Tea market overview
In 2021, the global tea market was worth US$22 billion. With a CAGR of 5.6% from 2022 to 2027, the market is expected to reach $30.3 billion by 2027.
Tea is a widely consumed beverage around the world and people have been drinking it for centuries due to its health benefits. Tea is rich in antioxidants and contains healthy bioactive chemicals that reduce the risk of heart disease, promote weight loss and protect against cancer. Although a cup of tea has various health benefits, excessive tea consumption has some negative side effects. According to the University of Maryland Medical Center, excessive consumption of green tea increases the risk of lung cancer, colorectal cancer, and esophageal cancer.
The growing popularity of organic tea is expected to enhance the growth of the tea market. Teas such as black, green and herbal teas are the most popular among customers around the world.
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Associated British Foods Plc., Barry’s Tea Limited, Hain Celestial Group, Inc., ITO EN, Ltd., McLeod Russel, Nestlé SA, Taetea Group, Tata Global drinks, The Republic of Tea, Inc. and Unilever Group are among the major tea market players.
The tea market is divided into types, packaging, distribution channels and applications.
By type, green tea, black tea, oolong tea, fruit teas and others are the various types of tea available. In 2018, black tea was the most profitable segment, and it is expected to continue to be so throughout the forecast year.
By Packaging – The market has been divided into cartons, plastic containers, loose tea, foil cans, tea bags and other categories based on packaging. Currently, the market is dominated by cartons.
In terms of distribution – The market is divided into supermarkets/hypermarkets, specialty retailers, convenience stores, online and others.
By Application – The market has been divided into residential and commercial segments based on application. The household sector currently consumes most of the tea produced. In 2019, the largest segment of the tea market was the supermarket/hypermarket, which held the largest share.
The global tea market is divided into four regions: North America, Europe, Asia-Pacific, Middle East and Africa.
The most important regional markets are Asia-Pacific and Europe.
Asia-Pacific has the largest market for tea consumption. With substantial economic growth in several developing countries like China and India. Green tea exports from China have steadily increased as global consumption has increased.
After China, India is the world’s second largest tea producer. The industry in India is dominated by North India, which accounts for more than three quarters of the total. Assam and West Bengal are the two states that produce the most tea in the country. India is one of the top five tea exporters in the world, accounting for around 10% of global exports. India’s tea exports were valued at US$692.1 million in 2020. Indian teas such as Assam, Darjeeling and Nilgiri are considered some of the best in the world.
Due to the increased demand for the product, which helps in weight management, the United States is expected to boost its North American herbal tea market throughout the forecast period.
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Tata launched Tulsi green and Gold Care, a new tea product, in January 2021.
Honest Tea, an organic tea brand, expanded its lineup by introducing Honest Yerba Mate, a ready-to-drink bottled caffeinated beverage, in April 2021.
Dwayne Johnson and his partners unveiled the ZOA energy drink in January 2021, which contains 160 mg of green tea and unroasted green coffee extracts.
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