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Organic Tea Market Research Report - Global Forecast till 2027

Global Organic Tea Market Research Report: Information by Type (Green, Black, Others), Form (Dried Leaf, Powder, Others), Distribution Channel (Store-Based [Hypermarkets & Supermarkets, Convenience Stores, and Others] and Non-Store-Based) and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2027

ID: MRFR/F-B & N/2261-HCR | February 2021 | Region: Global | 110 pages

Please note that assessment period of report has been updated from 2019-2024 to 2020-2027. Cordially fill sample form for updated data.

 
Market Scenario
The global organic tea market is projected to reach approximately USD 1.3 billion by 2024 and register  at a significant CAGR of 5.8% during the forecast period, 2019–2024. Organic tea is cultivated without using any chemical fertilizers and pesticides through organic farming practices. The different types of organic tea available in the market include black tea and green tea, among others. They are available in different forms such as dried leaf and powder.    
 
Increasing health awareness among the consumers across the globe is resulting in an increased demand for organic products which is driving the growth of organic tea market. The various health benefits claimed by the manufacturers of organic tea attracts the consumers toward the product. Moreover, the governments and various NGOs are also promoting organic farming practices for sustainable growth, leading to an opportunistic market for organic tea manufacturers. Innovative flavors of organic tea is another factor boosting the growth of global organic tea market.
 
Segmentation
The global organic tea market has been segmented based on type, form, distribution channel, and region.
Based on type, the global organic tea market has been classified as green, black, and others. 
On the basis of form, the global organic tea market has been classified as dried leaf, powder, and others.
On the basis of distribution channel, the global organic tea market has been classified as store-based and non-store-based. The store-based segment is further sub-segmented into supermarkets and hypermarkets, convenience stores, and others.
The global organic tea market has been studied with regard to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American organic tea market has further been segmented into the US, Canada, and Mexico. The European organic tea market has been classified as Germany, France, Italy, Spain, UK, and the rest of Europe. The organic tea market in Asia-Pacific has been divided into China, India, Japan, Australia & New Zealand, and the rest of Asia-Pacific. The organic tea market in the rest of the world has been segmented into South America, the Middle East, and Africa.
 
Key Players
Tata Global Beverages Limited (India), Unilever (UK), Associated British Foods plc (UK), Vahdam Teas (India), Celestial Seasonings, Inc. (US), Bombay Burmah Trading Corporation Limited (India), Stash Tea Company (US), Bigelow Tea Company (US), Shangri-la Tea (US), Yogi Tea (US), Republic of Tea (US), Mighty Leaf Tea (US), Numi, Inc. (US), Harney & Sons Fine Teas (US), and Hälssen & Lyon GmbH (Germany) are some of the key players in the global organic tea market.
 
Regional Market Summary
North America is projected to dominate the global organic tea market in 2018 and retain its dominance throughout the forecast period. High consumption of organic tea in the US followed by continuous launch of innovative flavors by the prominent players in the US market is driving the growth of North America organic tea market. Asia-Pacific also accounts for a significant market share in the global organic tea market. Increased investment and expansion by the major key players in the emerging countries of this region are contributing to the growth of the market. High inclination towards organic products among the European population is majorly driving the organic tea market in Europe.
Global Organic Tea Market, by Type


  • Green

  • Black

  • Others


Global Organic Tea Market, by Form

  • Dried Leaf

  • Powder

  • Others


Global Organic Tea Market, by Distribution Channel

  • Store-Based

    • Supermarkets and Hypermarkets

    • Convenience Stores

    • Others





  • Non-Store-Based


Global Organic Tea Market, by Region

  • North America

    • US

    • Canada

    • Mexico





  • Europe

    • Germany

    • France

    • Italy

    • Spain

    • UK

    • Rest of Europe





  • Asia-Pacific

    • Japan

    • China

    • India

    • Australia and New Zealand

    • Rest of Asia-Pacific





  • Rest of the World (RoW)

    • South America

    • Middle East

    • Africa




Intended Audience

  • Organic Tea manufacturers

  • Tea growers

  • Dealers and distributors

  • Raw material suppliers and distributors

  • Traders, exporters, and importers



Frequently Asked Questions (FAQ) :

Organic tea market valuation would be USD 1.3 billion by 2024.

Organic tea market CAGR would be 5.8% during the forecast period.

Organic tea market players are Unilever (UK), Tata Global Beverages Limited (India), Vahdam Teas (India), Associated British Foods plc (UK), Stash Tea Company (US), Celestial Seasonings, Inc. (US), Bombay Burmah Trading Corporation Limited (India), Shangri-la Tea (US), Yogi Tea (US), Bigelow Tea Company (US), Numi, Inc. (US), Harney & Sons Fine Teas (US), Republic of Tea (US), Mighty Leaf Tea (US), and Hälssen & Lyon GmbH (Germany)

North America would dominate the global organic tea market.

