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Global Tea Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Tea Market
Global Tea market was valued at US $ XX Mn in 2017 and expected to grow at 5.8% Compound Annual Growth Rate (CAGR) over 2018 to 2024
Market Outline: Tea Market
Tea is an aromatic beverage which is usually prepared by infusing the dried crushed leaves of the tea plant in boiling water. Various types of tea available in various tastes and flavors. It is one of the frequently consumed beverage all across the world. It has flavonoids, antioxidants, and phytochemicals, which enhance the functioning of human body.
Market Dynamics: Tea Market
Increase in the consumer-base is the major factor influencing the growth of the tea market. Growing awareness among the people regarding the health benefits associated with the consumption of tea is anticipated to drive the growth of the market. The introduction of various flavors such as mint flavor, chocolate flavor, lemon flavor etc. is attributed for the growth of the tea market. The advent of instant or ready-to-drink tea, which is adding fuel for the growth of the tea market. However, the high cost of the raw materials and increasing cost of the agriculture inputs may hinder the growth of the tea market.
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Market Scope: Tea Market
Tea market is segmented based on the product type, packaging, and distribution channel
Based on the product type, the market is segmented into the following:
• Fruit/Herbal Tea
• Black Tea
• Green Tea
• Instant Tea
• Others
Based on the packaging, the market is segmented into the following:
• Loose Tea
• Tea Bags
• Aluminum Tin
• Plastic Containers
• Paper Boards
Based on the distribution channel, the market is segmented into the following:
• Supermarkets/Hypermarkets
• Convenience Stores
• Online Stores
• Others
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Regional Analysis: Tea Market
Geographically, global tea market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific Tea market to keep the top spot in the global tea market. China contributes the largest share in the region of Asia Pacific. Owing to the presence of higher consumer-base, China tea market tops the position in Asia Pacific region. In China tea is also used as medical drink due to the presence of various herbal properties. The herbal tea in China is typically black or dark brown in color. North America follows the Asia Pacific in the global Tea market. Bottled tea accounted as the fastest growing tea format in the region of North America. The Europe tea market is expected to grow at significant rate over the forecast period.
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Competition Assessment: Tea Market
Some of the players in the global Tea market include:
• Nestlé S.A (Switzerland)
• The Republic of Tea (U.S)
• DavidsTea (Canada)
• Akbar Brothers Ltd (Sri Lanka)
• Associated British Foods (UK)
• Unilever (Netherlands)
• Starbucks Corporation (US)
• WISSOTZKY TEA (Russia)
Notable Market Developments: Tea Market
In January 2018, Zest Tea has launched its first ready-to-drink (RTD) products.
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