Tea Market By Type, Packaging, Application, Distribution Channel, Region, Key Players 2019-2024

Global Tea Market Research Report and Forecast 2024

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Report Description Global Tea Market Overview:

According to the recent report by IMARC Group, entitled “Tea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global tea market reached a volume of 6.2 Million Tons in 2018, exhibiting a CAGR of 5.63% during 2011-2018. Originated in China, tea refers to an aromatic beverage which is usually prepared by adding hot or boiling water over the tea leaves. Tea is mainly grown in the developing countries, such as Asia, Africa, South America, and around the Black and Caspian Seas, with favourable soil and climatic conditions. It is considered as the widely consumed beverage across the globe as it helps in digestion, improves the immunity, assists in weight loss, benefits the bone health and minimises the risk of heart attacks.

On account of escalating disposable incomes and altering tastes as well as preferences of the consumers, the demand for premium and healthy beverages like tea is proliferating worldwide.

Moreover, as consumers are becoming aware about the disadvantages of consuming carbonated drinks, they are extensively incorporating green tea in their daily beverages, in turn, contributing to the overall growth of the market. Apart from this, tea manufacturers are introducing value-added ingredients so as to target young consumers or people suffering from obesity, diabetes and other health ailments.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

In Million US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Other major factor which is catalysing the market growth is the huge popularity of tea, particularly in the developing regions like India and China. Looking forward the market volume is projected to 7.58 Million Tons by 2024, expanding at a CAGR of 3.19% during 2019-2024.

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Additionally, the manufacturers are coming up with new flavours of tea such as lemon, mint, orange, and pomegranate in order to widen their consumer-base.

For more information, click here: https://www.imarcgroup.com/tea-market Key Market Segmentation: Market Segmentation by Type • • • • •

Green Tea Black Tea Oolong Tea Fruit/Herbal Tea Others

On the basis of type, the market has been divided into green tea, black tea, oolong tea, fruit/herbal tea and others. Currently, black tea accounts for the majority of the market share due to its anti-spasmodic, anti-viral and anti-allergic properties.

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Report Description Market Segmentation by Packaging • • • • • •

Plastic Containers Loose Tea Paper Boards Aluminium Tin Tea Bags Others

Based on packaging, paper board packaging dominated the market, holding the largest share. Some of the other packaging materials include plastic containers, loose tea, aluminium tin, tea bags and others.

Market Segmentation by Distribution Channel • • • • •

Supermarket/Hypermarkets Specialty Stores Convenience Stores Online Others

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Based on distribution channel, supermarkets/hypermarkets exhibit a clear dominance in the market.

Supermarkets/hypermarkets are followed by specialty stores, convenience stores, online and others.

Market Segmentation by Application • •

Residential Commercial

The market has also divided on the basis of application into residential sector represents the largest application area followed by commercial.

Market Segmentation by Region • • • • •

China India Kenya Sri Lanka Turkey

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Report Description • •

Vietnam Others

Region-wise, the market has been segmented into China, India, Kenya, Sri Lanka, Turkey, Vietnam and Others. Amongst these, China is the biggest market, holding the majority of the market share as tea plays a vital role in the Chinese culture.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • • •

Tata Global Beverages Unilever Associated British Foods Plc. Taetea Barry's Tea

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Green Tea Market Report: https://www.imarcgroup.com/green-tea-market Instant Coffee Market Report: https://www.imarcgroup.com/instant-coffee-processing-plant

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