New York, US, April 10, 2023 (GLOBE NEWSWIRE) -- Tea Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Tea Market Information By Type, Form, Category, Distribution Channel, and Region- Forecast till 2030”, From 2020 to 2027, the tea market is anticipated to grow at a CAGR of 4.60%. Tea is the most consumed beverage in the world and is made from Camellia sinensis plant leaves. The demand for the product is expected to increase because to growing knowledge of its advantages, which include enhancing the immune system, preserving bones and teeth, lowering the risk of kidney stones, cancer, and cardiovascular disease, and regulating blood cholesterol levels. By 2027, it is anticipated that the tea market would be worth roughly USD 28 billion.
Also, the market is predicted to increase favourably as organic tea gains in popularity. Manufacturers invest in R&D to raise the calibre and flavour of their goods in an effort to increase consumer appeal.
For customers seeking low-sugar beverages, Green Hills, for example, introduced Rum and Honey Flavour Herbal Tea. The product is alcohol-free and is rich in apple, licorice, cinnamon, and star anise, giving it a taste equal to alcohol.
The introduction of premium and unique blends is encouraged by rising consumer disposable income and willingness to spend more on various goods. To combat prevalent medical illnesses like diabetes, obesity, and heart disease, they have included a variety of healthful components to their tea blends. Increasing usage in the cosmetics and beauty industries is anticipated to further propel market expansion. Moreover, a significant element promoting market expansion is the rising acceptability of tea as an alternative to aerated drinks, particularly among health-conscious customers. Tea is an excellent source of antioxidants and has no caffeine.
The demand for functional beverages among consumers has greatly increased due to the growing trend of healthy hydration and on-the-go nourishment. Large quantities of antioxidants included in green tea help to slow down the ageing process of cells and tissues and improve regular bodily processes. The market is expanding as a result of the rising demand for beverages that are nutrient-rich in order to lower the chance of developing certain health disorders. Increasing research and innovation initiatives to create new tea kinds, such as those that are pure, organic, organically flavoured, and ecologically friendly, also help market expansion. During the course of the forecast period, market growth is anticipated to be boosted by technological advancements used to create novel tea packaging.
A significant barrier to the growth of the tea market is the lack of understanding regarding correct farming techniques for growing this tea. The conversion of conventional agricultural techniques to more productive and sustainable ones typically require additional skill from tea farmers. However, this tea's production costs are substantially greater than those of traditional tea, which restrains the market's expansion. The certification procedure involved in the manufacture and selling of organic tea on the global market is highly expensive. Farmers are frequently discouraged from embracing organic farming because of the costs associated with certification and the three-year transition period.
The market's expansion is anticipated to be significantly constrained by the high price of green-type tea. The pricing of green tea continues to be a key issue for the tea business. The Asian nations of Japan, China, and India produce a significant amount of this type of tea.
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Report Scope:
| Report Attribute | Details |
| 2027 Market Size | 2027: 28 billion |
| CAGR | 4.60% (2020–2027) |
| Base Year | 2019 |
| Forecast Period | 2020–2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Form, Category, and Distribution Channel |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing demand for functional beverages |
Prominent players in the Tea Market research include
- Bettys & Taylors Group Ltd.,
- McLeod Russel,
- Mighty Leaf Tea Company,
- ITO EN Inc.,
- The Republic of Tea,
- Tazo Tea Company,
- Numi Organic Tea,
- Teavana,
- Celestial Seasonings, Inc.,
- Fukujuen,
Tea Market Segmentation
Production is typically constrained, and prices are raised due to farmers' lack of knowledge about safe agrochemical usage and proper farming techniques.
Due to the growing trend of natural, clean-label, organic, and healthy products, modern tea consumers actively seek for high-value specialty teas. Consumers want an authentic tea experience and are more knowledgeable about the different types and origins of tea. Manufacturers of creative tea blends, tastes, and ready-to-drink teas are required by the active search among millennials for healthy teas. The increased demand for organically grown tea would be strongly influenced by the growing awareness of the health benefits of this type of tea.
Green tea, black tea, oolong tea, herbal tea, and other types make up the type-based segmentation of the tea market. Due to a wide range of benefits, including antioxidant qualities that eliminate free radicals and reduce cell damage, the black tea category commanded a significant market share in 2020. Yet, due to a rise in people who are concerned about their health and fitness, green tea experienced the biggest growth.
Shape Insights
According to shape, the tea market is divided into loose leaf, tea bags, and other categories. Because to the convenience they provide over loose or differently packed tea, tea bags held the highest share of the global market in 2020. Brewing tea with tea bags is quite simple, and disposing of the empty tea bag is even simpler.
Nonetheless, due to the rising popularity of loose-leaf tea among consumers, this category experienced the quickest growth.
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Sector Insights
The organic and conventional segments of the worldwide market are separated based on category. Due to customers' increasing preference for organic tea, the organic category will rule the tea industry in 2020. Due to the increased consumption of conventional tea in Asia-Pacific nations, conventional was the category with the quickest growth.
Insights On Distribution Channels
The global market has been divided into store-based and non-store-based segments based on distribution channel. Due to the growth of online apps, the availability of discounts, and the simplicity of product delivery, the non-store-based sector had a significant market share in 2020. The store-based segment, however, drives the industry because it provides one-stop access to a variety of brands.
Regional Analysis
North America, Europe, Asia-Pacific, and the Rest of the World are the several regions into which the tea market has been split. The largest share of the market was in North America. The region with the highest CAGR during the predicted period will be Asia-Pacific.
2020 saw North America take the majority of the market share thanks to new trends like the use of natural, secure, clean-label products. People in the area are starting to pay more attention to the safety and ethnic makeup of the healthful foods they choose to eat. Market expansion in North America is driven by the trend of functional organic beverages in the US and Canada. Throughout the projected period, the increased emphasis on creating and releasing cutting-edge organic tea variations in unique packaging is anticipated to fuel regional market expansion.
Due to rising discretionary expenditures among consumers in the region, Asia-Pacific held the second-largest market share in the global market in 2020. Consumer expenditure on healthy items has recently increased in nations including China, India, Japan, and Indonesia. The region's market is expanding mostly due to the rising demand for green tea and herbal tea to enhance beauty and health. Compared to traditional tea varieties, this tea is thought to be healthier. The market growth in Asia-Pacific has also been greatly aided by the region's brisk food and beverage industry expansion.
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