Press release
Green Tea Market Report 2024: Strategies And Recent Developments | Unilever Group, Associated British Foods plc, Ito En Ltd., Bombay Burmah Trading Corporation Limited
Green Tea Market Size
The Business Research Company offers in-depth market insights through Green Tea Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The green tea market size has grown strongly in recent years. It will grow from $16.14 billion in 2023 to $17.6 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increased awareness of the health benefits, globalization, high prevalence of lifestyle related health conditions, tea plantation expansions, growing adoption of green tea.
The green tea market size is expected to see strong growth in the next few years. It will grow to $23.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to e-commerce growth, consumer preference for sustainability, rising tea tourism, increasing demand from an aging population, supportive government initiatives. Major trends in the forecast period include functional green teas, premiumization, convenience and ready-to-drink, fusion flavors, clean label products.
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Market Segmentation:
The green tea market covered in this report is segmented -
1) By Type: Green Tea Bags, Green Tea Instant Mixes, Iced Green Tea, Loose Leaf, Capsules, Other Type
2) By Category: Organic, Conventional
3) By Flavored: Flavored, Unflavored
4) By Distribution Channel: Supermarkets And Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, Other Distribution Channel
Major Driver - Consumers Shift Toward Healthy Food Choices Is Anticipated To Fuel The Green Tea Market
The consumer's shift toward healthy food choices is anticipated to fuel the green tea market. Healthy food choices refer to the selection and consumption of foods that contribute to overall well-being, support good health, and provide essential nutrients needed for optimal bodily functions. Green tea is a beverage or dietary supplemen*t that has the potential to enhance mental alertness, alleviate digestive discomfort and headaches, and aid in weight loss. For instance, in May 2022, according to the International Food Information Council, a US-based non-profit organization supported by the food, beverage, and agricultural industries, around 52% of Americans followed a diet or eating pattern including clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based (12%) in 2022, a significant increase from 39% in 2021. Therefore, the consumer's shift toward healthy food choices is driving the green tea market.
Competitive Landscape:
Major companies operating in the green tea market report are Unilever Group, Associated British Foods plc, Ito En Ltd., Bombay Burmah Trading Corporation Limited, Kirin Beverage Company, Tata Consumer Product Limited, Twinings, Bigelow Tea, The Bigelow Tea Company, Pukka Herbs, Dilmah Ceylon Tea Company PLC, Yogi Tea, Organic India, Vahdam Teas, Celestial Seasonings, Republic of Tea, Mighty Leaf Tea, Tetley, Shangri-la Tea, Stash Tea
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Top Trend - Plant-Based And Vegan Products For Healthier Alternatives
Major companies in the green tea market are focused on developing plant-based and vegan products, such as plant-based energy drinks, for healthier alternatives and maximizing their profits in the market. A plant-based energy drink is a beverage derived from botanical sources, providing a natural and sustainable alternative to traditional energy drinks and often containing plant extracts and functional ingredients such as green tea. For instance, in April 2021, ITO EN Ltd., a US-based provider of non-alcoholic beverages and tea-related products, launched the matcha LOVE ENERGY +, a plant-based energy drink. The new line features green tea and matcha blends with functional ingredients aimed at benefiting the body and mind, offering varieties such as soothing, immunity, and focus. Each variant contains 50 mg of natural caffeine, catechin antioxidants, vitamin C, and L-theanine for a gentle energy boost and mental clarity. The drinks, packaged in colorful, recyclable 8.2-ounce steel cans, provide a clean and natural energy option with functional benefits.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Green Tea Market Characteristics
3. Green Tea Market Trends And Strategies
4. Green Tea Market - Macro Economic Scenario
5. Green Tea Market Size And Growth
…..
27. Green Tea Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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