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Tea Market Scenario

The Global Tea Market is expected to grow significantly during the forecast period owing to the high health benefits of and demand for flavored tea. Tea is an aromatic beverage, usually prepared by pouring hot or boiling water over cured leaves of Camellia sinensis, an evergreen shrub native to Asian countries. Tea is gaining huge demand among consumers due to the various types available, such as black, white, green, and oolong, which are different from each other in terms of processing methods.

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Market Outlook

The Global Tea Market is predicted to exhibit 4.50% CAGR from 2019 to 2024 (forecast period) to touch a size of USD 7,149.90 Million. Health benefits of the beverage which perks up mental alertness levels and provides protection to the human body are expected to drive the market growth. Preference of the beverage by millennials and employees owing to the shift to caffeine-free beverages can boost the global tea market demand by 2024.

Key players

Tata Global Beverages (India), Unilever (The Netherlands), Associated British Foods plc (UK), Taetea (China), Nestlé (Switzerland), Barry's Tea (Ireland), Apeejay Surrendra Group (India), Bettys & Taylors Group Ltd. (UK), McLeod Russel (India), and ITO EN Inc. (US) are some of the key players in the Global Tea Market.

Segmentation Analysis

The global Tea Market is segmented by type, packaging type, form, and distribution channel.

By type, it is segmented into green, oolong, white, black, and others. The black tea segment is touted to dominate the market till 2024 due to containing a higher number of antioxidants. Green tea is predicted to gain the lead in the coming years due to high awareness of consumers and large levels of consumption witnessed in the Asia Pacific.

By packaging type, it is segmented into powder, liquid, and others.

By form, it is segmented into pouches, cans, bottles, tea bags, and others. The tea bags segment is anticipated to gain a large share of the tea market due to its convenience and portability.

Regional Analysis

Asia Pacific, North America, Europe, and Rest-of-the-World (RoW) are regions taken into consideration in the compilation of the global tea market report.

The APAC is expected to exhibit the highest growth rate during the forecast period due to a heavy number of millennials in China and India. In addition, willingness of consumers to experiment with new flavors, penchant for branded products, and high disposable income levels can drive the regional tea market growth.

The North America tea market is deemed to expand due to consumers in the U.S. and Canada. Inclination towards experimental beverages as well as the availability of ready-to-drink beverages in cold and hot forms can bode well for the market growth. Unique combinations formulated by companies which can provide benefits beyond contentment are to be looked out for in the coming years.

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Market Synopsis

Market Research Future (MRFR) postulates that The Global Tea Market is predicted to register a healthy CAGR during the forecast period (2018-2023) owing to its health benefits. Tea is one of the most popular beverages which is obtained from the leaves of the Camellia synesis plant. Known to be originated in China, tea is mainly grown in four nations; India, China, Sri Lanka, and Kenya. Due to the presence of polyphenols working as vitamins, antioxidants, amino acids, and trace minerals, tea offer several health benefits such as lower cholesterol, stronger immunity, prevention of cancer, and increased metabolism.

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Competitive Dashboard

The Major Players Operating The Global Tea Market are Nestlé (Switzerland), Associated British Foods plc (UK), Taetea (China), McLeod Russel (India), Barry's Tea (Ireland), Unilever (The Netherlands), Bettys & Taylors Group Ltd. (UK), Apeejay Surrendra Group (India), Tata Global Beverages (India), and ITO EN Inc. (US).

Market Potential and Pitfalls

Tea is gradually earning its popularity among the beverages which has been instrumental to shape the tea market. Tea is gaining immense prominence among the consumers across the world owing to its several available types such as white, black, oolong, and green, which differ from each other in terms of processing method. Factors such as increased mental awareness and protection of the heart and other organs in the human body are estimated to increase the consumption of tea worldwide. Due to the presence of polyphenol catechins, which acts as a powerful antioxidant, tea improves concentration and offers a mental boost.

Tea offers several health benefits such as strengthening the bones, body’s immune system, and teeth. The presence of antioxidants in tea also reduces the risk of cancer, cardiovascular disease, and kidney stones, and also improves the function of blood vessels and cholesterol level. Such factors are anticipated to trigger the demand for tea throughout the appraisal period. To tap the consumers preferring functional drinks over carbonated drinks, F&B companies are launching variants of tea-based beverages. Variants such as kombucha, green tea, and matcha tea are gaining a foothold in the global market due to their functional properties.

Global Tea Market: Segmental Analysis

The Global Tea Market has been segmented based on form, type, distribution channel, and packaging type.

By Mode Of Type, The Global Tea Market has been segmented into white, black, oolong, green, and others. Among these, the black tea segment is predicted to occupy the larger share in the global market owing to its high demand across the globe. Also, due to continuous development and high production, the segment is gaining prominence.

By Mode Of Form, The Global Tea Market has been segmented into leaves, powder, and others.

By Mode Of Packaging Type, The Global Tea Market has been segmented into bottles, tea bags, pouches, cans, and others. Among these, the tea bags segment is likely to gain prominence during the forecast period as they are convenient to carry, and tea can be made in a hassle-free manner.

Regional Insights

Geographically, The Tea Market is spread across regions namely, Europe, Asia-Pacific, North America, and Rest of the World.

Among these, the Asia Pacific region is predicted to dominate the global tea market as the region is ideally suited to produce tea with the presence of subtropical monsoon climate, hot summers, and dry and cold winters. The flow of FDI attracted by the low-cost advantage offered by the region is further boosting the tea market in this region. Moreover, the emerging nations of the Asia Pacific region have further liberalized the market which is highly supporting the market growth in this region. China is considered one of the largest tea consuming nations owing to the booming awareness associated with the health benefits offered coupled with the increasing demand for hot beverages.

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