ID: MRFR/F-B & N/2554-HCR | February 2021 | Region: Global | 110 pages
Market Scenario The global Oolong Tea Market is expected to garner a revenue of USD 463.86 Million by 2027, with a CAGR of approximately 4.20% during the forecast period, 2020–2027. Oolong tea is a type of tea that originated in China. It is a semi-oxidized tea prepared from the leaves of the Camellia sinensis plant. It offers qualities of both black tea and green tea, thus emerging as a beneficial functional beverage. The growth of global oolong tea market is primarily driven by the changing consumer preference for healthy and functional food and beverages and rising health concerns. Oolong tea is also used in various nutraceutical products due to its health benefits obtained through various antioxidants present in it such as theaflavins, thearubigins, and EGCG, along with an amino acid theanine. Consumption of oolong tea aids in the prevention of diabetes, improve cardiac health, weight management, enhance neural and brain function, strengthen teeth and bones, relive eczema, and others. However, the market is witnessing hurdles in its growth due to the regional availability of oolong tea, leading to the high dependence of various country-level markets on imports. Moreover, the lack of awareness regarding the benefits of oolong tea consumption in various developing and least developed countries is also hampering the growth of the oolong tea industry. Market players are focusing on introducing new and innovative oolong tea flavors to attain a larger customer base and retain the existing customer base by catering to their changing preferences.
The global oolong tea market has been segmented based on form, flavor, distribution channel, and region. By form, the global market has been classified into loose-leaf, powder, tea bag, and others. The global market has also been divided, based on flavor, into flavored and plain. Based on distribution channel, the market is bifurcated into, store-based and non-store-based. The store-based segment is further segmented into supermarkets & hypermarkets, convenience stores, and others. The global market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world. The North American oolong tea market has further been segmented into the US, Canada, and Mexico. The European oolong tea market has been classified as the UK, Germany, France, Italy, Spain, and the rest of Europe. The oolong tea industry in Asia-Pacific has been segmented into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The oolong tea market in the rest of the world has been segmented into South America, the Middle East, and Africa.
ESP Tea Emporium (US), The Republic of Tea (US), Harney & Sons (US), Associated British Foods (UK), The Mighty Leaf Tea Company (US), Tata Global Beverages Limited (India), Unilever (UK), Hain Celestial (US), ITO EN (Japan), Bigelow Tea Company (US), Ceylon Organic Ltd (Canada), Teas and Thes (China) Ltd (China), and Arbor Teas (US) are some of the key players in the global oolong tea market.
Regional Market Summary
Asia-Pacific is expected to dominate the global oolong tea market throughout the review period owing to the high production and consumption of oolong tea in Japan, China, and India. China accounts for nearly one-third of the world’s tea consumption. However, there is a growing demand for natural food products and beverages in the developed nations in North America and Europe. The oolong tea market in North America is expected to register the highest CAGR during the forecast period. Countries such as Australia, France, Canada, the US, and Saudi Arabia are the major importing markets of oolong tea.
Global Market, by Form
Frequently Asked Questions (FAQ) :
Oolong tea market is projected to grow at a 4.2% CAGR between 2019- 2024.
The Asia Pacific is expected to dominate the oolong tea market.
Oolong tea market is predicted to touch USD 410 million by 2024.
Regional availability and lack of awareness about the benefits of oolong tea may limit the oolong tea market growth.
Notable players profiled in the oolong tea market include Arbor Teas (US), Teas and Thes (China) Ltd (China), Ceylon Organic Ltd (Canada), Bigelow Tea Company (US), ITO EN (Japan), Hain Celestial (US), Unilever (UK), Tata Global Beverages Limited (India), The Mighty Leaf Tea Company (US), Associated British Foods (UK), Harney & Sons (US), The Republic of Tea (US), and ESP Tea Emporium (US).