Tea Market worth US$ 32.9 Bn by 2032, growing at a CAGR of 5.9% | Starbucks Corporation, Wissotzky Tea

Market Overview:

The global tea market was valued at US$ Mn in terms of revenue in 2020 and is predicted to grow at a CAGR of 5.0% during the forecast period (2021 to 2027).

Market Dynamics:

The global tea market is witnessing high growth owing to rising health awareness and perceived health benefits of tea. Tea is known to contain bioactive compounds like catechins, flavonoids and phenolic acids which are reported to have antioxidant and anti-inflammatory properties. Regular consumption of tea is linked to reducing risk of heart disease, cancer, diabetes and cognitive decline. Moreover, rising disposable income is also fueling the adoption of premium varieties of tea across regions. Younger population is increasingly substituting carbonated drinks and coffee with healthy beverage options like tea. E-commerce has also expanded accessible and boosted sales of specialized types of tea.

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Driver: Increasing health awareness promoting tea consumption

With growing health consciousness among consumers, the demand for healthy beverage options is increasing globally. Tea is considered one of the healthiest beverages and numerous studies have linked tea drinking to various health benefits such as reduced risk of heart disease, cancer, improved oral health etc. The rising awareness about the antioxidant and other health promoting properties of tea is a major driver for the growth of the global tea market. Younger consumers in particular are increasingly opting for tea due to its perceived health benefits over other beverages like carbonated drinks or coffee. Various tea types like green tea, oolong tea are popular for their high antioxidant content. The marketing and promotion campaigns from tea producers highlighting the health attributes of tea have raised awareness and positively impacted tea consumption around the world.

Opportunity: Shifting preferences towards specialty tea varieties

While black tea remains the dominant variety consumed globally, there is a growing consumer shift towards specialty tea categories like green, oolong, white, pu'erh teas due to their unique flavors and perceived additional health attributes. These specialty teas have gained immense popularity among younger, urban, health conscious demographics willing to pay premium prices for high quality, artisanal products. The exposure to different global tea cultures through extensive media, internet is driving experimentation with new types of specialty teas. The specialty tea segment offers immense opportunities for premiumization, value addition through novel flavors, ingredients and innovative product forms. With appropriate branding, marketing initiatives stressing on uniqueness, specialty tea varieties can gain wider consumer base thus opening up new avenues for industry expansion.

Trends: Rising popularity of tea based ready-to-drink products

One of the key trends gaining momentum globally is the soaring demand for ready-to-drink tea products. The fast paced lifestyle has increased the preference for convenient beverages that can be consumed instantly without much preparation. Tea based RTD beverages available in bottles, cans, cartons fulfil this need well and are becoming popular breakfast and snacking options. The market offerings range from traditional tea flavors to innovative varieties with added ingredients like fruits. Factors like ample shelf life, affordable prices, experimentation scope are propelling their sales. Vending machine proliferation in offices, schools are fueling RTD tea consumption. The Asian tea giants as well as mainstream players are heavily pumping investments in their RTD tea portfolios. Health and wellness trends are also giving impetus to functional RTD tea drinks fortified with herbs, vitamins. Overall, this drive towards convenience will keep bolstering the market for tea based RTD beverages globally in the years ahead.

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Top Companies Featured in This Report:

★ Starbucks Corporation
★ Wissotzky Tea
★ Associated British Foods
★ Nestle S.A.
★ Akbar Brothers Ltd.
★ Tata Global Beverages
★ The Republic of Tea
★ DAVIDs Tea

Market Segmentation:

By Product Type:

★ By Type: Black tea, Green tea, Oolong tea, Herbal tea, and Others tea.
★ By Distribution Channel: Hyper Market/ Super Market, Convenience Stores, Retail Stores, and Online Stores

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

The report offers insights on the following aspects:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Analysis of Tea Market Competition Landscape by Players

Chapter 4: Assessment of Tea Market Size by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, recent developments, and investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Tea sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

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Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

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