World Tea Expo Offers a Cure for Economic Flu
(from a press release)
The 2009 World Tea Expo is projecting record attendance - not despite the current economy, but, at least partially, because of it. Historically, economic downturns have inspired entrepreneurs to launch businesses in niche industries. With specialty tea offering a highly profitable and fast-growing opportunity in the United States, the World Tea Expo and the industry are preparing for a banner year.
Sales of specialty and premium tea in the U.S. are skyrocketing. Earlier this year, market research firm Packaged Facts forecasted that U.S. tea sales would double in five years, from $7.4 billion in 2007 to $15 billion by 2012. The firm further projected that, over the same period, the specialty tea segment of the market would grow to comprise more than half of these total sales, up from its current share of 36 percent. This translates into nearly $5 billion in new specialty tea sales each year for five years - more than double the growth of commercial grade tea.
World Tea Expo features nearly 400 leading companies in the specialty tea business from around the world, including producers from almost every major growing region. Alongside the Expo is a robust educational program, featuring a New Business Boot Camp, an Executive & Technical Series, Skill-Building Workshops and Focused Tastings - all in addition to the more than 40 sessions in the Core Conference Program.
Also held in conjunction with the event is the much anticipated second annual World Tea Championship, an independent evaluation of the top teas from around the world. The winners will be announced during the new awards ceremony at the Expo.
The World Tea Expo will be held May 2-4, 2009, at Mandalay Bay Convention Center in Las Vegas.
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