Tea Market Research Report - Forecast till 2027

Tea Market: Information by Type (Green Tea, Black Tea, Oolong Tea, Herbal Tea and others), Form (Loose Leaf, Tea Bags and others), Category (Organic and Conventional), Distribution Channel (Store-Based [Supermarkets & Hypermarkets, 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/1603-CR | February 2021 | Region: Global | 110 Pages         

Tea Market

Tea Market is expected to register a CAGR of 4.60% to reach USD 28 Bn by 2027.

Segmentation

By Type Green Tea Black Tea Oolong Tea Herbal Tea others
By Form Loose Leaf Tea Bags others
By Category Organic Conventional
By Distribution Channel Store-Based Non-Store-Based
By Region North America Europe Asia-Pacific Rest of the World

Key Players

  • Associated British Foods
  • WISSOTZKY TEA
  • Unilever
  • Starbucks Corporation
  • Akbar Brothers Ltd
  • Nestlé S.A
  • Tata Global Beverages (Tata Tea Ltd.)
  • DAVIDs TEA
  • The Republic of Tea

Drivers

  • High Demand For Functional Beverages
  • Launch Of Innovative Flavors
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Tea Market Overview


Tea Market is expected to register a CAGR of 4.60% to reach USD 28 Bn by 2027. It has been noticed that there have been several upsurges in the figure of consumers eating fast food. It has been years since progress has been noticed in the tiring routines of the consumers, and there has been an ease increase in food items comprising fried chicken which has aided in the expansion of the take-out fried chicken market.


During the prediction period, it has been observed that the take-out fried chicken market takes a huge area with a significant market portion. The emerging activities of the market rest on the growth of the fast-food business and the evolving activities of the internationally prolonged fast-food chains. Consumers eating fast foods have augmented these days. They have started implementing new and tiring routines and increased demand for suitable routines comprising fried chicken takeout. Internationally it has been observed that the opening of food contracts in the several regions by opening up the numerous arrays of outlets is rising the chicken sale. The increase in the effortlessness and the ease of the delivery of fried chicken increased the growth of the take-out fried chicken market internationally in these forthcoming years.


The increase in the number of workers in the workplace and the commonness of consuming fast foods boost the growth of the take-out fried chicken market and other fried chicken. These fried chickens have increased the chances of consuming chicken by the outlets. 

Young Mountain Tea, a tea startup, has raised $1.1 million to assist fund its initiatives to empower Himalayan farmers and introduce zero-waste tea bags. To create the first farmer-owned tea plant in the area, the business has joined forces with Himalayan tea growers in the village of Champawat in Northern India. Young Mountain Tea has received funding from USAID and Frontier Co-op to fund the project and is awaiting an equity stake from institutional impact investor Acumen. To launch its first line of organic, pyramid-shaped tea bags made of compostable materials, the company also completed a convertible note round led by SWAN, a Texas-based angel investor network, and obtained debt and credit lines from Oregon Community Development Financial Institutions Funds and Vermont philanthropic institutions. The bag, envelope, carton of the tea bag, and every other component may be disposed of sustainably.


Covid-19 Analysis


The Tea Market is assessed to experience an adverse consequence during the COVID-19 pandemic. The development is declining during the pandemic because of supply chain disturbances, the complete conclusion of manufacturing and creation offices because of lockdown limitations, and deficiency of work.


What's more, the import-export limitations, accessibility of raw materials, and social separating measures have contrarily affected the market development during the pandemic. For example, the Indian tea measure has fallen essentially, as fares expanding the expense of creation because the tea producers are confronting huge losses.


Because of the pandemic, numerous nations have prohibited tea imports, which have extraordinarily influenced the market interest and income. Different drives have been taken by the public authority, key sellers, and others to help the tea producers during the pandemic. IDH Farm fit, the world's biggest private-public effect store for smallholder ranchers, has presented different drives during a pandemic, for example, in Malawi, a country in southeast Africa, is supporting the smallholder ranchers by circulating PPE packs, sanitizers, making interests in kitchen nurseries to give food security to 4,000 smallholders ranchers and their family.


