TRENDS
Consumers purchased more tea products in 2014 due to company marketing efforts, such as price discounting. In addition, consumers increasingly drank tea due to its health benefits, such as containing antioxidants, obesity management and polyphenols, which help to reduce the risk of developing cardiovascular disease.
COMPETITIVE LANDSCAPE
Boh Plantations continued to lead in 2014, recording a 35% value share. The company has been long established in Malaysia with its well-known brand Boh. Many consumers preferred Boh due to its quality taste, with different varieties and packaging sizes available. In addition, its wide distribution network boosted the company’s sales.
PROSPECTS
Tea will be increasingly in demand by consumers over the forecast period, which is due to its health benefits and other healthy ingredients that may be added, such as minerals and vitamins. Hence, consumers may be willing to try out new varieties of tea products.