(MENAFN- America News Hour) Description
Tea is a hot as well as cold beverage whose preparation include brewing or boiling the dried leaves of the plant Camellia sinensis. It is considered as the world's second most popular beverage after water.
Tea has an ever-growing market growth and it can be attributed to the changing consumer preferences towards healthier beverages. Rising awareness about the health benefits of tea acts as a predominant force in driving its demand. Also, the increasing trend of ready-to-drink tea has become significantly famous. Introduction of new flavours and convenient packs is another key factor that has helped maintain a constant demand for tea across the world.
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Market Dynamics:
According to sources, in 2021, the global tea beverage market is estimated to be worth about 44.3 billion U.S. dollars.
Although, an increase in cost of raw materials due to unpredictable weather, rise in cost of agricultural inputs, and increase in trend of out-of-home coffee consumption are expected to limit the growth of the tea market. Ready-to-go packs and new flavours and variety in tea and growth in demand from the health-concerned young population are anticipated to provide lucrative opportunities for the market.
Geo analysis: Tea is majorly grown in four countries, China, India, Kenya, and Sri Lanka.
Asia-Pacific dominates the rest, registering the highest CAGR of around 6.0% in the global tea market due to high demand in China and India.
North America witnessed the second highest growth rate owing to rise in demand of tea. The Canada tea market was valued at $606 million in 2016, and is expected to reach $838 million by 2023, registering a CAGR of 4.7% during the forecast period.
Change in outlook towards social consumption of tea, increasing tea consumption among all segments of the society, growing prominence of caf and quick service restaurants in urban areas has resulted in increasing demand for tea consumption across the globe.
Among the regions, APAC is estimated to account for the majority in terms of revenue share at 41.2% in 2016, followed by Europe.
According to sources, APAC market is set to witness the highest growth in terms of value over the forecast period, followed by Europe and North America.
Market Segmentation:
The Global Tea Market segment can be divided into:
By Type - Green Tea, Black Tea, Oolong Tea, Fruit/Herbal Tea, Others
By Packaging - Plastic Containers, Loose Tea Packets, Tea Bags, Aluminium Tins
By Application - Residential, Commercial
By Distribution Channel - Supermarkets/Hypermarkets, Speciality stores, convenience stores, online stores.
Key Players:
Key leading players operating in tea industry are:
Tata Global Beverages, Unilever, Associated British Foods Plc. TATA TEA, Nestle, Barry's Tea, Apeejay Surendra Group, Bettys & Taylors Group Ltd., McLeod Russel, and ITO EN Inc.
The other players in the value chain include Mighty Leaf Tea Company, Numi Organic Tea, The Republic of Tea, Tazo Tea Company, Teavana, Celestial Seasonings, Inc., Fukujuen, Harney and Sons, Kazi Tea, M. M. Ispahani Limited, DavidsTea, Tim Hortons, and Godrej Group.
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market - Current Trends
Competition & Major Companies
Technology and R & D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
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Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
Steven John
Steven is working as a news editor with America News Hour. He started his career as a freelance news writer in 2012 and has helped people in all aspects of online marketing through the expert industry coverage. In addition to writing content as a freelancer, he is also an expert in business, lifestyle, politics, sports and tech & science news. His articles are now featured on the overwhelming news website and channels such as MarketWatch, Routers etc.
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