The tea capsule market consists of sales of tea capsules and related services. Tea capsules are encapsulated tea leaves that contain ingredients similar to an ordinary cup of tea. Tea capsules offer convenience and comfort when making tea at home, in public places, or even when traveling.
The global tea capsule market is expected to grow from $1.04 billion in 2019 to $1.06 billion in 2020 at a compound annual growth rate (CAGR) of 1.5%. The slow growth is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The market is then expected to grow and reach $1.42 billion in 2023 at CAGR of 10.24%.