31 Jan 2020
Posted in Consumer
Unilever considers selling tea line as UK hot tea market set to decline to 7.8 billion liters in 2019 at a CAGR of -0.6%, says GlobalData
Following on from the recent news (30th Jan 2020) of Unilever looking to sell their PG Tips and Lipton brands;
Arian Bassari, Consumer Analyst at GlobalData, a leading data analytics company, offers his view on these developments;
“Unilever selling its PG Tips brand would not be a surprise given that UK hot tea sales are on a downward trend, seeing negative growth between 2016 and 2019. This will result in a lower volume consumption of 7.8 billion liters – despite the UK’s historic (and sometimes obsessive) tea-drinking habits.
“Younger consumers, who find themselves constantly on-the-go and time-scarce are choosing coffee as a much needed energy boost to fuel their hectic lifestyles. While tea will remain much loved in the country, coffee just hits a spot for younger consumers that a cuppa doesn’t.
“The UK coffee scene offers a number of caffeinated creations, with clear opportunities for Unilever to cash in on, ranging from nitro-infused brews and cold brews, to decorative lattes and seasonal drinks. Brits are adopting a fast-paced lifestyle, often paired with habitual coffee-drinking.”