Press release
Tea Market 2023: Outlook, Growth Rate, Demand Factor, And Forecast To 2032 | Barry's Tea Limited, ITO En Ltd., Nestle S.A, TATA Global Beverages, The Republic of Tea Inc., Unilever Group, Taetea Group
Tea Global Market
Tea Market Size, Growth Rate, And Forecast
The global tea market size is expected to grow from $50.15 billion in 2022 to $53.59 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global tea market size is expected to reach $65.87 billion in 2027 at a CAGR of 5.3%.
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Tea Market Drivers
The growing demand for herbal tea is expected to propel the growth of the tea market going forward. Herbal tea refers to a tea with dried herbs and spices that often has no caffeine. It is a beverage created by steeping several plants' leaves. Herbal tea is a type of tea whose benefits include lowered inflammation, lowered stress levels, support for the immune system, and more; it supplements a healthy eating regimen.
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Tea Market Segments
1) By Type: Green Tea, Black Tea, Oolong Tea, Fruit Or Herbal Tea, Other Types
2) By Packaging: Plastic Containers, Loose Tea, Paper Boards, Aluminium Tins, Tea Bags
3) By Distribution Channel: Super Markets Or Hyper Markets, Special Stores, Convenience Stores, Online Stores, Other Distribution Channels
4) By Application: Residential, Commercial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Tea market.
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Tea Market Key Players
Major competitors in the Tea market include Barry's Tea Limited, ITO En Ltd., Nestle S.A, TATA Global Beverages, The Republic of Tea Inc., Unilever Group, Taetea Group, Mcleod Russel India Ltd., Hain Celestial Group Inc.
The Table Of Content For The Tea Market Include:
1. Executive Summary
2. Tea Market Characteristics
3. Tea Market Trends And Strategies
4. Tea Market - Macro Economic Scenario
5. Tea Market Size And Growth
……
27. Tea Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Tea Market
29. Tea Market Future Outlook and Potential Analysis
30. Appendix
The Business Research Company's "Global Tea Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
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