The UK’s import of tea and mate extracts, essences, and concentrates is projected to increase steadily from $34.002 million in 2024 to $38.63 million in 2028. This shows a positive growth trend post-2023, where the import value stood at $32.845 million. Year-on-year growth from 2024 to 2028 ranges between 3.5% and 3.8%, indicating consistent demand and market expansion. The Compound Annual Growth Rate (CAGR) over these five forecasted years is approximately 3.73%.
Future trends to watch for include:
- Shifts in consumer preferences towards natural and organic products which could affect imports.
- Potential impacts of trade policies and tariffs that could influence costs and pricing.
- Growing interest in health products may further boost demand for tea and mate extracts.
- Technological advancements in production processes and supply chain efficiencies that could affect market dynamics.
