The scope of the global Tea Market was appreciated at US$ 12.63 billion in 2018. The range is projected to touch US$ 18.42 billion by 2025, growing at a CAGR of 5.5% for the duration of the forecast.
Market Overview:
This could be attributed to
awareness regarding health benefits pertaining to tea consumption. As such,
majority of global population has started making tea intake as a routine.
Besides, growing urbanized population and middle class of several developing
economies is impacting the consumption of tea in its various forms.
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Key Players:
Unilever,
Tata Global beverages,
Bettys & Taylors Group Ltd.,
ITO EN Inc.,
McLeod Russel,
Apeejay surrendra Group
Growth Drivers:
Tea production as well as
consumption have always held a strong correlation. In other words, tea
production is directly proportional to tea consumption. FAO (Food and
Agricultural Organization of the United Nations) states that production of tea
did witness a yearly rise of 4.4% from 2007 to 2016. Tea consumption also
witnessed rise along the same lines. The same trend is expected to continue in
the next 5-7 years as well.
Market Trends:
The ever-increasing usage of tea
is likely to bring premium products to the market. For instance – in economies
like the U.S., super-premium and premium products hold the largest market
share. Even in the Europe consumers are opting for niche and luxurious flavors
in form of customized offerings. Nutritionists are focusing on consumption of
tea due to contents like phytochemicals, flavonoids, and anti-oxidants.
Tea Product Outlook (Revenue, USD Billion, 2015 - 2025)
• Black
• Green
• Oolong
• Herbal
Germany comes across as one of
the highest importer of tea. Moreover, these imports come from Asian economies
like Sri Lanka, India, China, and African economies like Kenya. As of now,
black tea rules the roost; but introduction of iced teas is expected to
catalyze the market in future. On the other hand, green tea is also catching
up. Its exports will also set the market rolling. Asia Pacific would be the
torchbearer as far as green tea exports are concerned. The benefits of green
tea include boosting immune system and assistance in weight loss.
Market Segmentation:
The global tea market is
segmented based on type, packaging, distribution channel, application, and
geography. By type, the segmentation goes like black tea, green tea, oolong
tea, fruit/herbal tea, and others (dark tea, yellow tea, and white tea). By
packaging, the market says loose tea (pouches & packets), plastic
containers, paper boards, aluminum tin, and tea bags. By distribution channel,
the tea industry spans online stores, convenience stores, specialty stores,
supermarkets/hypermarkets, and others. By application, the same market states
commercial and residential.
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