“What’s Brewing?” is a World Tea News round-up of recent happenings, news and factoids from the global tea industry.
Here’s what’s notable:
JDE Peet’s Appoints Fabien Simon as CEO
“No one knows this business better than Fabien,” said Olivier Goudet, chairman of JDE Peet’s and CEO and managing partner of JAB. “Not only did Fabien lead the successful IPO of JDE Peet’s, he oversaw the very creation of JDE and its transformation into a global coffee & tea powerhouse."
Simon’s appointment follows the strong performance of JDE Peet’s in the first half of 2020, during which time the company demonstrated the resilience of its business and brands despite the unprecedented economic and social disruption of COVID-19.
“JDE Peet’s is a rare business with a proven track record of performance across economic, market and consumer cycles,” added Simon. “It is a privilege to lead this company into its next phase of growth, building on our unique portfolio of brands, products and channels to meet the needs of our customers and capitalize on the myriad opportunities to gain market share in coffee and tea globally. I look forward to leading this incredible business for years to come.”
Simon succeeds Casey Keller, who decided to return to the United States to be with his family, who were unable to relocate to Amsterdam due to health and safety implications related to the pandemic.
Simon, a French national who has lived in Amsterdam since 2014, has been a director of JDE Peet’s since its inception and was responsible for leading its successful listing on the Euronext Amsterdam stock exchange in May 2020.
To learn more, visit JDEPeets.com.
The Coffee Bean & Tea Leaf Brand Returns to New York
Coffee and tea enthusiasts and loyal guests of The Coffee Bean & Tea Leaf brand, one of the world's leading roasters and retailers of specialty coffee and tea, celebrated its return to the New York metropolitan area. The first of many planned openings, The Coffee Bean & Tea Leaf store opened Aug. 28, 2020, in Brooklyn's Fort Greene neighborhood at 5 Greene Ave., through its New York based franchisee, Hudson River Coffee & Tea, a venture of outstanding operators, developers and real estate experts.
"New Yorkers have something to be excited about today," said Mark Feit, director of development for Hudson River Coffee & Tea. "The Coffee Bean & Tea Leaf brand has been serving innovative and beloved beverages for nearly 60 years, and we are thrilled that now New Yorkers can enjoy them as well."
Franchise partner Hudson River Coffee & Tea will develop The Coffee Bean & Tea Leaf stores across the NY-Metro area with a second Brooklyn location scheduled to open by end of year. All stores will offer signature beverages and an incredible array of freshly prepared pastries and foods certified STAR-D Kosher Dairy by internationally recognized STAR-K Kosher certification. The Greene Avenue location was designed locally, featuring a uniquely Brooklyn vibe and boasts a private outdoor lounge and dining space where loyal guests can enjoy their The Coffee Bean & Tea Leaf experience. The Brooklyn location will open with limited contact health and safety protocols, allowing guests to order ahead through The Coffee Bean Rewards app and delivery through third party vendors, including Postmates and DoorDash.
"The Coffee Bean & Tea Leaf brand continues to maintain a steady growth rate, even with the impact of current events," said Peter Vavra, director of franchise operations for The Coffee Bean & Tea Leaf. "New York City is a competitive and highly desirable market for any coffee retailer and our opening today in New York underscores our commitment to bringing our beloved beverages to more guests and demonstrates our strength as a leading roaster and retailer of coffee and tea."
The return to New York and subsequent new store openings represents a key growth initiative for The Coffee Bean & Tea Leaf brand's parent company, Jollibee Foods Corporation (JFC), which aims to be one of the top five restaurant brands in the world. To date, the beloved Los Angeles-based chain has 225 stores in the United States and more than 1,094 locations across 30 countries worldwide. New York marks the 11th state to welcome The Coffee Bean & Tea Leaf.
For more information, please visit CoffeeBean.com.
