Tea is the new coffee
Tea market in the U.S. is rapidly growing and expected to surpass coffee by 2017. With the growth of 32 percent since 2007, in 2012 the U.S. tea sales reached $15.7 billion. As more and more Americans are seeking healthier alternatives to coffee and sodas, tea market is expected to reach $18 billion within the next two years.
Starbucks has jumped on the trend by revamping and expanding its Tazo teas and opening specialty tea shops. But the definitive confirmation of Starbucks’ commitment to teas came with their purchase of the U.S. loose leaf tea chain Teavana for $620 million. Starbucks CEO Howard Schultz has made it clear the company has recognized tea market as the greatest opportunity for growth.