According to a new report published by Allied Market Research, titled, “Green Tea Market," The green tea market was valued at $14.8 billion in 2021, and is estimated to reach $29.3 billion by 2030, growing at a CAGR of 8.04% from 2022 to 2030.
Millennials are increasingly turning to green tea as a healthy, organic, and plant-based beverage. Green tea is made from the dried leaves of the Camellia Saneness plant. Green tea is a famous beverage that originated in China and is now enjoyed worldwide. Green tea provides numerous health benefits, including weight loss & maintenance, detoxification, and many others. Matcha green tea is a popular green tea that is crushed instead of steeped like conventional green tea. Two of the most popular green tea brands in the market right now are Lipton green tea and Tetley green tea.
The rising demand for good health boosting beverages is the major factor estimated to propel the green tea market demand in the upcoming years. Green tea's health advantages are becoming more well-known as consumers become more interested on living a healthy lifestyle. Green tea provides a number of health benefits, including the reduction of the risk of cardiovascular disease. Over the forecast period, growing consumer demand for healthy beverages, such as green tea, is predicted to drive the market. This is due to the high incidence of lifestyle-related health conditions such as obesity and high blood pressure.
However, green tea beverages are very costly compared to their other competitor teas in the market like cinnamon tea and more. This factor is likely to hinder market growth in the projected time span.
Major green tea market participants have started focusing on new product development to meet the rising demand for high-nutrition beverages such match green tea and green tea. In the future, such items are expected to be beneficial to the sector. These factors are anticipated to boost the green tea market growth in the upcoming years.
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
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 report offers a comprehensive analysis of the global green tea market trends by thoroughly studying different aspects of the market including major segments, market statistics, green tea market size, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers & suppliers, threats of new players, and the emergence of substitutes in the market.
Impact of Covid-19 on the Global Green Tea Industry
- The green tea market sector has profited from the outbreak of the COVID-19 pandemic. Green tea consumption and output increased, while other industries faced substantial setbacks. In reaction to the high incidence of transmission and prevalence of significant symptoms, people began drinking healthier beverages such as green tea, matcha tea, and black tea. The complete green tea trend analysis with pandemic impact owing to import-export restrictions, and shortage of labors has been provided.
- Green tea has a variety of health benefits, including decreasing acidity, managing weight, and stimulating the immune system. As a result, many people opt for green tea to help them prepare for and protect themselves from the coronavirus. This element increased the green tea market share during the epidemic.
Key Findings of the Study
- By type, the flavored green tea sub-segment is predicted to have a dominating market share in the global market during the forecast period.
- By form, the green tea bags sub-segment is predicted to have the highest market share in the global market during the forecast period.
- By distribution channel, the supermarket/hypermarket sub-segment is predicted to have a dominating market share in the global market.
- By region, Asia-Pacific dominated the global market in 2021 and is projected to remain the fastest-growing sub-segment during the forecast period.