Tea Market worth US$ 109.75 billion by 2030 with a CAGR of 6.6 % during the forecast period

Published Date: March 2024

Tea market accounted for US$ 58.5 billion in 2020 and is projected to register a moderate CAGR of 6.6% over the forecast period. Tea is a fragrant drink made from the Camellia Sinensis plant. It is one of the world's most popular beverages. The most popular teas are black and green, with herbal tea gaining popularity. Tea is a healthy beverage since it contains various powerful antioxidants and minerals, including potassium, manganese, magnesium, and calcium. Regular tea helps minimize cell damage caused by free radicals, lower cholesterol levels, and promote healthy weight loss.

The report  "Tea Market, By Product Type (Black Tea, Green Tea, Fermented Tea, Herbal Tea, and Others), By Distribution Channel (Hypermarket/Supermarket, Specialist Retailers, Convenience Stores, Foodservice Channels, and Others), and Region - Global Forecast to 2030’’. 

Key Highlights:

  • In 2021, Society Tea intended to nearly double the share of value-added and specialty teas in its total sales due to introducing new products in the category and expanding its footprint into additional geographies.
  • D'Amazonia will release its inaugural Better Sleep Tea in February 2022. When it comes to perceived discernment and creativity, many teas have spent the last few years playing second fiddle to coffee. Unlike coffee, which has a plethora of range expansions based on anything from component provenance and mixes indulgence to caffeine levels, drinking formats, and usage circumstances, tea has primarily followed a more tranquil route, with few real innovation highlights outside of matcha and green tea.

Analyst View:

The Tea Market is growing due to rising demand for composites, which help to improve the strength and stiffness of structural components such as nacelles and blades. Furthermore, these composites provide longer and lighter edges, resulting in higher blade performance, projected to move the target market forward. Moreover, the target market is developing due to increasing demand for wind turbine composites from industrialists and operators. Again, the rising need for renewable energy as traditional energy sources become scarce is raising the demand for worldwide wind turbine composites.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Tea Market, By Product Type (Black Tea, Green Tea, Fermented Tea, Herbal Tea, and Others), By Distribution Channel (Hypermarket/Supermarket, Specialist Retailers, Convenience Stores, Foodservice Channels, and Others), and Region - Global Forecast to 2030.”

Key Market Insights from the report:

The tea market accounted for US$ 58.5 billion in 2020 and is projected to register a moderate CAGR of 6.6% over the forecast period. The market report has been segmented based on product type, distribution channel, and region.

  • By product, the tea market is bifurcated into black tea, green tea, fermented tea, herbal tea, and others.
  • Distribution channels bifurcate the tea market into hypermarkets/supermarkets, specialist retailers, convenience stores, food service channels, and others.
  • By region, the Asia Pacific tea market is expected to account for a significant share in terms of revenue in the tea market over the forecast period, followed by other regions. Tea has excellent anti-aging properties, increasing demand for tea in countries such as India and China. This can be attributed to rising awareness regarding the health benefits of tea among individuals.

Competitive Landscape & their strategies of Tea Market:

The prominent player operating in the tea market includes Starbucks Corporation, Twining Crosfield and Company Ltd, Tata Global Beverages Limited, Unilever PLC, Orientis Gourmet SAS, Unilever Overseas Holdings Limited, Associated British Foods Plc, Wissotzky Tea (Israel) Ltd., Starbucks Corporation, and Nestlé S.A.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends, which will help companies enlarge their businesses and promote financial growth. Furthermore, the report exhibits dynamic factors, including segments, sub-segments, regional marketplaces, competition, dominant vital players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships, along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

  • Explains an overview of the product portfolio, including product development, planning, and positioning
  • Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
  • Detailed analysis of the market revenue over the forecasted period.
  • Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
  • Study on the segments that are anticipated to dominate the market.
  • Study on the regional analysis that is expected to register the highest growth over the forecast period

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