Moreover, IDH is likewise working with Indian smallholder tea makers of Golghar. Assam is sponsoring transport for little tea cultivators in Assam with associated cases with COVID-19, so the testing is suggested by wellbeing professionals should be possible. These variables are assessed to set out worthwhile speculation open doors during the estimated time frame.


Market Dynamics


Drivers, opportunities, Restraints, and challenges of the market:


The global Tea Market Size was valued at $55,144 million every 2019 and is projected to reach $68,950 million by 2027, enrolling a CAGR of 6.6% from 2020 to 2027. The green tea portion was the most noteworthy supporter of the market, with $16,362 million every 2019, and is assessed to reach $26,110 million by 2027, at a CAGR of 9.8% during the gauge time frame. China is one of the noticeable districts in the market that represented a sizeable portion of the all-out market in 2019.


An ascent in the expendable wages of shoppers has empowered the tea makers to present expense and healthy items. They have begun adding a few sound fixings to their natural tea details to focus on a portion of the normal medical issue, including diabetes, excellence, stoutness, heart wellbeing, and so forth. Consequently, a shift towards the utilization of natural Tea goes about as an arising pattern affecting the development of the tea market.


Another important factor driving the growth of Tea is the development of Tea is its solid customer acknowledgment. Presently, it addresses the world's most devoured refreshment after water. It has exceptionally high infiltration levels in Asia and Europe, with individuals burning through Tea consistently.


Tea represents an inexpensive beverage and is devoured across all financial shopper gatherings. A significant impetus that has upheld the prominence of Tea across different creating markets, like India and China, is that it is reasonable by the mass populace, a greater part of who have a place with low-pay gatherings.


Over the past few years, the Tea Market Share has been growing where different tea lounges have been opening across the globe. These parlors offer the customers various advantages, such as the accessibility of an assortment of handpicked teas from various areas.


Such places have given the purchasers hang-out spaces where they can enjoy discussions, contributing to an expanding interest in Tea.


According to the Tea Market Analysis, Lockdowns across the globe in 2020 and proceeding with limitations in 2021 disturbed the store network presenting difficulties for makes in the Tea. Extreme rivalry, estimating issues, and moving purchaser inclinations will proceed with the descending tension on sellers' net revenues. The high-speed recuperation of creating economies prompting expanded discretionary cash flow will uphold the Herbal Tea market interest somewhere in the range of 2021 and 2028. The Market research report depicts the most recent patterns molding the Tea business alongside key interest drivers and potential difficulties expected for the market during the standpoint time frame.

The new Roasted Japanese Green Tea Line has been introduced by Numi Organic Tea, an award-winning sustainable entrepreneur, founding B Corporation member, and a major buyer of organic, Fair Trade Certified teas. The new product line expands on the success of Numi's current green tea offerings and makes it possible for more consumers to experience the unique and nuanced flavors of high-quality roasted green teas from Japan. It features small-batched processed and specially designed whole-leaf grade organic tea sourced from Japan. The new product line features umami, a savory and nutty taste, and yuzu, a citrus fruit similar to a lemon with a characteristic sour flavor, two of the most popular 10 Japanese-inspired tastes trending in 2022.


Regional Analysis


Markets in North America, APAC, and Europe are relied upon to contribute fundamentally to in general income development of the global market. Change in standpoint towards social utilization of Tea, expanding tea utilization among youth and children, developing the unmistakable quality of the restaurant and fast assistance cafés in metropolitan regions has brought about expanding interest for tea utilization across the globe, are factors expected to fuel the development of the global market. Among the districts, APAC is assessed to represent a greater part of Tea Market Growth, at 41.2% in 2019, trailed by Europe.


APAC market is set to observe the Tea Market Trends as far as worth over the conjecture time frame, trailed by Europe and North America. An offer of different kinds of teas in North America, Europe, and APAC is assessed to aggregately represent more than 83.1% income portion of the global market by 2016 end. Among all significant business sectors for type, dark Tea and green tea portions are used to observe huge development rates over the figure time frame.


Asia Pacific area is expected to fill gigantically in the market because of expanding tea culture and rising interest in Tea from millennials. Besides, some key market players in the locale likewise uphold the market development around here through the figure time frame and then some.


