Global Green Tea Market is Expected to Reach US$ 25.2 Billion by 2024 – IMARC Group

Due to the several health benefits associated with the consumption of green tea, growing concerns regarding personal health and the arrival of new and different product variants, the global green tea market is anticipated to experience moderate growth in the coming years.

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According to the latest report by IMARC Group, titled “Green Tea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global green tea market size reached US$ 17.4 Billion in 2018. Green tea refers to the leaves of the Camellia sinensis plant which have not undergone the oxidation process. Originating in China, the production of green tea has spread to parts of the world including other Asian countries. There are numerous varieties of green tea currently available which are differentiated on the basis of agriculture methods, growing conditions and time of harvest. The antioxidants present in green tea aid in reducing the oxidation of bad cholesterol and elevating the levels of high-density lipoprotein, also known as good cholesterol, which improves artery functions in the human body.

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Market Drivers:

Regular consumption of green tea can reduce the risk of death from cardiovascular diseases and inhibit the growth of cancer cells due to the presence of catechin, a type of natural phenol. Moreover, its intake improves the function of endothelial cells which prevent the clogging of arteries. Due to the growing awareness about health issues along with the medicinal benefits of green tea, consumers are now shifting from traditional black tea to green tea which acts as one of the major growth-inducing factors for the market. Further, powdered green tea, known as matcha, is quickly gaining popularity as it helps in losing weight and cleansing the body naturally. Additionally, the arrival of value-added products, including new and different flavors of green tea, has created great scope for manufacturers to expand their product portfolio. Besides this, the premiumization of green tea in restaurants and cafes is also creating potential growth opportunities in various parts of the world. Looking forward, the market value is anticipated to reach US$ 25.2 Billion by 2024, expanding at a CAGR of about 6% during the forecast period of 2019-2024.

Insights on Market Segmentation:

Breakup by Type:

1. Green Tea Bags

2. Green Tea Instant Mixes

3. Iced Green Tea

4. Loose Leaf

5. Capsules

6. Others

Based on types, the market has been segmented into tea bags, tea instant mixes, iced green tea, loose leaf, capsules and others. Amongst these, green tea bags are mostly preferred by consumers and hold the dominant share.

Breakup by Flavour:

1. Lemon

2. Aloe Vera

3. Cinnamon

4. Vanilla

5. Wild Berry

6. Jasmin

7. Basil

8. Others

On the basis of flavors, lemon green tea accounts for the majority of the total market share, representing the most popular flavor. Other segments include aloe vera, cinnamon, vanilla wild berry, jasmin, basil and others.

Breakup by Distribution Channel:

1. Supermarkets and Hypermarkets

2. Specialty Stores

3. Convenience Stores

4. Online

5. Others

Based on distribution channels, the market has been categorized as supermarkets and hypermarkets, specialty stores, convenience stores, online and others. Green tea is majorly distributed through supermarkets and hypermarkets across the globe.

Breakup by Region:

1. Asia Pacific

2. North America

3. Europe

4. Middle East and Africa

5. Latin America

On the geographical front, Asia Pacific exhibits a clear dominance in the market, holding the biggest share. Other regions include North America, Europe, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has been analyzed with the key players being AMORE Pacific Corp., Cape Natural Tea Products, Celestial Seasonings, Finlay’s Beverages Ltd., Arizona Beverage Company, Associated British Foods LLC, The Coca-Cola Company, Tata Global Beverages, Unilever, Metropolitan Tea Company, Northern Tea Merchants Ltd., Numi Organic Tea, Oishi Group Plc., Frontier Natural Products Co-Op., Hambleden Herbs, Hankook Tea, Honest Tea, Inc., ITO EN, Kirin Beverage Corp., Oregon Chai Inc. and Yogi Tea.

Related reports:

Tea Market Report: https://www.imarcgroup.com/tea-market

Thailand Coffee and Tea Capsules Market: https://www.imarcgroup.com/thailand-coffee-tea-capsules-market

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This release was published on openPR.