Press release
Green Tea Market Demand, Size, Share, Competitive Landscape, Industry Trend, Top Key Players, Growth Opportunities, Leading Company Analysis, Current Scenario, Global Forecast To 2024
Green Tea Market
Green tea is made from camellia sinensis leaves that have undergone minimal oxidation during processes. The various health benefits of green tea are increasing the demand for it among consumers. One of the significant reasons for the growth of the green tea market is the medicinal benefits of green tea. The antioxidant property of green tea aids blocking the oxidation of low-density lipoprotein and cholesterol. Thus, the increasing prevalence of cardiovascular diseases and obesity cases are anticipated to increase the consumption of green tea during the forecast period. The global green tea market is expected to garner a revenue of USD 9 billion by 2024, with a CAGR of 5.8% during the forecast period, 2019–2024.
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Green teas are gaining acceptance globally, owing to increasing health concerns among the population. Additionally, due to rising costs of healthcare, consumers are inclining towards green tea to stay healthy. Increasing awareness among the consumers regarding the benefits associated with the product is also driving the growth of the market.
Rising demand for functional food and beverages is also indicating the growth of green tea. Moreover, continuous R&D in this field to launch new and innovative products is expected to drive the green tea market in the coming years. Furthermore, strategic initiatives undertaken by the major market players will surge the growth of the market.
Segmentation
The global green tea market has been segmented based on form, category, distribution channel, and region.
By form, the global green tea market has been classified as powder, tea bags, loose-leaf, and others. The tea bag segment held a significant market share in the global green tea market, and the same segment is expected to be the fastest-growing segment.
Based on category, the global green tea market has been bifurcated into organic and conventional. The conventional segment holds a larger market share in the global green tea market. However, the organic segment is expected to register the higher CAGR during the review period.
The North American green tea market has further been segmented into the US, Canada, and Mexico. The European green tea market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The green tea market in Asia-Pacific has been segmented into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The green tea market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Key Players
Arizona Beverages USA (US), Tata Global Beverages Limited (India), The Republic of Tea (US), Unilever PLC (UK), East West Tea Company, LLC (US), The Bigelow Tea Company (US), Numi, Inc. (US), Starbucks Corporation (US), Organic India (India), Associated British Foods plc (UK), Mekor Corporation (US), Koninklijke DSM N.V. (the Netherlands), Cape Natural Tea Products Pty Ltd (South Africa), Celestial Seasonings (US), and Hankook Tea USA, Inc. (US) are some of the key players in the global green tea market.
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Regional Market
Asia-Pacific accounted for the largest market share in 2018. The region’s dominance and growth can be attributed to the increasing consumption of healthy food and beverages among health-conscious people. North America is expected to be the fastest-growing region in the green tea market. The rise in consumer awareness regarding the benefits associated with green tea is majorly driving the growth of green tea market in this region. Lower acidity and more antioxidants in green tea have a positive effect on health, which, in turn, is expected to drive the market growth.
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