Dublin, March 20, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a leading Food and Beverages business consultancy and research firm has published a report on the “Tea Market”. The total market opportunity for Tea Market was USD 62.68 Bn in 2021 and is expected to grow at a CAGR 6.6 percent through the forecast period, reaching USD 104.91 Bn by 2029. As per the report, the global Tea Market is expected to be dominated by the Asia-Pacific and European region to grow at a significant growth rate during the forecast period.
| Market Size in 2021 | USD 62.68 Bn. |
| Market Size in 2029 | USD 104.91 Bn. |
| CAGR | 6.6 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 287 |
| No. of Tables | 116 |
| No. of Charts and Figures | 115 |
| Segment Covered | Product and Channel Distribution |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Request For Free Sample Report : https://www.maximizemarketresearch.com/request-sample/19202
Tea Market Scope and Research Methodology
The report on Tea Market provides a thorough analysis of the market structure and the nature of competition in the market. The Tea Market size was estimated meticulously by using a bottom-up approach to get an understanding of the market growth. Key insights covered in the report include the major drivers of the market at global and regional level, challenges for future growth and various opportunities due to technical advancements in the market.
Regional analysis is conducted to provide information on the market leaders in various regions, market penetration and demographic factors affecting the regional Tea industry. The market is broken down into two major segments by product and distribution channel. Segment-wise analysis helps gain insights into the core target consumers of the product, its manufacturers and devise advertising campaigns for the same.
For the competitive analysis of the Tea Market, a competitive matrix is made covering market leaders and new entrants. The report presents an overview of each company along with important takeaways based on the revenue generated, financial health, technological advancements, recent developments, mergers and acquisitions, joint ventures, alliances and marketing tactics.
Data for the analysis was collected using primary and secondary research methods. A mix of qualitative and quantitative analysis was used in the report. Primary research was used to validate the findings from the secondary research. Research tools such as SWOT, PESTLE and Porter’s Five Force analysis was used to grasp the factors affecting the growth of the Tea Market. Such analysis makes the report an investor’s guide, thereby helping clients take investment and marketing decisions.
Tea Market Overview
Originated in the Eastern part of Asia, tea is a popular beverage made from the leaves of tea plant. The beverage is made by pouring hot water on fresh or dried leaves, thereby infusing the water with its scent and flavour. Over the years, the consumption of tea has increased among the westerners with a wide range of flavours being offered to choose from. Increasing awareness among consumers regarding the health benefits offered by the consumption of tea is expected to be the primary driver for the tea industry growth.
Get a Sample Copy of the Report : https://www.maximizemarketresearch.com/request-sample/19202
Tea Market Dynamics
The increasing demand for healthier drinks, increasing disposable income and the introduction of various healthy ingredients in tea by different market players are the major drivers of the tea market. During the forecast period, the shifting preferences of people towards flavored tea and the availability of wide variants of tea are expected to contribute to the Tea Market growth. The fluctuating prices of raw materials due to the unpredictable climatic conditions are to pose a major challenge for the global tea industry’s growth. The market growth is also expected to be restrained by the availability of substitutes for tea such as coffee and other beverages over the forecast period.
Tea Market Regional Insights
During the forecast period, the Asia Pacific and Europe are expected to hold the largest shares of the global tea market. The major factor that is driving the market growth in these regions is the increasing consumption of tea due to the health benefits associated with it.
The tea market in the Middle East and Africa (MEA) is expected to grow at a CAGR of 7.3 percent during the forecast period. The regional Tea Market is majorly driven by the increasing awareness about the benefits of the product.
Get Customization on this Report for Specific Research Solutions: https://www.maximizemarketresearch.com/request-customization/19202
Tea Market Segmentation
By Product:
- Black
- Green
- Oolong
- Herbal
By Distribution Channel:
- Supermarkets & Hypermarkets
- Specialty Stores
- Online
Tea Market Key Competitors include:
- Tata Global Beverages Limited
- Unilever Plc
- Associated British Foods Plc
- Barry’s Tea
- Apeejay Surrendra Group
- Bettys & Taylors Group Ltd.
- Mcleod Russel India Ltd
- Ito En, Ltd
- Davids Tea Inc.
- Tea Forté Inc.
- Barry's Tea
- R Twining And Company Limited
- Hain Celestial Group Inc.
- Nestle SA
- Orientis Group (Kusmi Tea)
- The Republic Of Tea
- Tazo Tea Company
- Numi Inc.
- Apeejay Surrendra Group
- Mighty Leaf Tea Company
- Bettys & Taylors Group Ltd.
- Cleod Russel
Get the Sample PDF of Report: https://www.maximizemarketresearch.com/request-sample/19202
Key questions answered in the Tea Market are:
- What is Tea?
- What is the current growth rate of the Tea Market?
- Who are the key players in the Tea Market?
- What are the factors affecting growth in the Tea Market?
- Who held the largest market share in Tea Market?
- What is the demand pattern for the Tea Market?
- What are the opportunities for the Tea Market?
- What are the strategies used by competitors in the Tea Market?
- What are the growth prospects in developing countries for the Tea Market?
- Which segment is expected to witness the fastest growth and why in the Tea Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Product, Distribution and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Food and Beverages research firm, has also published the following reports:
Tea & Tea Based Beverages Market-The market size is expected to reach USD 76 Bn by 2029 at a CAGR of 5.7 percent during the forecast period. It is expected to be driven increasing awareness among consumers about a healthy diet and the influx of a variety of origins and flavours of tea.
Craft Tea Market-The market size is expected to reach USD 458.91 Mn by 2029 at a CAGR of 4.2 percent during the forecast period. It is expected to be driven by increasing awareness among consumers regarding health benefits associated with it such as reduction in weight and its easy availability in stores and supermarkets.
Fruit Tea Market-The market size is expected to reach USD 714.74 Mn by 2029 at a CAGR of 2.8 percent during the forecast period. It is expected to be driven by growing popularity of the drink among health conscious population and nutritional benefits offered by the drink which include Vitamin C and antioxidants.
Tea Infuser Market-The market size is expected to reach USD 328.93 Mn by 2029 at a CAGR of 4.7 percent during the forecast period. It is expected to be driven primarily by the increasing demand for tea. Along with that, the growth of the e-commerce sector is also driving the growth of the Tea Market.
Bubble Tea Market-The market size is expected to reach USD 5.36 Bn by 2029 at a CAGR of 8.9 percent during the forecast period. It is expected to be driven by its popularity on the social media platforms, especially among the youth and teenagers and the variety of flavours and variations offered.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
