Tea Market Overview:
Global Tea Market was valued at $46,392 million in 2016, and is projected to reach at $67,751 million by 2023, growing at a CAGR of 5.5% from 2017 to 2023. Tea is globally the most popular beverage obtained from Camellia sinensis plant leaves. It is known to be originated in China, and is majorly grown in four countries, China, India, Kenya, and Sri Lanka. It offers various health benefits owing to presence of polyphenols working as antioxidants, vitamins, trace minerals, and different amino acids resulting in stronger immunity, lower cholesterol, increased metabolism, prevention of cancer, and more. In addition, presence of small amount of caffeine makes tea a mild stimulant preventing fatigue. Major population consuming tea has developed it as a habit, subsequently contributing in the growth of the tea market.
Annual Per Capita Tea Consumption, By Country
The above figure indicates that Turkey, Ireland, the UK, Russia, and Morocco are top five countries of the world with largest per capita tea consumption. Maximum of the top countries consuming tea belong to Europe and LAMEA regions, resulting in growth of the market.
The global tea market is majorly driven by the health benefits associated with consuming tea and increase in awareness related to carbonated drinks among people. Moreover, increase in caf culture, rise in disposable income, change in tastes of people, and introduction of additional healthy ingredients in tea by different market players are the other factors that fuel the market growth. However, increase in cost of raw materials due to unpredictable weather, rise in cost of agricultural inputs, and increase in trend of out-of-home coffee consumption are expected to limit growth of the tea market. The introduction of new flavors & variety in tea and growth in demand from health-concerned young population are anticipated to provide lucrative opportunities for the market.
The report segments the global tea market based on type, packaging, distribution channel, application, and geography. By type, the market is divided into green tea, black tea, oolong tea, dark tea, and others. On the basis of packaging, it is classified into plastic containers, loose tea (packets & pouches), paper boards, aluminum tin, and tea bags. Based on distribution channel, it is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. Applications covered in the study include residential and commercial. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top Investment Pocket, By Type
Green tea market is the most lucrative segment of the global tea market, possessing high market potential for investment, owing to the rise in demand and increase in awareness regarding the health benefits offered by it. Asia-Pacific shows the highest growth rate for green tea, followed by North America.
Global Tea Market, By Geography
Asia-Pacific dominated the, registering the highest CAGR of around 6.0% in the global tea market due to high demand in China and India. It also. North America witnessed the second highest growth rate owing to rise in demand of tea. The Canada tea market was valued at $606 million in 2016, and is expected to reach $838 million by 2023, registering a CAGR of 4.7% during the forecast period.
Canada Tea Market, 2016-2023 ($million)
Key leading players operating in tea industry are Tata Global Beverages, Unilever, Associated British Foods Plc., TAETEA, Nestl, Barry's Tea, Apeejay Surrendra Group, Bettys & Taylors Group Ltd., McLeod Russel, and ITO EN Inc.
The other players in the value chain include Mighty Leaf Tea Company, Numi Organic Tea, The Republic of Tea, Tazo Tea Company, Teavana, Celestial Seasonings, Inc., Fukujuen, Harney and Sons, Kazi Tea, M. M. Ispahani Limited, DavidsTea, Tim Hortons, and Godrej Group.
Key Benefits for Stakeholders
- This report provides an extensive analysis of the current trends and emerging estimations & dynamics of the global tea market.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Detailed analysis of the industry based on the type and distribution channel help understand the trending product type and other potential variants.
- Porters Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplierbuyer network.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top players within the market framework.
Tea Market Key Segments:
- Green Tea
- Black Tea
- Oolong Tea
- Herbal/Fruit Tea
- Others (White Tea, Dark Tea, and Yellow Tea)
- Plastic Containers
- Loose Tea (Packets & Pouches)
- Paper Boards
- Aluminum Tin
- Tea Bags
By Distribution Channel
- Specialty Stores
- Convenience Stores
- Online Stores
- North America
- Rest of the Europe
- Rest of the Asia-Pacific
- South Africa
- Rest of the LAMEA