Worldwide Oolong Tea Market Overview, Top Manufacturers, Growth Analysis and Forecast to 2023

Market Research Future published a Half Cooked Research Report (HCRR) on Global Oolong Tea Market which is estimated to grow more than 4.5% during the period of 2017-2023

Market Overview

Increasing sale of oolong tea is driven by rising awareness among the consumers about the health benefits gained from consumption of oolong tea in its chemical-free form. High antioxidant content of oolong tea makes its application more significant in personal care products due to its anti-ageing properties. Increased nutraceutical application of tea has resulted in growth of share in the nutraceuticals industry. Increasing disposable income and economy development has influenced the consumers spending behavior leading to increased expenditure on quality products. All these factors contribute to increased market share of oolong tea globally. The consumption as well as production of oolong tea is found to be high in Asia-Pacific region and is evaluated to increase at a positive growth rate in various countries of North America and Europe.
 
Market Forecast

Globally the Oolong Tea market share as one of the fastest growing tea variety is estimated to escalate at a higher growth rate which is supported by the rising mass consumer demand for natural and healthy products. Rapid urbanization and increased disposable income has led to consumers’ inclination towards purchase of food and beverages with natural and organic ingredients which also has a positive impact on this market.

All these factors will contribute to the calculated CAGR of 4.5% of Oolong Tea market during 2017-2023.

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Downstream Analysis

Consumption of oolong tea is growing at significant rate based on the health benefits obtained from it. Oolong tea is found to be beneficial for weight management and helps in reducing the cholesterol level of the body. Oolong tea is also being used in personal care products due to its high anti-oxidant content which helps in repairing the skin tissues and imparts anti-ageing properties. Multi-purpose application of oolong tea across food industries had led to increased use of the product. Based on the form, loose leaf is anticipated to hold a major share followed by tea bags.

Application of oolong tea is found to be high in beverages whereas, the growth of nutraceuticals is escalating at a high rate owing to the functional properties of oolong tea. Based on the formulation, unflavored oolong tea dominates the market due to high consumers’ preference for food products with no artificial additives. On the basis of type of oolong tea, Fujian oolong tea dominates the market.

Competitive Analysis-

The major key players in oolong tea market are

• The Mighty Leaf Tea Company (U.S.)
• Tata Global Beverages Limited (India)
• Unilever (U.K.)
• ESP Tea Emporium (U.S.)
• The Republic of Tea (U.S.)
• Harney & Sons (U.S.)
• Associated British Foods (U.K.)

Oolong Tea manufacturers across various regions follow the strategy of improving their existing product line by adding innovations for their business expansion. Due to this the application of oolong tea is increasing across various industries. In the Asia-Pacific region, China is among the dominating countries holding a major share in oolong tea market and exports the product in various other countries which include Morocco, China, Vietnam, U.S. and others.

Regional Analysis

The Global Oolong Tea Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific holds a major market share followed by North America. High demands for healthy beverages with widespread applications from the developed countries of these regions are contributing to the positive growth of oolong tea market. U.S., Australia, Canada, France and Saudi Arabia are the major importers of oolong tea.

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Market Segmentation-

Global Oolong Tea Market is segmented by Form, Type, Formulation, Application and Region

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This release was published on openPR.