Prominent tea brand Brooke Bond, a Hindustan Unilever Ltd brand, is eyeing double-digit growth in Uttar Pradesh from 8-9 per cent at present.
The tea company, which has a market share of about 15 per cent in UP, is confident that the trend of people shifting from unbraded tea to packaged tea will continue and the company will clock double-digit growth.
“With rise in the wholesale tea prices, the branded segment would be in a better position to absorb the shock due to bulk buying. Thus, the prices of branded tea would continue to be stable vis-à-vis unbranded tea and attract more buyers,” Vikrant Shinde, brand manager of Taaza, a Brooke Bond brand, told Business Standard.
The total tea market in the state, estimated at 42,000 tonnes per annum, accounts for almost 12 per cent of the total Indian market.
Besides, the unbranded tea segment roughly constitutes 50 per cent of the country’s tea market.
Brooke Bond is the mother brand for Taj Mahal, Red Label, Taaza and Three Roses tea and Bru coffee. Brooke Bond has a collective market share of about 19 per cent, just behind the market leader, Tata Tea.