Key Tea Market Players, Size & Share Witnessing Consistent Growth

Comments · 95 Views

Tea Market Size is Projected to Reach Approximately USD 28.33 Billion by 2032, At a CAGR of 4.60% from 2023 to 2032, Due to Growing Demand for Functional Beverages

Tea Market Overview:

In 2022, the worldwide tea market was worth US$ 18.9 billion. With a CAGR of 4.60 percent from 2023 to 2032, the market is expected to reach US$ 28.33 billion by 2032. 

Tea is a widely consumed beverage around the world, and people have been drinking it for centuries because of its health advantages. Tea is high in antioxidants and includes healthful bioactive chemicals that lessen the risk of heart disease, promote weight loss, and protect against cancer. While a cup of tea has various health benefits, excessive tea consumption has certain negative side effects. Excessive intake of green tea, according to the University of Maryland Medical Centre, increases the risk of lung cancer, colorectal cancer, and oesophageal cancer.

Organic tea's growing popularity is predicted to improve the Tea Market growth. Teas such as black, green, and herbal teas are the most popular among customers all over the world.

Market Segmentations

The tea market is divided into types, packaging, distribution channels, and applications.

By type- green tea, black tea, oolong tea, fruit/herbal tea, and others are the diverse types of tea available. In 2018, black tea was the most profitable segment, and it is predicted to continue to be so throughout the forecast year.

By packaging- The market has been divided into paper boards, plastic containers, loose tea, aluminium tins, tea bags, and other categories based on packaging. Currently, the market is dominated by paper boards.

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 most significant segment in the tea market was the supermarket/hypermarket, which accounted for the most share.

Key Players:

Associated British Foods Plc., Barry's Tea Limited, Hain Celestial Group, Inc., ITO EN, Ltd., McLeod Russel, Nestlé S.A., Taetea Group, Tata Global drinks, The Republic of Tea, Inc., and Unilever Group are some of the main Key Tea Market Players participants.

Regional classifications:

The Global Tea Market is divided into four regions: North America, Europe, Asia Pacific, and the Middle East and Africa.

The most important regional markets are Asia-Pacific and Europe.

Asia-Pacific has the greatest market for tea consumption. With substantial economic growth in several developing countries such as China and India. Green tea exports from China have been steadily increasing 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 world's top five tea exporters, accounting for around 10% of global exports. Tea exports from India were valued at US$ 692.1 million in 2020. Indian teas such as Assam, Darjeeling, and Nilgiri are regarded as among the best in the world.

Due to increased demand for the product, which aids in weight management, the United States is expected to boost its North American herbal tea market throughout the forecast period.

 Industry News:

Tata introduced Tulsi green and Gold Care, a new tea product, in January 2021.

Honest Tea, an organic tea brand, expanded its line by introducing Honest Yerba Mate, a caffeinated ready-to-drink bottled 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.

Related Reports:

Condiments Market Research Report Information By Type (Spices, Sauces Ketchup, Dressings, and Others), By Packaging Type (Bottles, Pouches Sachets, and Others), By Distribution Channel (Store-Based and Non-Store-Based), and By Region (Europe, North America, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2030.

Globaler Marktforschungsbericht für Bio-Säuglingsnahrung: Informationen nach Produkttyp (Ausgangsmilchformel, Folgemilchformel, spezielle Milchformel und andere), Formulierung (Pulverformel, konzentrierte flüssige Formel, fütterungsfertige Formel und andere), Vertriebskanal (im Geschäft und nicht im Geschäft) und Region (Nordamerika, Europa, Asien-Pazifik und Rest der Welt) - Prognose bis 2030

グローバルアーモンドミルク市場調査レポート:カテゴリー(有機および従来型)、包装タイプ(ボトル、缶、カートン)、流通チャネル(店舗ベース(ハイパーマーケット、スーパーマーケット、コンビニエンスストアなど)および非店舗ベース)および地域(北米、ヨーロッパ、アジア太平洋、およびその他の地域)—2027年までの予測

About Market Research Future:

Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.

Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.

Contact Us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street, 5Th Floor,

New York, New York 10013

United States of America

+1 628 258 0071

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com/