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The United Kingdom stands out as a nation where tea is a staple, with a significant portion of the population across all income brackets consuming a cuppa daily.
In May, it was revealed that 98% of UK residents drink tea daily. More than 100 million cups of tea are drunk every day in the UK,which estimates consumption at 36 billion cups per year.84% pick the option of a tea bag to make their black tea, with 16% opting for loose leaf.
The 2024 Tea Census show that the age cohort most likely to prefer loose-leaf black tea was the 30-44-year-olds (27%), compared with 16% of 18-29-year-olds, 12% of 45-59-year-olds, and only one in 10 (10%) of those aged 60+.
Young tea drinkers appreciatethe fantastic benefits for avoiding cardiovascular disease, improving muscle strength, and the anti-stress properties of polyphenols.Targeting youth may be the most important thing for the industry.
The UK market is valued at £1.7 billion ($2.2 billion). The global market is expanding and will be worth an estimated $134.4 billion by 2025 and tea production is nearing 6.7 million tons.UK consumption at 72 million kilos annually, excluding herbal infusions, ready-to-drink, and instant tea.
The UK is also a significant processor and exporter. The top three exporters, China, Kenya, and Sri Lanka, each reported more than $1 billion in trade value.
Source: STiR Coffee & Tea (Extracts), Courtesy: Tea Exporters’ Association Sri Lanka
Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down Read More...