Tea Market To Be Dominated By Black Tea During the Forecast Period
Emergence of additional healthy ingredients
in tea along with the growth in demand for herbal tea, owing to prevalence of
tea culture are the leading factors driving the global tea market during the
projected period.
According to TechSci Research
report, “Tea Market– Global Industry Size, Share, Trends,
Competition, Opportunity, and Forecast, 2018-2028F” The Global Tea Market is
expected to grow faster during the forecast period. Tea is one of the most
popular beverages globally. Black tea and green tea is considered as
a beneficial source of antioxidants and has several health advantages,
including lowering the risk of heart attack and stroke, helping you lose
weight, maintaining the strength of your bones, increasing your immune, and
improving digestion which is anticipated to boost the demand of tea globally
during the forecast period.
Due to its numerous benefits, tea as a
beverage is widely consumed. Additionally. it is projected that the expansion
of new tea types including organic tea, green tea, fruit tea, chamomile tea,
white tea, and others would create great growth potential in the market.
Consumers' increasing disposable incomes have made it possible for tea
manufacturers to launch high-end, health-focused products. To combat some of
the prevalent health concerns such as diabetes, beauty, obesity, heart
health, etc., began incorporating several healthy elements into their
formulations of organic tea. As a result, the market for tea is expanding due
to a growing trend that is a shift toward the consumption of organic tea.
Tea is a
low-cost beverage that is popular with individuals from all socio-economic
backgrounds considering it as a refreshing drink. As tea is affordable by a
large population with low-income groups, the demand of will continue to rise
during the forecast period across the globe.
Due to actual
or perceived health benefits, green tea, herbal tea and fruit teas are becoming
more and more popular in various countries, predominantly in Europe. The
public's interest in premium organic, locally sourced teas has also grown at
the same time. The market is characterized by innovation and premiumization,
which draws an increasing number of young consumers from a developing middle
class.
According to
Food and Agriculture Organization of United States, an estimated 6.5 million
tonnes of tea were produced worldwide in 2021, up from 6.3 million tonnes in
2020, as some of the major producing countries, like India and Sri Lanka,
rebounded from the shortfalls in black tea output in 2020. With 3.1 million
tonnes produced in 2021 compared to 2.9 million tonnes in 2020, China will
continue to be the world's top producer of tea, contributing 47% of worldwide
production. In 2021, production in India, the world's second-largest producer,
increased to 1.33 million tonnes from 1.26 million tonnes in 2020.
Browse over XX market data Figures spread through XX pages and an in-depth TOC
on "Global Tea Market"
The global tea market is
segmented based on product type, form, packaging type, and distribution
channel.
The market is divided
into green tea,
black tea, oolong tea, herbal tea, white tea based on product type.
Among which black tea has a prominent share globally as it is one of the most
popular beverages due to the wide range of benefits, which lowers down the
level of cholesterol that
reduces the risk of heart disease. Green tea is the fastest growing
segment owing to benefits by consuming green tea. Due to its benefits for weight loss and healthy
skin. Green tea is becoming more and more popular among individuals who are
concerned about their health and fitness.
Based on packaging type
the market is segmented into tea bags and loose tea. Among which loose tea has
a significant share across the globe due to ease of availability at low price.
Based on form, the
market is further divided into powder and dried leaf. Among which powder is
leading with significant share as it
often tastes fresher and better quality.
Based on distribution
channels, the market is fragmented into supermarkets/hypermarkets, convenience
stores, departmental stores, online stores, and others (direct sales,
distributor & dealer sales etc.). Supermarket/Hypermarket has the highest
share in the tea market, this is due to options such as the one-stop shopping
experience offered by various retail formats, which makes it a very popular
choice for consumers.
The market analysis also
studies the regional segmentation to devise regional market segmentation,
divided among North America, Europe, Asia-Pacific, South America, and Middle
East & Africa. Among which Asia-Pacific has a prominent share mostly due to the extensive tea culture in
countries such as China, India, Japan, and others.
Key market players in the global tea market include:
- Ito En, Ltd.
- Associated British Foods plc (Twinings)
- The Republic of Tea, Inc.
- Barry's Tea Limited
- Hain Celestial Group, Inc.
- Unilever plc
- Tata Consumer Products Limited
- Nestlé S.A.
- Harney & Sons Tea Corp.
- Bettys & Taylors of Harrogate Ltd.
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“The rising
demand for organic tea and green tea is anticipated to rise the demand of tea
market globally during the forecast period. In addition, Tea has become
extremely popular due to the existence of tea culture in the emerging market.
The rise of the tea industry has also been aided by increased disposable income
and health consciousness. . Other factors driving
market growth include the rise in taste and preference modifications as well as
the addition of new healthful ingredients to tea by various market competitors. said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management consulting
firm.
“Tea Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By
Product Type (Green Tea, Black Tea, Oolong Tea, Herbal Tea, White Tea), By Form
(Powder, Dried Leaves) By Packaging Type (Tea Bags, Loose Tea), By Distribution
Channel (Supermarkets/Hypermarkets, Convenience Stores, Departmental Stores,
Online Stores, Others (Direct Sales, Distributor & Dealer Sales etc.)), By
Region, Competition, Forecast
& Opportunities, 2018-2028F”, has evaluated the future
growth potential of tea in the global market and provides statistics and
information on market structure, size, share, and future growth. The report is
intended 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 present in the global tea market.
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