Orthodox Tea Market Anticipated to Undergo Significant Growth Through FY2026
Growing number of
health-conscious consumers and increasing availability of exclusive range are acting
as key growth drivers for India orthodox tea market.
According
to TechSci Research report, “India
Orthodox Tea Market By Blend Type (Oolong, White, Green, Black), By Distribution
Channel (Offline (Supermarket/Hypermarket, Convenience Stores, Independent
Small Grocers), Online), By Region, Forecast & Opportunities, FY2026”, the market is anticipated to undergo a rapid CAGR during
the forecast period on account of increasing export of orthodox tea from
various countries, primarily Iran. The entry of new tea players in the Indian
market is also a key factor boosting the growth of orthodox tea market.
Moreover, increasing number of health-conscious consumers and growing awareness
towards health benefits of orthodox tea are some other major factors propelling
the growth of India orthodox tea market. Also, the growing availability of
exclusive range of orthodox tea such as such as oolong, white, green and black,
among others is further expected to drive the market growth through FY2026.
According to the latest data, Indian tea exports to
Iran increased by 125 per cent in 7 months of FY2019. Also, Iran supported the
offtake of Indian orthodox tea which is a major lift for orthodox tea market.
On the domestic front, increasing working population is also acting as a growth
factor for orthodox tea market as they constitute a major proportion of tea
consumers in the country. Furthermore, heavy investments in tea processing units
and increasing investment in farming sector are also anticipated to augment he
growth of India orthodox tea market in coming years. Apart from this, orthodox
tea is high in antioxidants and thus is helpful in prevention of various
cardiovascular diseases. Owing to this, dieticians and healthcare experts are
also recommending daily intake of orthodox tea which is supporting the market
growth. The increasing prevalence of various chronic dieses and growing focus
of consumers on boosting their immunity are also leading to increasing demand
for orthodox tea in the country.
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India
orthodox tea market can be segmented based on blend type, distribution channel
and region. Based on blend type, the market can be split into oolong, white,
green and black. Among them, the green tea segment accounted for largest market
share in 2019 and is further expected to undergo fastest CAGR during the
forecast period. The reasons can be attributed to growing popularity of green
tea as they are helpful in reducing stress & anxiety and keep the body fit.
Based
on distribution channel, India orthodox market can be segmented into offline
and online channels. The offline channel is further segmented into
supermarket/hypermarket, convenience stores and independent small grocers. Among
them, the online segment is expected to witness high growth during the forecast
period on account of increasing preference of consumers to shop online and
rapid digitalization in the country. Moreover, the thriving e-commerce industry
and availability of wide range of products are also making online channels a
fastest growing segment in India.
Major players operating in the India orthodox
tea market are Tata Group, Harrisons Malayala Limited,
Himalayan Black Orthodox Tea, Kangra Valley, Chamraj tea Company, Teesta Valle
and Kanan Devan Hills Plantations Company Private Limited. Companies are undergoing
growth strategies such as mergers & acquisitions, collaborations and
partnerships to strengthen their position in Indian tea market.
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“Orthodox tea companies are focused on maintaining the
high quality of their products. The tea price increased by 15 per cent in
financial year 2019. However, the companies are primarily dependent on export
as major source of their revenue generation. The growing number of health
conscious population in India is a
positive sign for orthodox tea market and the companies are now focused on
increasing their sale in domestic market,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based India management consulting
firm.
“India
Orthodox Tea Market By Blend Type (Oolong, White, Green, Black), By Distribution Channel (Offline
(Supermarket/Hypermarket, Convenience Stores, Independent Small Grocers),
Online), By Region, Forecast & Opportunities, FY2026” has
evaluated the future growth potential of orthodox tea market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India orthodox tea market.
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