The US would lead the organic tea market.

TABLE OF CONTENTS

1. 1 EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Organic Tea Market, by Type

1.1.2. Global Organic Tea Market, by Form

1.1.3. Global Organic Tea Market, by Distribution Channel

1.1.4. Global Organic Tea Market, by Region

2. MARKET INTRODUCTION

2.1. Definition

2.2. Scope of the Study

2.3. Market Structure

2.4. Key Buying Criteria

2.5. Macro Factor Indicator Analysis

3. RESEARCH METHODOLOGY

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List of Assumptions

4. MARKET DYNAMICS

4.1. Introduction

4.2. Drivers

4.3. Restraints

4.4. Opportunities

4.5. Challenges

5. MARKET FACTOR ANALYSIS

5.1. Value Chain Analysis

5.2. Supply Chain Analysis

5.3. Porter’s Five Forces Model

5.3.1. Bargaining Power of Suppliers

5.3.2. Bargaining Power of Buyers

5.3.3. Threat of New Entrants

5.3.4. Threat of Substitutes

5.3.5. Intensity of Rivalry

6. GLOBAL ORGANIC TEA MARKET, BY TYPE

6.1. Introduction

6.2. Green

6.2.1. Green: Market Estimates & Forecast, by Region/Country, 2020-2027

6.3. Black

6.3.1. Black: Market Estimates & Forecast, by Region/Country, 2020-2027

6.4. Others

6.4.1. Others: Market Estimates & Forecast, by Region/Country, 2020-2027

7. GLOBAL ORGANIC TEA MARKET, BY FORM

7.1. Introduction

7.2. Dried Leaf

7.2.1. Dried Leaf: Market Estimates & Forecast, by Region/Country, 2020-2027

7.3. Powder

7.3.1. Powder: Market Estimates & Forecast, by Region/Country, 2020-2027

7.4. Others

7.4.1. Others: Market Estimates & Forecast, by Region/Country, 2020-2027

8. GLOBAL ORGANIC TEA MARKET, BY DISTRIBUTION CHANNEL

8.1. Introduction

8.2. Store-Based

8.2.1. Store-Based: Market Estimates & Forecast, by Region/Country, 2020-2027

8.2.2. Hypermarkets & Supermarkets

8.2.2.1. Hypermarkets & Supermarkets: Market Estimates & Forecast, by Region/Country, 2020-2027

8.2.3. Convenience Stores

8.2.3.1. Convenience Stores: Market Estimates & Forecast, by Region/Country, 2020-2027

8.2.4. Others

8.2.4.1. Others: Market Estimates & Forecast, by Region/Country, 2020-2027

8.3. Non-Store-Based

8.3.1. Non-Store-Based: Market Estimates & Forecast, by Region/Country, 2020-2027

9. GLOBAL ORGANIC TEA MARKET, BY REGION

9.1. Introduction

9.2. North America

9.2.1. Market Estimates & Forecast, by Type, 2020-2027

9.2.2. Market Estimates & Forecast, by Form, 2020-2027

9.2.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.2.4. Market Estimates & Forecast, by Country, 2020-2027

9.2.5. US

9.2.5.1. Market Estimates & Forecast, by Type, 2020-2027

9.2.5.2. Market Estimates & Forecast, by Form, 2020-2027

9.2.5.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.2.6. Canada

9.2.6.1. Market Estimates & Forecast, by Type, 2020-2027

9.2.6.2. Market Estimates & Forecast, by Form, 2020-2027

9.2.6.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.2.7. Mexico

9.2.7.1. Market Estimates & Forecast, by Type, 2020-2027

9.2.7.2. Market Estimates & Forecast, by Form, 2020-2027

9.2.7.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.3. Europe

9.3.1. Market Estimates & Forecast, by Type, 2020-2027

9.3.2. Market Estimates & Forecast, by Form, 2020-2027

9.3.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.3.4. Market Estimates & Forecast, by Country, 2020-2027

