According to the latest report by IMARC Group, titled "Tea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global tea market reached a value of US$ 23.2 Billion in 2022. 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.
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 5.4% during 2023-2028.
- 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 Associated British Foods Plc, Barry's Tea, Taetea Group, Tata Consumer Products Limited (Tata Group) and Unilever.
|Base Year of the Analysis
||US$ Billion, Million Tons
||Product Type, Packaging, Distribution Channel, Application, Country
||China, India, Kenya, Sri Lanka, Turkey, Vietnam, Others
||Associated British Foods Plc, Barry's Tea, Taetea Group, Tata Consumer Products Limited (Tata Group) and Unilever
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