Global Tea Market Research Report: Information by Type (Green Tea, Black Tea, Oolong Tea, Herbal Tea, and Others), Form (Loose Leaf, Tea Bags, and Others), Category (Organic and Conventional), Distribution Channel (Store-Based and Non-Store-Based), and Region (North America [US, Canada, and Mexico], Europe [Germany, UK, France, Spain, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, Australia & New Zealand, and Rest of Asia-Pacific], and Rest of the World [Middle East, Africa, and South America])?Forecast till 2025
Tea is a globally popular beverage prepared by pouring hot or boiling water over the cured leaves of Camellia sinensis. The cultivation of tea is concentrated in China, India, Kenya, and Sri Lanka. Black, white, green, and oolong are some of the popular varieties of tea available in the market, which are obtained through different processing methods. The global tea market is projected to register a 4.47% CAGR to reach USD 22,669.8 million by 2025 . The global market is expected to grow at a moderate pace during the forecast period. The health benefits associated with the consumption of tea are driving the growth of the market. Additionally, the increasing demand for herbal and flavored tea is significantly contributing to the growth of the market. However, the rising consumption of other beverages such as coffee may affect the growth of the market. The launch of innovative products offers players in the global tea market lucrative growth opportunities.
The tea market has been segmented based on type, form, category, distribution channel, and region. Based on type, the global tea market has been divided into green tea, black tea, oolong tea, herbal tea, and others. By form, the global tea market has been classified as loose leaf, tea bags, and others. On the basis of category, the global tea market has been segmented into organic and conventional. By distribution channel, the market has been categorized as store-based and non-store-based. The store-based segment has further been segregated into supermarkets & hypermarkets, convenience stores, and others.
Geographically, the global tea market has been divided into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific dominated the global tea market in 2018 and is expected to maintain its dominance during the forecast period. Tea is traditionally a preferred beverage in Asia with the highest production derived from the region. The major tea-producing countries in Asia-Pacific include China, India, Sri Lanka, Vietnam, Indonesia, Myanmar, and Bangladesh. China is the largest producer and consumer of tea in the world, followed by India. The North American tea market is expected to register the highest CAGR of 4.87% during the forecast period of 2019 to 2025. The US is a major market for tea followed by Canada. The US is the third-largest importer of tea in the world to fulfill the increasing demand. Rising health consciousness has led to a growth in the consumption of health-promoting tea over other beverages.
Tata Global Beverages Limited (India), Unilever PLC (UK), Associated British Foods PLC (UK), Barry’s Tea (Ireland), Apeejay Surrendra Group (India), Bettys & Taylors Group Ltd. (UK), McLeod Russel India Ltd. (India), Ito En, Ltd. (Japan), Davids Tea Inc. (Canada), and Tea Fort? Inc. (US) are the major companies in the market that compete based on market presence, product quality, and product price.