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The global tea market reached a value of US$ 21 Billion in 2020. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Originating in China, tea currently represents one of the widely consumed beverages in the world. It is commonly prepared by pouring hot or boiling water over cured leaves of the tea plant. The cultivation of tea requires specific soil and climatic conditions which are present in various developing nations like Kenya, China, India and Sri Lanka. Tea is a rich source of antioxidants and offers numerous health benefits such as reducing the risk of heart attack and stroke, weight loss, maintaining bone health, boosting immunity, and enhancing digestion. At present, there are numerous formats in which tea products are manufactured and sold which include loose tea, teabags, bottled and canned ice tea, ice tea powders and milk tea powders.
Global Tea Market Drivers:
Product Type Insights:
The tea market has been segmented on the basis of product type which include black tea, green tea and oolong tea. Amongst these, black tea is the most popular type of tea as it is anti-allergic, anti-viral and anti-spasmodic.
On the basis of packaging, the market has been categorised into paper boards, plastic containers, loose tea, aluminium tin and tea bags. Currently, paper boards represent the largest segment.
Distribution Channel Insights:
There are several means through which the consumers can obtain their desired tea including supermarkets/hypermarkets, specialty stores, convenience stores and online. Supermarkets/hypermarkets exhibit a clear dominance over the market as they provide a wide variety of brands and choices to the consumers.
Based on application, the market has been segregated into residential and commercial. Currently, majority of the tea is being consumed by the residential sector.
On a geographical front, China enjoys the leading position in the global tea market while holding the majority of the market share. This can be accredited to tea being an important part of the Chinese culture where it is consumed on both casual and formal instances. China is followed by India, Kenya, Sri Lanka, Turkey and Vietnam.
The market is concentrated in nature with the presence of large and small manufacturers who compete in terms of quality and prices. Some of the leading players operating in the market are:
This report provides a deep insight into the global tea market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a tea manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the tea industry in any manner.
The global tea market reached a value of US$ 21 Billion in 2020.
According to the estimates by IMARC Group, the global tea market is expected to exhibit moderate growth during the next five years.
Inflating disposable incomes and changing dietary patterns of consumers are escalating the demand for healthy and premium beverages, such as tea.
The introduction of organic variants and innovative flavors, such as mint, lemon, orange, cranberry and pomegranate, are some of the significant trends in the market.
Due to the sudden outbreak of the coronavirus disease (COVID-19), there is a rise in the demand for healthy and functional beverages like tea among individuals to improve their immune system. However, lockdowns and travel restrictions imposed by governments of several countries have resulted in supply chain disruptions and a shortage of workers at production units.
Based on the product type, the market has been classified into green, black, oolong, and other tea.
The market has been categorized on the basis of the packaging into plastic containers, loose tea, paper boards, aluminum tins, tea bags and others.
Based on the distribution channel, the market has been categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online and others.
On the basis of the application, the market has been bifurcated into the residential and commercial sectors.
Region-wise, the market has been segmented into China, India, Kenya, Sri Lanka, Turkey, Vietnam and others.
Leading industry players are Tata Consumer Products Limited, Unilever Plc, Associated British Foods Plc, Taetea Group and Barry's Tea.
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