Tea Market Assessment 2024-2030: Global And Regional Shares & Trends For Black, Green, Oolong, And Herbal Teas - A $92 Billion Opportunity
Date
9/16/2024 11:16:02 AM
(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 16, 2024 (GLOBE NEWSWIRE) -- The "Tea market Size, Share & Trends Analysis, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global tea market size is expected to reach USD 91.98 billion in 2030 and is projected to grow at a CAGR of 7.4% from 2024 to 2030. The rising popularity of carbonated drinks coupled with rise in consumer disposable income, especially in emerging economies such as India, China, and Brazil will create robust product demand.
Changing demographics, rise in disposable income of middle class population, especially in urban areas is anticipated to drive the product consumption and in turn drive the market. Millennials are anticipated to register the strongest growth, especially in countries such as China, Japan, Brazil, and India. Rising awareness regarding the benefits of drinking tea coupled with willingness to shell out money on the product is anticipated to bode well for the demand. Hence, to leverage this trend, a number of manufacturers are repositioning the product like a lifestyle brand to reach more consumers. They engage in social media campaigns and celebrity advertising to promote their new and premium flavors.
Most companies operating in the market engage in product innovation and R&D. They also focus on innovative advertising and social media campaigns to attract more target consumers. Tata Global Beverages entered into Ready-to-Drink segment with the introduction of green tea based drink, led by Tata Tea in India and Tetley in Canada.
Tea Market Trends Asia Pacific held the largest market revenue share of 35.2% in 2023. The black segment held the largest market revenue share of 39.1% in 2023 and is projected to exhibit a significant rise in the next few years. The Middle East and Africa is projected to witness the fastest CAGR over the forecast period. Online segment is projected to witness the fastest CAGR over the forecast period. Consumers are increasingly turning to online platforms for convenience and accessibility, allowing them to browse a wide range of tea varieties and brands from the comfort of their homes.
Why should you buy this report?
Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments. Competitive Landscape: Explore the market presence of key players worldwide. Future Trends: Discover the pivotal trends and drivers shaping the future of the global market. Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $56.27 Billion |
| Forecasted Market Value (USD) by 2030 | $91.98 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Cake Mixes Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related Market Outlook
3.2. Industry Value Chain Analysis
3.2.1. Sales/Retail Channel Analysis
3.2.2. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Industry Challenges
3.3.4. Industry Opportunities
3.4. Industry Analysis Tools
3.4.1. Porter's Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographic Analysis
4.2. Consumer Trends & Preferences
4.3. Factors Influencing Buying Decisions
4.4. Consumer Product Adoption Trends
4.5. Observations & Recommendations
Chapter 5. Global Tea Market: Product Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Global Tea Market: Product Movement Analysis, 2023 & 2030 (USD Million)
5.3. Black
5.4. Green
5.5. Oolong
5.6. Herbal
Chapter 6. Global Tea Market: Distribution Channel Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Global Tea Market: Distribution Channel Movement Analysis, 2023 & 2030 (USD Million)
6.3. Hypermarkets & Supermarkets
6.4. Convenience Stores
6.5. Specialty Stores
6.6. Online
Chapter 7. Global Tea Market: Regional Estimates & Trend Analysis
7.1. Global Tea Market Share, by Region, 2023 & 2030 (USD Million)
7.2. North America
7.3. Europe
7.4. Asia Pacific
7.5. Latin America
7.6. Middle East and Africa
Chapter 8. Competitive Landscape
8.1. Recent Developments & Impact Analysis by Key Market Participants
8.2. Company Categorization
8.3. Company Heat Map Analysis
8.4. Company Profiles
8.4.1. Twinnings
8.4.2. Dilmah
8.4.3. Bigelow Tea Company
8.4.4. PepsiCo, Inc.
8.4.5. Yorkshire Tea
8.4.6. Starbucks Coffee Company
8.4.7. Unilever
8.4.8. Caraway Tea
8.4.9. Harris Tea Company
8.4.10. Republic of Tea
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