Green Tea Market to Reach $29.3 Billion by 2030, Driven by Health-Conscious Consumers and Growing Awareness of Health Benefits

According to a new report published by Allied Market Research, titled, "Green Tea Market," The green tea market was valued at $14.8 billion in 2021, and is estimated to reach $29.3 billion by 2030, growing at a CAGR of 8.04% from 2022 to 2030.

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The green tea market has experienced significant growth in recent years, driven by the increasing consumer preference for healthy, organic, and plant-based beverages. Green tea, made from the dried leaves of the Camellia Sinensis plant, originated in China and has gained popularity worldwide due to its numerous health benefits, including weight management, detoxification, and cardiovascular health.

Matcha green tea, in particular, has become increasingly popular among millennials. Unlike conventional green tea, matcha is made by crushing the whole tea leaves into a fine powder, resulting in a more concentrated flavor and higher nutrient content. Major brands like Lipton and Tetley are capitalizing on this trend by offering a variety of green tea options to cater to consumer preferences.

The rising demand for health-boosting beverages, coupled with growing awareness of the health benefits of green tea, is driving market growth. Consumers are increasingly seeking out beverages like green tea to support their healthy lifestyle choices and reduce the risk of lifestyle-related health conditions such as obesity and high blood pressure.

However, one of the challenges facing the green tea market is the relatively high cost of green tea compared to other teas in the market. This factor may hinder market growth, particularly in price-sensitive consumer segments.

To meet the growing demand for high-nutrition beverages, major players in the green tea market are focusing on new product development. Flavored and unflavored varieties, as well as different forms such as tea bags, loose leaves, and instant mixes, are being introduced to cater to diverse consumer preferences.

The global green tea market is segmented based on type, form, distribution channel, and region. Flavored and unflavored varieties are available in various forms such as tea bags, loose leaves, and instant mixes, and are distributed through supermarkets/hypermarkets, convenience stores/specialty stores, and online channels.

Major players in the green tea market include Unilever Plc., Tata Consumer Products Ltd., Typhoo Tea, Associated British Foods Plc., The Bigelow Tea Company, Tazo Tea Company, Numi Organic Tea, The Republic of Tea, Inc., East West Tea Company LLC., and Northern Tea Merchants Ltd.

The green tea market is expected to continue growing as consumers prioritize health and wellness, driving demand for nutritious and convenient beverage options like green tea. Despite challenges such as cost constraints, the market is poised for further expansion, particularly in regions like Asia-Pacific where disposable incomes are rising and urbanization is increasing.

The global green tea market has been experiencing significant growth in recent years, driven by various factors such as increasing consumer awareness of health benefits associated with green tea consumption, growing preference for natural and organic beverages, and rising demand for functional drinks. Green tea, derived from the Camellia sinensis plant, is known for its antioxidants and various health-promoting properties.

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Market Overview:

- The global green tea market has witnessed substantial growth and is expected to continue expanding at a healthy rate.

- Major market players include Unilever, Tata Consumer Products Ltd., Associated British Foods Plc., Typhoo Tea, The Bigelow Tea Company, and Tazo Tea Company, among others.

- The market is characterized by a wide range of products, including flavored and unflavored green teas, packaged in various forms such as tea bags, loose leaves, and instant mixes.

- Distribution channels for green tea products include supermarkets/hypermarkets, convenience stores, specialty stores, and online platforms.

Market Drivers:

Health Awareness: Increasing awareness of the health benefits of green tea, including its antioxidant properties, weight management benefits, and potential cardiovascular health benefits, is driving consumer demand.

Rising Demand for Natural and Functional Beverages: Consumers are increasingly seeking natural and functional beverages as part of their healthy lifestyle choices, boosting the demand for green tea products.

Innovation in Product Offerings: Manufacturers are introducing innovative green tea products, such as flavored varieties and ready-to-drink options, to cater to evolving consumer preferences and expand their market presence.

Growing Market Penetration: Green tea consumption is expanding beyond traditional markets, with emerging economies in Asia-Pacific and Latin America showing increasing demand for green tea products.

Challenges:

Price Sensitivity: Green tea products often command a premium price compared to conventional teas, which may limit adoption among price-sensitive consumers, particularly in developing regions.

Competition from Other Beverages: Green tea faces competition from other beverages such as herbal teas, fruit-infused drinks, and functional beverages, which may impact market growth.

Supply Chain Disruptions: Factors such as weather conditions, natural disasters, and supply chain disruptions can affect the availability and pricing of green tea raw materials, impacting market dynamics.

Market Opportunities:

Product Innovation: There are opportunities for manufacturers to innovate and differentiate their green tea products through unique flavors, formulations, and packaging formats to attract consumers.

Expansion in Emerging Markets: Emerging economies offer significant growth opportunities for green tea market players due to increasing urbanization, rising disposable incomes, and growing consumer awareness of health and wellness trends.

E-commerce Growth: The growth of e-commerce platforms provides an additional avenue for green tea brands to reach consumers directly and expand their market presence, particularly in regions with a high internet penetration rate.

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Key Findings of the Study

By type, the flavored green tea sub-segment is predicted to have a dominating market share in the global market during the forecast period.

By form, the green tea bags sub-segment is predicted to have the highest market share in the global market during the forecast period.

By distribution channel, the supermarket/hypermarket sub-segment is predicted to have a dominating market share in the global market.

By region, Asia-Pacific dominated the global market in 2021 and is projected to remain the fastest-growing sub-segment during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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