KÖE Organic Kombucha Breaks Into New Channels, Demand for Immunity Support Soars
KÖE Kombucha – the fruit-forward, organic kombucha in a convenient can – announced the expansion of their brand through new distributor relationships and retail placements across the United States. “As consumers seek ways to bolster their immune systems and overall health,” the company said in a statement, “KÖE has doubled their distribution footprint in 2020 by earning new shelf space in leading grocery, drug and convenience store chains, including Natural Grocers, Publix, Stop and Shop, select CVS locations, select Speedway stores, and 7-Eleven's 1300 Greater LA and San Diego locations beginning in September 2020.”
Louisa Lawless, chief strategy officer at Stratus Group, which includes the KÖE Kombucha brand, said "During a time when all consumers have health on their minds, KÖE falls within the perfect intersection of function, value, craveable flavor, and availability.”
Global kombucha sales are expected to increase 15 percent year-over-year, with 47 percent of that growth coming from North America, according to a recent report by Technavio, which also sites "health benefits" as the primary driver for the adoption of kombucha. According to Google Trends, searches for "immunity" have skyrocketed 300+ percent in the past six months. The probiotic power of kombucha is widely known to help boost immunity, aid in digestion, increase energy, fight joint inflammation, and detoxify, as stated by the Journal of Food Microbiology.
KÖE's live probiotics, relatively low sugar and calorie content, USDA Organic ingredients, accessible flavor profiles, and omnichannel distribution, perfectly position the brand to attract an incremental audience who may have not considered kombucha in the past.
KÖE is on track to earn placements in 40,000 retail locations by Q1 2021. Across the United States, KÖE is building out a national distributor network with key partners like Classic, John Lenore, AB Hensley, Savannah, United Johnson Brothers, and a strong roster of regional distributors and AB houses. In the convenience channel, the brand's growth also includes Spinx, Mapco, and Twice Daily stores. KÖE has also increased availability online via Amazon.com and through new Instacart promotions.
Available in five flavors – Mango, Lemon Lime, Strawberry Lemonade, Raspberry Dragonfruit, and Blueberry Ginger – KÖE is the only fruit-forward, shelf-stable kombucha packed with probiotics. Without the vinegary taste traditionally unavoidable in kombucha, KÖE contains just 8g of sugar and 35 calories per 12 ounce can. All flavors are USDA Organic, Non-GMO Project Verified, and full of sparkling fruit flavor.
For more information, visit DrinkKOE.com.
Herbal Nutraceuticals Market to Reach $48.44 Billion Globally by 2027
Allied Market Research published a new report on the herbal Nutraceuticals market, covering a global opportunity analysis and industry forecast for 2021–2027. According to the report, the global herbal nutraceuticals industry garnered US$28.32 billion in 2019, and is estimated to reach US$48.44 billion by 2027, registering a CAGR of 7.55 percent from 2021 to 2027.
Surge in health consciousness among the consumers and rise in number of people suffering from chronic diseases across the globe drive the growth global herbal nutraceuticals market, according to Allied Market Research. However, high cost associated with organic herbal nutraceuticals restrains the market growth. Furthermore, increase in consumer awareness regarding organic products is expected to create new opportunities during the forecast period.
A sample report may be requested here. For additional information, visit AlliedMarketResearch.com.
Global Black Tea Extracts Market – Growth, Trends, and Forecast
The Black Tea Extracts Market - Growth, Trends, and Forecast (2020 - 2025) report has been added to ResearchAndMarkets.com's offering. The global black tea extracts market is projected to grow at a CAGR of 4.5 percent during the forecast period of 2019 to 2024).
Black tea extract is rich in of vitamin C, zinc, iron, magnesium, copper, manganese, potassium, fluoride, and calcium, according to Research And Markers. Black tea extract have more anti-oxidants as compared to green tea, and are anti-allergic, anti-viral and anti-spasmodic.
Increasing demand for herbal medicines demand has positively influenced the black tea extract market size, noted the research firm. Functional food with herbal ingredients are witnessing a significant consumption growth over the forecast period
For more information about this report, click here or visit ResearchAndMarkets.com.
- Aaron Kiel, World Tea News