The green tea market in APAC was valued at US$ 8,710.7 million in 2018 and is projected to reach US$ 14,568.7 million by 2027; it is expected to grow at a CAGR of 5.9% during 2019–2027.
Green tea is prepared from the Camellia sinensis present is plants. The leaf buds and dried leaves of the Camellia sinensis plant are used in the preparation of the green tea. It is prepared by pan-frying and steaming of these leaves followed by drying. Green tea is known to be beneficial against various health issues including depression and various types of cancers, such as lung, liver, colon, and gastric cancers. Some of the scientific studies have proven that the consumption of green tea can enhance the thinking ability and helps lowering cholesterol and triglycerides contents in the human body. Consumers in developed and developing nations have become health cautious these days. Green tea is made from leaves and buds of Camellia sinensis, and it does not involve the process of withering and oxidation. Moreover, the consumption of green tea is known to prevent liver cirrhosis, obesity, blood pressure, and many other chronic diseases. The combination of green tea and lemon offers numerous health benefits as it has several anti-inflammatory and anti-microbial properties. The demand for unique flavored, rich aroma, and taste in green tea products is driving the growth of the green tea market. As the green tea is made by selective collection of the new buds and leaves of tea plant, it is quite expensive compared to normal tea. Green tea leaves are not fermented and therefore do not undergo the process of oxidation as in the case of black tea. The key players in the green tea market are experimenting with unique flavors and aromas to introduce it in the market. As the options for flavor and aroma increase, the consumers may adopt green tea products as their daily health diet. At present, the RTD (Ready-To- Drink) green tea beverage consumption is increasing with the rise in disposable income and increasing buying power of consumers. Millennial are looking forward to adopting high-end and super-premium products, which is helping in the growth of premium RTD green tea products.
Based on type, the green tea market in APAC is segmented into green tea bags, green tea instant mixes, iced green tea, loose leaf, and others. Owing to the multiple health benefits of green tea, the green tea bag segment dominated the green tea market in APAC. A tea bag is a thin porous bag, filled with tea leaves, was discovered in 1904. The green tea bags can be wide opened thus allowing the full-leaf tea to be filled by the tea brewer or the consumers. The green tea bags are generally made of filter paper, food-grade plastic, or silk cotton. The instant tea was invented in late1930s but not sold until the late 1950s. The instant green tea became popular with the introduction of innovative products in the market. Once the tea is brewed and liquefied, it is then concentrated and dried into powder form. The amount of nutrients present in the instant mix is same as the brewed green tea. An instant green tea mix dissolves quickly in the liquid medium and does not leave any residue. Iced green tea offers cool refreshment during summer, along with certain health benefits. Unflavored iced green tea contains zero calories; however, sweetened version usually has fewer calories compared to soft drinks or juices. Once the leaf tea is soaked in liquid medium, the tea leaves have room to absorb ample water and expand as they infuse it. This allows the liquid to flow through the leaves and extract a wide range of vitamins, minerals, flavors, and aromas. Capsules or the dietary supplement present in the green tea offers various health benefits to the consumers. The power of green tea to enhance the overall health has been respected by Asian cultures since a very long time.
Based on country, the green tea market in APAC is segmented into Japan, India, China, South Korea, and Rest of APAC. APAC is the largest producer of green tea. China holds the largest share in the green tea market of APAC, and the green tea market in Japan is expected to grow at a faster pace during the forecast period. The upsurge in the middle-class population, along with rapid urbanization in developed and developing countries in the APAC are offering ample opportunities for the key market players in the green tea market. There is an increasing trend for health consciousness among people, particularly millennial, to opt for green tea instead of carbonated beverages. The increase in demand for green tea is due to the health benefits offered by green tea coupled with rising awareness about the herbal ingredients present in green tea products. Countries such as China and India are among the top producers of green tea in APAC and are able to meet the growing demand by exporting the tea products across the world.
Finlays , Kirin Holdings Company, Associated British Foods plc, Nestle, Hankook Tea, ITO EN, Tata Global Beverages, and Unilever are among the key players present in the green tea market in APAC.
The overall size of the green tea market in APAC has been derived using primary and secondary sources. The research process begins with extensive secondary research using internal and external sources to obtain qualitative and quantitative information related to the green tea market in APAC. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate and analyze the data. The participants who take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specialized in the green tea market of APAC.