Press release
Tea market will Predicted to Grow at a 5.0% CAGR(2029)During Forecast Period 2023-2033
This global market is anticipated to grow at a CAGR of 5.0% from 2017 to 2024, reaching a value of US$ 21,329.7 Mn. Revenue from the black tea category is anticipated to dominate other type segments in the global tea market, with a CAGR of 5.1%. (2016-2024). Over the projected period, this category is anticipated to maintain its dominance and account for 42.5% of value share.
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The introduction of new tea flavours like lemon flavour, mint flavour share, chocolate flavour, and others is predicted to have a robust rise in this worldwide market during the forecast period due to the increased popularity of diverse flavours in the tea market and growing consumer base.
The availability of a large variety of flavoured teas on a global scale has led to an expanding consumer base, which is anticipated to drive market expansion over the forecast period.
While a cup of tea has many positive health impacts, excessive tea drinking might have some unfavourable side effects. A cup of tea has 14 to 60 milligrammes of synthetic caffeine, which is less than a cup of coffee, according to study.
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Market Segmentation : Tea market
Key Segments Covered :
Tea market By Type : Black Tea, Green Tea, Oolong Tea, Herbal Tea, Others
Tea market By Distribution Channel : Hyper/Super Market, Convenience Stores, Retail Stores, Online Stores, Others
Key Regions Covered : North America, Europe, Asia Pacific, Middle East & Africa, Latin America
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Competitive Dashboard:
The global dairy products market is largely characterized by a huge number of regional companies. An approximate share of 45% to 50% is held by companies with a regional presence. Key manufacturers offer targeted product offerings, especially towards manufacturers operating in the food and beverage industry. Additionally, players are also offering yogurt, milk, for use in bakery & confectionery, meat analogues, RTE foods, convenience foods and others.
Dairygold has invested in advanced, collaborative research and innovation, including with the Dairy Processing Technology Center (DPTC) and Food for Health Ireland (FHI). The company's R&D team has established significant connections with a broad network of external academic institutions and government agencies, along with a customer-centric approach.
In January 2022, Kraft Heinz has successfully acquired Just Spices (based in Germany). Through this acquisition, the company focuses on increasing its business and international growth. Just Spice's creative products expanded the Kraft Heinz portfolio.
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About Food & Beverage Division at Persistence Market Research
The Food & Beverage team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfil the unique business intelligence needs of clients worldwide. With a catalogue of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
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