ID: MRFR/F-B & N/1603-CR | November 2019 | Region: Global | 110 pages
Tea Market is expected to register a CAGR of 4.47% to reach USD 22,669.8 Million by 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 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 increasing 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 Global Tea Market is expected to grow at a substantial rate during the forecast period. Growing consumer awareness about health and wellness is driving the demand for functional beverages. Consumers are inclined toward beverages that assist in enhancing certain body functionalities. This growing trend for functional beverages has increased the scope of the global tea market. In accordance with the high consumption of tea for its functional properties, manufacturers in the global tea market are continuously launching new and innovative products. The launch of such innovative products is expected to drive the growth of the global tea market during the review period. However, fluctuations in climatic conditions and the dependence of the tea plant on weather conditions are likely to pose a limitation to the growth of the tea market across the world.
Global Tea Market Revenue, by Type, 2025 (USD Million)
Sources: MRFR Analysis
The black tea segment is expected to expand at a substantial CAGR and reach USD 7,960.2 Million by the end of 2025. Black tea is a common tea type and has a stronger flavor than the less oxidized teas. The availability of various flavors of black tea is boosting sales. However, the consumption of herbal tea is increasing as it is considered a healthy drink and is available in several flavor variants such as mint, chamomile, and fruit-flavored infusions. Thus, the herbal tea segment is projected to be the fastest-growing during the forecast period.
Global Tea Market Share, by Region, 2018 (%)
Sources: MRFR Analysis
Asia-Pacific is expected to account for the largest share of the global tea market during the forecast period. The region accounted for 39.28% share of the global market in 2018. China is a major contributor to the growth of the Asia-Pacific tea market, being the largest producer and consumer of tea. Countries such as India, Japan, Vietnam, and Indonesia also contribute substantially to the growth of the tea market in Asia-Pacific. Europe accounted for a significant share of the market in 2018 with the UK being a major consumer of tea. However, North America is projected to be the fastest-growing regional market at a CAGR of 4.87% during the forecast period. Owing to the high prevalence of obesity in the region, the demand for green and herbal tea is rising as they assist in weight loss.
The Prominent Players operating in the Global Tea Market include 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 Forté Inc. (US).
The players operating in the Global Tea Market are focusing on product launches and strengthening their footprints across the globe.
Global Tea Market, by Type
Global Tea Market, by Form
Global Tea Market, by Category
Global Tea Market, by Distribution Channel
Global Tea Market, by Region
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Frequently Asked Questions (FAQ) :
Tea Market is projected to grow at a 4.47% CAGR between 2017-2025.
The Asia Pacific is expected to dominate the Tea Market.
Tea market is predicted to touch USD 22,669.8 million by 2025.
The black tea segment will dominate the Tea Market.
Consumption of beverages such as coffee may limit the Tea Market growth.