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Speciality tea brand, Teamonk Global, is looking to launch a slew of offerings with ayurvedic formulations to tap into the growing segment of health-conscious customers, a trend catalysed by Covid-19.
The company has launched four new premium ayurvedic tea flavours , including Triphala, Ashwagandha, Kadha and Spice green tea.
Non-black tea segments
According to Ashok Mittal, Managing Director, while consumption of black tea has remained more or less stagnant, speciality tea has been growing at around 30 per cent on a year-on-year basis.
“Globally consumption of non-conventional teas has been growing over the last one decade with more than 60 per cent of the consumption shifting towards green, herbal and other speciality teas with infusions. This trend has been further accelerated in the wake of the pandemic. Though in India people were used to tea with milk and sugar but after the pandemic it is slowly changing with a significant rise in consumption of green tea,” Mittal told BusinessLine .
The total market for speciality tea in India is estimated to be close to ₹3,500 crore and has been growing at around 30 per cent on a year-on-year basis. The growing awareness around health and wellness is driving the shift towards more healthy beverages, he said.
The company currently has over 50 variants of speciality tea including Darjeeling, Nilgiri White, and Oolong teas. Apart from the current launch of four new flavours, Teamonk is looking to roll out more offerings under the Ayurvedic range.
“Indians are very taste conscious so we are working on making the teas tasty without compromising on the health aspects. We expect our Ayurvedic range of green teas to make up 10 percent of our volume moving forward,” he said.
Increasing demand
Teamonk, which registers over 75 per cent sales through e-commerce platform, has been witnessing a growing demand for speciality teas from the Tier II and Tier III towns.
The teas are currently available on Flipkart, Amazon, Paytm, Snapdeal, LBB, Smytten, Bigbasket and Teamonk official website among others. It will also soon be made available on JioMart.
“As of now, close to 60 per cent of our orders are from metro cities but when we look at the orders recently we see a lot of demand coming in from Tier II and Tier III towns. Moving forward we expect the sales from these towns to account for nearly 50 per cent of our total sales,” he said.
Exports account for nearly 40-45 per cent of Teamonk’s total sales and some of the key markets include the US, Canada, UK, France, Germany, Spain, Italy and Netherlands. The company is planning to launch an international version of its website soon to cater to growing global demand.
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