9.3.5. Germany

9.3.5.1. Market Estimates & Forecast, by Type, 2020-2027

9.3.5.2. Market Estimates & Forecast, by Form, 2020-2027

9.3.5.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.3.6. UK

9.3.6.1. Market Estimates & Forecast, by Type, 2020-2027

9.3.6.2. Market Estimates & Forecast, by Form, 2020-2027

9.3.6.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.3.7. France

9.3.7.1. Market Estimates & Forecast, by Type, 2020-2027

9.3.7.2. Market Estimates & Forecast, by Form, 2020-2027

9.3.7.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.3.8. Spain

9.3.8.1. Market Estimates & Forecast, by Type, 2020-2027

9.3.8.2. Market Estimates & Forecast, by Form, 2020-2027

9.3.8.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.3.9. Italy

9.3.9.1. Market Estimates & Forecast, by Type, 2020-2027

9.3.9.2. Market Estimates & Forecast, by Form, 2020-2027

9.3.9.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.3.10. Rest of Europe

9.3.10.1. Market Estimates & Forecast, by Type, 2020-2027

9.3.10.2. Market Estimates & Forecast, by Form, 2020-2027

9.3.10.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.4. Asia-Pacific

9.4.1. Market Estimates & Forecast, by Type, 2020-2027

9.4.2. Market Estimates & Forecast, by Form, 2020-2027

9.4.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.4.4. Market Estimates & Forecast, by Country, 2020-2027

9.4.5. China

9.4.5.1. Market Estimates & Forecast, by Type, 2020-2027

9.4.5.2. Market Estimates & Forecast, by Form, 2020-2027

9.4.5.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.4.6. Japan

9.4.6.1. Market Estimates & Forecast, by Type, 2020-2027

9.4.6.2. Market Estimates & Forecast, by Form, 2020-2027

9.4.6.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.4.7. India

9.4.7.1. Market Estimates & Forecast, by Type, 2020-2027

9.4.7.2. Market Estimates & Forecast, by Form, 2020-2027

9.4.7.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.4.8. Australia & New Zealand

9.4.8.1. Market Estimates & Forecast, by Type, 2020-2027

9.4.8.2. Market Estimates & Forecast, by Form, 2020-2027

9.4.8.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.4.9. Rest of Asia-Pacific

9.4.9.1. Market Estimates & Forecast, by Type, 2020-2027

9.4.9.2. Market Estimates & Forecast, by Form, 2020-2027

9.4.9.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.5. Rest of the World

9.5.1. Market Estimates & Forecast, by Type, 2020-2027

9.5.2. Market Estimates & Forecast, by Form, 2020-2027

9.5.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.5.4. Market Estimates & Forecast, by Country, 2020-2027

