According to the latest report by IMARC Group, titled “Green Tea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global green tea market size reached US$ 17.4 Billion in 2018. Green tea refers to the leaves of the Camellia sinensis plant which have not undergone the oxidation process. Originating in China, the production of green tea has spread to parts of the world including other Asian countries. There are numerous varieties of green tea currently available which are differentiated on the basis of agriculture methods, growing conditions and time of harvest. The antioxidants present in green tea aid in reducing the oxidation of bad cholesterol and elevating the levels of high-density lipoprotein, also known as good cholesterol, which improves artery functions in the human body.
Market Drivers:
Regular consumption of green tea can reduce the risk of death from cardiovascular diseases and inhibit the growth of cancer cells due to the presence of catechin, a type of natural phenol. Moreover, its intake improves the function of endothelial cells which prevent the clogging of arteries. Due to the growing awareness about health issues along with the medicinal benefits of green tea, consumers are now shifting from traditional black tea to green tea which acts as one of the major growth-inducing factors for the market. Further, powdered green tea, known as matcha, is quickly gaining popularity as it helps in losing weight and cleansing the body naturally. Additionally, the arrival of value-added products, including new and different flavors of green tea, has created great scope for manufacturers to expand their product portfolio. Besides this, the premiumization of green tea in restaurants and cafes is also creating potential growth opportunities in various parts of the world. Looking forward, the market value is anticipated to reach US$ 25.2 Billion by 2024, expanding at a CAGR of about 6% during the forecast period of 2019-2024.
Market Summary:
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