APAC will offer a few development freedoms to advertise players during the estimated time frame. The developing populace of center pay gathering and rising interest from youth populace alongside expanding pace of tea creation in non-industrial nations, for example, China and India will essentially drive Tea market development around here over the conjecture time frame.

After a 50-year hiatus, Syria has resumed purchasing tea from India, but due to US and EU sanctions against the Western Asian nation, the shipments are being sent through Lebanon, according to dealers. In the absence of supply from Sri Lanka, nations like Iraq and Turkey also purchase sizable amounts of orthodox teas from India.


Recent Development


In 2020, KFC was the most famed brand of food which poised the exposed details, which developed from the new advanced gaming console. This gaming zone introduced a customised cooling system used by the supposed heat son formed by the element of the cabinet, which increases the heat of the chicken chamber.


Segment Overview


The tea market is segmented into sections dependent on the type, packaging, distribution channel, application, and region.

The top leisure airline in Yorkshire, Jet2.com, has teamed up with Yorkshire Tea and added the well-known tea brand to its new in-flight selection, making it the only airline in the UK to provide passengers with a "real brew" in the air. The arrangement means that on November 1, Jet2.com will start serving Yorkshire Tea on all flights departing from its 10 UK hubs as part of the new In-Flight Menu. The renowned hot beverage will be sold onboard or supplied as a hot beverage choice with adult meals that have been pre-ordered.


Segment based on type


The global market is segmented into green, black, herbal or fruit, Oolong, and others based on the type.


Segment based on packaging


The global market is segmented into loose Tea, paperboard, aluminum tin, tea bags, plastic containers, etc.


Segment based on distribution channel


The global market is segmented into online, specialty stores, supermarkets or hypermarkets, convenience stores, etc.


Segment based on application


The global market is segmented into residential and commercial.


Cumulative Analysis


The tea market contributes relatively high income among the kind fragment over the figure time frame and Tea Market Forecast around 42.1% worth portion of the global market by 2020 end.


Tea Market Outlook is also expected to observe good income development in the global market, enlisting a CAGR of 5.4% over the gauge time frame. This portion is projected to set out gradual $ freedom of US$ 2499.2Million, somewhere in the range of 2020 and 2027.


Competitive Landscape


Top organizations working in the global tea market are:



  • Associated British Foods,

  • WISSOTZKY TEA,

  • Unilever,

  • Starbucks Corporation,

  • Akbar Brothers Ltd,

  • Nestlé S.A,

  • Tata Global Beverages (Tata Tea Ltd.),

  • DAVIDs TEA, and

  • The Republic of Tea


Report Overview



  • The report gives a quantitative examination of the current tea market patterns, assessments, and elements of the market size to recognize the predominant chances.

  • Porter's five powers investigation features the intensity of the purchasers and providers to empower partners to settle on benefit arranged business choices and reinforce their provider purchaser organization.

  • In-profundity examination and the market size and division help with deciding the overarching tea market openings.

  • The Tea Market Revenue generated by the powerful nations in every area is planned by their income commitment to the global market.

  • The market player situating section works with benchmarking and gives a reasonable comprehension of the current situation of the market players in the business.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 28 Billion
  CAGR   4.60%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, Form, Category, Distribution Channel, and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Associated British Foods, WISSOTZKY TEA, Unilever, Starbucks Corporation, Akbar Brothers Ltd, Nestlé S.A, Tata Global Beverages (Tata Tea Ltd.), DAVIDs TEA, The Republic of Tea
  Key Market Opportunities   Accessibility of an assortment of handpicked teas from various areas
  Key Market Drivers   High Demand For Functional Beverages, Launch Of Innovative Flavors


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Frequently Asked Questions (FAQ) :

Tea Market is projected to grow at a 4.60% CAGR between 2020-2027.

Associated British Foods, WISSOTZKY TEA, Unilever, Starbucks Corporation, Akbar Brothers Ltd, Nestlé S.A, Tata Global Beverages (Tata Tea Ltd.), DAVIDs TEA, The Republic of Tea are the top companies to hold the market share in Global Tea Market.

Tea market is predicted to touch USD 28 billion by 2027.

The black tea segment will dominate the Tea Market.

Consumption of beverages such as coffee may limit the Tea Market growth.

The Asia Pacific is expected to dominate the Tea Market.