Tea Market: Steeping Trends in the Worldwide Tea Industry (2023-2029)

Tea Market Surges to Record High, Projected to Reach US$104.52 Billion by 2029

In a remarkable trajectory, the Global Tea Market witnessed substantial growth, reaching a valuation of US$66.82 billion in 2022, with a projected CAGR of 6.6% expected to propel it to nearly US$104.52 billion by 2029.

Tea Market Dynamics:

Despite challenges such as a rise in coffee consumption and fluctuating raw material prices due to unexpected weather conditions, the tea market is anticipated to thrive. The introduction of new flavors and varieties, coupled with a rising demand for herbal tea, is expected to counterbalance these challenges.

Organic tea's growing popularity is identified as a key driver, prompting manufacturers to invest in research and development to enhance product quality and flavor. For instance, Green Hills introduced Rum and Honey Flavored Herbal Tea, targeting consumers seeking low-sugar beverages.

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Tea Market Scope:

Maximize Market Research's Tea Market Report provides a comprehensive analysis of the market, using a dynamic research methodology. The report covers major growth drivers, market dynamics, challenges, and scope, as well as PESTLE, Porter, and SWOT analyses. It also includes information on the latest developments and technologies in the global Tea market.

The report provides detailed information on the global Tea market, including market shares, supply chain analysis, and key success factors. It also includes the opinions of industry experts from top leading organizations in the global Tea market.

Segmentation Analysis:

by Product

Black
Green
Oolong
Herbal

The market is divided into Black, Green, Oolong, and Herbal segments based on the product. By 2027, the Black Tea segment is anticipated to command the highest market shares at 42.5%. This is because there are more people drinking tea globally.

Because black tea has a high concentration of antioxidants and polyphenols, it is also a popular choice among health enthusiasts. Black tea extract contains the following nutrients: vitamin C, zinc, iron, magnesium, copper, manganese, potassium, fluoride, and calcium. Black tea extract has higher antioxidant content and anti-allergic, anti-viral, and anti-spasmodic properties than green tea.

by Application

Residential
Commercial

The market is divided into three segments based on the applications: online, specialty stores, supermarkets and hypermarkets. Over the course of the forecast period, the online distribution channel segment is anticipated to grow quickly at a CAGR of 5.9%.

The introduction of online apps, coupled with the availability of sales and prompt product delivery, has a positive effect on the supply chain of the market. For instance, stores like Big Basket and Walmart, among others, provide a wide range of flavoured teas and the option for both online and offline delivery. Throughout the forecast period, these are the main factors propelling this segment's growth in the worldwide market.

by Distribution Channel

Supermarkets & Hypermarkets
Specialty Stores
Online

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Key Players are:

1. TATA GLOBAL BEVERAGES LIMITED
2. UNILEVER PLC
3. ASSOCIATED BRITISH FOODS PLC
4. BARRY'S TEA
5. APEEJAY SURRENDRA GROUP
6. BETTYS & TAYLORS GROUP LTD.
7. MCLEOD RUSSEL INDIA LTD
8. ITO EN, LTD
9. DAVIDS TEA INC.
10.TEA FORTÉ INC.
11.Barry's Tea
12.R Twining and Company Limited
13.Hain Celestial Group Inc.
14.Nestle SA
15.Orientis Group (Kusmi Tea)
16.The Republic of Tea
17.Tazo Tea Company
18.Numi Inc.
19.Apeejay Surrendra Group
20.Mighty Leaf Tea Company
21.Bettys & Taylors Group Ltd.
22.cLeod Russel

Regional Analysis

The report provides the statistical market growth data for every influencing economy in the global Tea market. The various countries like North America, Asia-Pacific, Europe, Latin America, and MEA are considered while preparing report. All the emerging trends with population growth along with government strategies and regulations are covered in the report. The final conclusion part of regional insights consists, of all economies' in the market influencing data in the form of historical as well as forecasted period.

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Key Questions answered in the Tea Market Report are:

What is the forecast period of the Tea Market?
What is the competitive scenario of the Tea market?
Which region held the largest market share in the Tea Market?
What are the opportunities for the Tea Market?
What are the restraining factors in the Tea market?
Who are the key players of the Tea market?
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