9.5.5. South America

9.5.5.1. Market Estimates & Forecast, by Type, 2020-2027

9.5.5.2. Market Estimates & Forecast, by Form, 2020-2027

9.5.5.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.5.6. Middle East

9.5.6.1. Market Estimates & Forecast, by Type, 2020-2027

9.5.6.2. Market Estimates & Forecast, by Form, 2020-2027

9.5.6.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

9.5.7. Africa

9.5.7.1. Market Estimates & Forecast, by Type, 2020-2027

9.5.7.2. Market Estimates & Forecast, by Form, 2020-2027

9.5.7.3. Market Estimates & Forecast, by Distribution Channel, 2020-2027

10. COMPETITIVE LANDSCAPE

10.1. Introduction

10.2. Competitive Benchmarking

10.3. Development Share Analysis

10.4. Key Developments & Growth Strategies

11. COMPANY PROFILES

11.1. Tata Global Beverages Limited

11.1.1. Company Overview

11.1.2. Financial Overview

11.1.3. Products Offered

11.1.4. Key Developments

11.1.5. SWOT Analysis

11.1.6. Key Strategies

11.2. Unilever

11.2.1. Company Overview

11.2.2. Financial Overview

11.2.3. Products Offered

11.2.4. Key Developments

11.2.5. SWOT Analysis

11.2.6. Key Strategies

11.3. Associated British Foods plc

11.3.1. Company Overview

11.3.2. Financial Overview

11.3.3. Products Offered

11.3.4. Key Developments

11.3.5. SWOT Analysis

11.3.6. Key Strategies

11.4. Vahdam Teas

11.4.1. Company Overview

11.4.2. Financial Overview

11.4.3. Products Offered

11.4.4. Key Developments

11.4.5. SWOT Analysis

11.4.6. Key Strategies

11.5. Celestial Seasonings, Inc.

11.5.1. Company Overview

11.5.2. Financial Overview

11.5.3. Products Offered

11.5.4. Key Developments

11.5.5. SWOT Analysis

11.5.6. Key Strategies

11.6. Bombay Burmah Trading Corporation Limited

11.6.1. Company Overview

11.6.2. Financial Overview

11.6.3. Products Offered

11.6.4. Key Developments

11.6.5. SWOT Analysis

11.6.6. Key Strategies

11.7. Stash Tea Company

11.7.1. Company Overview

11.7.2. Financial Overview

11.7.3. Products Offered

11.7.4. Key Developments

11.7.5. SWOT Analysis

11.7.6. Key Strategies

11.8. Bigelow Tea Company

11.8.1. Company Overview

11.8.2. Financial Overview

11.8.3. Products Offered

11.8.4. Key Developments

11.8.5. SWOT Analysis

11.8.6. Key Strategies

11.9. Shangri-la Tea

11.9.1. Company Overview

11.9.2. Financial Overview

11.9.3. Products Offered

11.9.4. Key Developments

11.9.5. SWOT Analysis

11.9.6. Key Strategies

11.10. Yogi Tea

11.10.1. Company Overview

11.10.2. Financial Overview

11.10.3. Products Offered

11.10.4. Key Developments

11.10.5. SWOT Analysis

11.10.6. Key Strategies

11.11. Republic of Tea

11.11.1. Company Overview

11.11.2. Financial Overview

11.11.3. Products Offered

11.11.4. Key Developments

11.11.5. SWOT Analysis

11.11.6. Key Strategies

11.12. Mighty Leaf Tea

11.12.1. Company Overview

11.12.2. Financial Overview

11.12.3. Products Offered

11.12.4. Key Developments

11.12.5. SWOT Analysis

11.12.6. Key Strategies

11.13. Numi, Inc.

11.13.1. Company Overview

11.13.2. Financial Overview

11.13.3. Products Offered

11.13.4. Key Developments

11.13.5. SWOT Analysis

11.13.6. Key Strategies

11.14. Harney & Sons Fine Teas

11.14.1. Company Overview

11.14.2. Financial Overview

11.14.3. Products Offered

11.14.4. Key Developments

11.14.5. SWOT Analysis

11.14.6. Key Strategies

11.15. Hälssen & Lyon GmbH

11.15.1. Company Overview

11.15.2. Financial Overview

11.15.3. Products Offered

11.15.4. Key Developments

11.15.5. SWOT Analysis

11.15.6. Key Strategies

12. APPENDIX

12.1. General Sources & References

12.2. List of Abbreviation

 

LIST OF TABLES

TABLE 1 Global Organic Tea Market, by Region, 2020–2027 (USD Million)

TABLE 2 Global Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 3 Global Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 4 Global Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 5 North America: Organic Tea Market, by Country, 2020–2027 (USD Million)

TABLE 6 North America: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 7 North America: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 8 North America: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 9 US: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 10 US: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 11 US: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 12 Canada: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 13 Canada: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 14 Canada: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 15 Mexico: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 16 Mexico: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 17 Mexico: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 18 Europe: Organic Tea Market, by Country, 2020–2027 (USD Million)

TABLE 19 Europe: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 20 Europe: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 21 Europe: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 22 Germany: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 23 Germany: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 24 Germany: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 25 France: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 26 France: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 27 France: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 28 Italy: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 29 Italy: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 30 Italy: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 31 Spain: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 32 Spain: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 33 Spain: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 34 UK: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 35 UK: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 36 UK: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 37 Rest of Europe: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 38 Rest of Europe: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 39 Rest of Europe: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 40 Asia-Pacific: Organic Tea Market, by Country, 2020–2027 (USD Million)

TABLE 41 Asia-Pacific: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 42 Asia-Pacific: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 43 Asia-Pacific: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 44 China: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 45 China: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 46 China: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 47 India: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 48 India: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 49 India: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 50 Japan: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 51 Japan: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 52 Japan: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 53 Rest of Asia-Pacific: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 54 Rest of Asia-Pacific: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 55 Rest of Asia-Pacific: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 56 Rest of the World (RoW): Organic Tea Market, by Country, 2020–2027 (USD Million)

TABLE 57 Rest of the World (RoW): Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 58 Rest of the World (RoW): Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 59 Rest of the World (RoW): Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 60 South America: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 61 South America: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 62 South America: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 63 Middle East: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 64 Middle East: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 65 Middle East: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)

TABLE 66 Africa: Organic Tea Market, by Type, 2020–2027 (USD Million)

TABLE 67 Africa: Organic Tea Market, by Form, 2020–2027 (USD Million)

TABLE 68 Africa: Organic Tea Market, by Distribution Channel, 2020–2027 (USD Million)  

LIST OF FIGURES

FIGURE 1 Global Organic Tea Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Porter’s Five Forces Analysis of the Global Organic Tea Market

FIGURE 4 Value Chain of Global Organic Tea Market

FIGURE 5 Share of the Global Organic Tea Market in 2020, by Country (%)

FIGURE 6 Global Organic Tea Market, by Region, 2020–2027,

FIGURE 7 Global Organic Tea Market Size, by Type, 2020

FIGURE 8 Share of the Global Organic Tea Market, by Type, 2020–2027 (%)

FIGURE 7 Global Organic Tea Market Size, by Form, 2020

FIGURE 8 Share of the Global Organic Tea Market, by Form, 2020–2027 (%)

FIGURE 7 Global Organic Tea Market Size, by Distribution Channel, 2020

FIGURE 8 Share of the Global Organic Tea Market, by Distribution Channel, 2020–2027 (%)