According to the latest report by IMARC Group, titled "Tea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global tea market reached a value of US$ 22 Billion in 2021. Tea, generally prepared from the leaves of the Camellia sinensis plant, is currently represented as the most consumed beverage in the world. It is an aromatic drink that is prepared by pouring boiling or hot water over fresh or cured tea leaves. It is a rich source of antioxidants that helps in preventing heart diseases and cancer. Additionally, it contains phytochemicals that aid in boosting immunity, regulating hormones and reducing inflammation. Apart from this, it also contains other essential nutrients, including manganese, potassium, calcium and magnesium, that helps in controlling cholesterol levels, due to which it is gaining widespread prominence among the masses.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Tea Market Trends:
The global market is primarily driven by the rising demand for healthy beverages among the masses. This is supported by the increasing health consciousness among individuals. Coupled with the growing awareness regarding the health benefits of green and oolong tea and the increasing preference for leading a healthy lifestyle, this is providing a boost to the market growth across the globe. Furthermore, the widespread adoption of the product in the formulation of multiple personal and skincare care products is acting as a major growth-inducing factor. Along with this, leading players are heavily investing in launching varied flavors of tea, including ginger, mint, hibiscus and lemon, which is gaining prominence among the masses. Additionally, the numerous initiatives undertaken by the governments of several countries for providing financial assistance and associated incentives to tea farmers are also influencing the market growth. Other factors, including continuous product innovations, premiumization of tea and the easy product availability through online and offline organized distribution channels, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 5.6% during 2022-2027.
- On the basis of the product type, the market has been segmented into green tea, black tea, oolong tea and others. Among these, black tea accounts for the largest market share.
- Based on the packaging, the market has been categorized into plastic containers, loose tea, paper boards, aluminium tin, tea bags and others. Currently, paper boards represent the largest market segment.
- On the basis of the distribution channel, the market has been segregated into supermarkets/hypermarkets, specialty stores, convenience stores, online and others. Among these, supermarkets/hypermarkets exhibit a clear dominance in the market.
- Based on the application, the market has been bifurcated into residential and commercial. Presently, the residential sector represents the dominant market share.
- On the basis of the regional insights, the market has been divided into China, India, Kenya, Sri Lanka, Turkey, Vietnam and others. Among these, China holds the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Tata Consumer Products Limited, Unilever, Associated British Foods Plc., Taetea and Barry's Tea.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St Ste R
Sheridan, WY 82801 USA - Wyoming
Tel No:(D) +91 120 433 0800
Americas: - +1 631 791 1145 | Africa and Europe: - +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800