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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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