The global tea market reached a volume of 6.2 Million Tons in 2018, registering a CAGR of 5.63% during 2011-2018. The market is further projected to reach a volume of 7.58 Million Tons by 2024. 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:
The tea market has been segmented on the basis of type which include black tea, green tea, oolong tea and fruit/herbal 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.
Key Questions Answered in This Report:
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