea market in Benin was equal to 31.30 million USD (calculated in retail prices) in 2015. Until 2025, the tea market in Benin is forecast to reach 50.92 million USD (in retail prices), thus increasing at a CAGR of 5.64% per annum for the period 2020-2025. This is an increase, compared to the growth of about 4.06% per year, registered in 2015-2019.
The average consumption per capita in value terms reached 3.04 USD per capita (in retail prices) in 2015. In the next five years, it grew at a CAGR of 1.21% per annum. In the medium term (by 2025), the indicator is forecast to speed up its growth and increase at a CAGR of 2.85% per annum.
The tea market has evolved dramatically in the past few years in line with consumers’ changing behavior. Today, tea drinkers are more interested in high-quality products with a great story and drinks that give them specific health benefits, which has driven demand for healthy green, functional botanical tea and herbal blends. In addition, the perception of tea has also changed, as it is viewed by most younger consumers as a sensual and wellness drink.
Premiumization is another positive development on the market, as customers are showing strong preferences for functional botanical blends and single estate artisanal teas. More and more people are interested in innovative flavor combinations, as well as in authenticity and the story behind certain brand. When it comes to different types, a recent trend suggests that natural, earthy alternative flavors such as ginger, matcha, turmeric and cumin are in higher demand. Cheese tea is another food service phenomenon, which has been especially popular in Asian countries such as Malaysia, Taiwan, and China.
Another interesting trend on the tea market is the emergence of tea pairing menus. Since customers are increasingly opting for unique and experience led products, different restaurants have been trying to enhance culinary experience by introducing a several course tea pairing menu. In addition, the tea market has been expanding outside the category of hot beverages with the development of new ready-to-go drinks and iced tea variants. Kombucha, for example, has shown an impressive growth over the past few years from a niche product to a well-established product in mainstream supermarkets.
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This report presents a strategic analysis of the Beninese tea market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it. It provides a comprehensive overview of the market volume and value, dynamics, segmentation, characteristics, main players, prices, international trade, trends and insights, growth and demand drivers, challenges, etc. This is one of the most comprehensive reports about the Beninese tea market, offering unmatched value, accuracy and expert insights.
The purpose of the report is to describe the state of the Beninese tea market and to present real and expert-verified information about the volumes, values, dynamics, segmentation and characteristics of consumption, prices, imports, and exports. The report also presents a forecast for the market development in the short and medium term and the impact COVID-19 has and will have on it. In addition, the report presents an elaborate analysis of the main market participants, industry trends and insights, growth and demand drivers and challenges and all other factors, influencing the market development.
Questions This Report Answers
The report on the Beninese tea market covers:
• Market volume, value and dynamics for the last five years;
• Analysis of the factors, influencing the market development (market trends and insights, drivers and challenges) and the impact COVID-19 has and will have on the market in both the short and the medium term;
• Value chain analysis and structure of price formation;
• Analysis of retail price levels and their dynamics for the last five years;
• Analysis of the major international trade flows;
• Volume, value, dynamics, and analysis of imports for the last five years;
• Volume, value, dynamics, and analysis of exports for the last five years;
• Volume and dynamics of the average import and export prices for the last five years;
• Volume, value, dynamics, and analysis of per capita consumption for the last five years;
• Forecast for market development in the medium term;
• Characteristics of the main players on the market;
• Analysis of the competitive landscape;
• Importance of the HoReCa channel (on-trade vs. off-trade consumption);
• Market shares of the main market players;
• Distribution channels for retail sales;
• Five Forces analysis;
• Analysis and forecast for the global economy and demographics.
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• Track and identify key market trends and insights and key drivers behind recent market changes and see the impact COVID-19 has and will have on the market in both the short and the medium term;
• Strategically assess growth potential, opportunities, demand drivers and challenges on the market;
• Strategically assess the importance of the HoReCa channel on the market;
• Discover the importance of each distribution channel for the retail market;
• Build and execute upon a strong strategy based on verified market data and expert insights;
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This report presents data, which is:
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Who Is This Report for?
This report is for people who already are actively working on this market, representatives of producers, distributors, importers, exporters, wholesalers, retailers, suppliers:
• Industry C Level executives;
• Industry strategists;
• Marketing professionals;
• Business development professionals;
• Product developers;
• Product marketers and strategists;
• Product managers;
• Project managers;
This report is also for people, not directly or actively involved in the market, representatives of investors, consultants, advisors and financial institutions:
• Management consultants;
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This research report has been prepared using the proven WMStrategy’s methodology, including a blend of qualitative and quantitative data. The information comes from official sources and insights from market experts (representatives of the main market participants), gathered by semi-structured interviews. For this particular report, more than 10 market expert interviews have been conducted with experts from the leading market companies (producers, distributors, retailers, suppliers, etc.). The full list of interviewed experts and a detailed methodology are available upon request.
This report covers the following product groups:
• Tea (including black tea, green tea, tea bags and loose leaf tea; excluding herbal tea, ice tea, instant tea, ready-to-drink tea (RTD tea).
This is the most valuable, detailed (COVID-19 updated) and comprehensive report about the Beninese tea market currently available! We also offer similar reports, covering every global country and region separately and offer special terms for bundle purchases. So, if you are interested in the Beninese tea market, this research report will provide you with reliable, expert-verified and real market data you can safely and confidently base your decisions on. In a quick and hassle-free way, it will provide you with a strategic analysis of the market, its recent and future development. In addition, this solution will save you time and money while presenting you all the necessary information, empowering you to make informed commercial decisions and move your business forward!
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