Green Tea Market Research, 2030
The global green tea market was valued at $14.8 billion in 2021, and is projected to reach $29.3 billion by 2030, growing at a CAGR of 8.04% from 2022 to 2030. Green tea has been increasingly popular among millennials as a healthy, organic, and plant-based beverage. The dried leaves of the Camellia Saneness plant are used to make green tea. Green tea is a popular beverage that originated in China and is now consumed all over the world. Green tea has a long list of health advantages, including weight loss & maintenance, detoxification, and more. Matcha green tea is a popular sort of green tea that is crushed rather than brewed like regular green tea. Lipton green tea and Tetley green tea are two of the most popular green tea brands in the market right now.
The green tea market is segmented into Type, Form, and Distribution Channel.
Antioxidant-rich foods and beverages, such as tea, have become more popular as people become more aware of their health benefits. In recent years, green tea has gained a lot of popularity among customers as a rapid supply of nutrients. Consumers now have more money to spend on high-quality products that help them maintain and improve their health. The increased demand for natural, organic, and clean label items has fueled the growing popularity of these products around the world.
Due to its high nutritional value and considerable processing of green tea leaves in manufacturing facilities, green tea is a costly beverage. As a result, only a small percentage of the population in developing countries can purchase green tea. Over the forecast period, this factor is expected to hamper the expansion of the green tea market. Furthermore, a lack of awareness among people in rural parts of developing countries about the availability of healthy tea beverages such as matcha green tea is expected to stifle the market even further.
Major participants have begun focusing on new product development to meet the rising demand for high-nutrition beverages such as matcha green tea and green tea. Tetley, a well-known green tea brand from the Tata Consumer Product., launched a new green tea product called ‘green tea immune,' which is high in vitamin C and helps to boost a person's immunity. To appeal to a wider population, the company has produced the product in four various flavors: traditional, ginger & mint, mango variation, and lemon & honey. In the future, such factors are expected to enhance the industry.
The companies involved in the green tea market are Unilever Plc., Tata Consumer Products ltd., Typhoo Tea, Associated British Foods Plc., The Begilow Tea Company, Tazo Tea Company, Numi Organic Tea, The Republic of Tea, Inc., East West Tea Company LLC., and Northern Tea Merchants Ltd.
The global green tea market is segmented on the basis of type, form, distribution channel, and region. By type, the market is sub-segmented into flavored and unflavored. By form, the market is classified into green tea bags, loose green tea leaves, and instant green tea mixes. By distribution channel, the market is classified into supermarket/hypermarket, convenience stores/specialty stores and online. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By type, the flavored green tea sub-segment is predicted to have a dominating market share in the global green tea market during the forecast period. The increased demand is attributed to people's increasing desire for flavored beverages to enhance their taste. Many companies have introduced new green tea drinks in a variety of tastes, like lemon & ginger, to appeal to a wider range of consumers. Furthermore, many people dislike the taste of green tea as it is, and as a result, they want different tastes of green tea. These are predicted to be the major factors affecting the green tea market size during the forecast period too.
By form, the green tea bags sub-segment is predicted to have the highest market share in the global market during the forecast period. Green tea bags are lightweight and portable, making them ideal for travel. Green tea bags also make it simple to make tea because they are hassle-free and do not require much equipment. Apart from that, young people utilize used green tea bags to treat skin problems such as rashes and itching. These are predicted to be the major factors driving the popularity of green tea during the forecast period.
By distribution channel, the supermarket/hypermarket sub-segment is predicted to have a dominant green tea market share in the upcoming years. The sub-segment is expected to increase rapidly in the future because of the enormous number of shopping stores around the world. Supermarkets and hypermarkets provide the delight of selecting things physically. Furthermore, the products are properly organized on the shelves, giving customers a better understanding of the thing, they intend to purchase. People can also buy green tea in any flavor they like right there on the spot. These are predicted to be the major factors escalating the green tea market demand during the forecast period.
By region, Asia-Pacific dominated the global market in 2021 and is projected to remain the fastest-growing sub-segment in the green tea market during the forecast period. The existence of major green tea producing countries such as China, Pakistan, India, and Sri Lanka in the world is credited with the expansion. Since the region's natural features, such as temperature, humidity, and soil texture are conducive to tea growth, many countries, including China and India, have focused on planting tea plants across vast swaths of territory.
Impact of COVID-19 on the Global Green Tea Industry
- The outbreak of the COVID-19 pandemic has benefited green tea sales. Whereas other industries suffered significant setbacks, green tea demand and output skyrocketed. People moved to healthy options in beverages including green tea, matcha tea, and black tea in response to the high incidence of transmission and prevalence of serious symptoms.
- Green tea provides numerous health benefits, including lowering acidity, maintaining body weight, and boosting one's immune. As a result, many people choose green tea to prepare and protect their bodies against coronavirus. During the pandemic, this aspect boosted green tea sales.
- In addition, to meet the soaring demand for green tea in the COVID-19 scenario, manufacturing companies increased green tea production.
Highlights of the Report
- The report provides exclusive and comprehensive analysis of the global green tea market trends along with the green tea market forecast.
- The report elucidates the green tea market opportunity along with key drivers and restraints of the market. It is a compilation of detailed information, inputs from industry participants & industry experts across the value chain, and quantitative & qualitative assessment by industry analysts.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers, the competitive scenario of the market for strategy building, and complete green tea market outlook.
- The report entailing the green tea market analysis maps the qualitative sway of various industry factors on market segments as well as geographies.
- The data in this report aims on market dynamics, trends, and developments affecting the green tea market growth.
Green Tea Market Report Highlights
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Analyst Review
Increase in demand for healthy beverages among people to accelerate their immunity and develop a good health is likely to accelerate the green tea market growth. However, high cost of green tea products and low penetration of these products in less developed areas are the key factors expected to hamper the market growth during the forecast period. On the contrary, continuous efforts by the companies to develop their green tea product portfolios and launch new flavors in the market are anticipated to register huge market growth potential.
Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the market by the end of 2030. Growing product penetration and high demand for healthy beverages are key factors responsible for market growth in the region.
Growing popularity of green tea among people owing to high health benefits is expected to have a positive impact on green tea market share growth. Rising demand for healthy drinks has provided tremendous growth opportunities for the key players to launch new products which have further driven the market growth.
The major growth strategies adopted by green tea market players are product launch, business expansion, and investment.
Asia-Pacific is the largest regional market for green tea.
The green tea market is estimated to reach 29,267.3 million by 2030.
Unilever Plc., Tata Consumer Products ltd., Typhoo Tea, and Associated British Foods Plc. are some of the leading companies to hold the market share in the green tea industry.
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