The global tea market was valued at $49 billion in 2021, and is projected to reach $93.2 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.
Tea is the most commonly consumed drink after water, with several health benefits. The aromatic beverage is made via the processing and fermentation of Camellia Sinensis plant leaves. It contains potent antioxidants known as flavonoids, which stabilize harmful free radicals in the body. In addition, tea comprises vitamins C, K, B12, B6, & E; a trace amount of potassium, manganese, magnesium, & calcium minerals; and different amino acids such as L-theanine. Several studies and research on tea suggest that it prevents cancer, lowers cholesterol, facilitates weight loss, and enhances immunity. Primarily, tea can be categorized into black and green tea based on the degree of fermentation or oxidation.
The tea market is projected to be fueled by the availability and distribution of tea. Availability and distribution are key drivers of the growth of the tea market. Tea products are now widely available in supermarkets, specialty stores, online, and in restaurants and cafes. This makes it easier for consumers to access a variety of tea products, which can Increase demand and drive market growth. Tea companies are expanding their distribution channel to reach more consumers. For example, they are partnering with grocery stores, cafes, and restaurants to offer their products. This Increases the visibility and accessibility of tea products, driving demand and market growth. Tea companies are expanding their operations to new regions, both domestically and internationally. This Increases the availability of tea products in new markets, driving demand and market growth. Overall, availability and distribution are significant drivers for the growth of the tea market. The expansion of distribution channel of tea products, convenience, regional expansion, and health and wellness trends are all contributing to the growth of the tea market.
The Asia-Pacific tea market held the major share in 2021 and is expected to grow at a significant CAGR during the forecast period. Tea has been an integral part of Asian culture for centuries, with countries such as China, Japan, and India having long-standing tea traditions. This has helped to establish tea as a staple beverage in the region, driving demand and market growth. The Asia-Pacific region has seen a significant rise in the middle class in recent years, which has led to an Increase in disposable Income and consumer spending on luxury goods, Including tea. As health and wellness trends continue to gain traction in the Asia-Pacific region, consumers are Increasingly preferring tea for its perceived health benefits, Including improved digestion, stress relief, and immune system support. Overall, the growth of the tea market in the Asia-Pacific region is driven by a combination of historical and cultural significance, economic growth, health and wellness trends, expansion of distribution channel, and product innovation.
However, price is a significant factor that can impact the growth of the tea market. Tea faces competition from other lower-priced beverage options, such as water, soda, and fruit juices. Consumers may choose these alternatives over tea if they perceive them to offer better value for money. The price of tea is influenced by factors such as weather conditions, transportation costs, and government policies, which can cause price fluctuations. This can make it difficult for tea companies to offer stable pricing, which may impact demand and sales. Tea companies are Increasingly offering premium and specialty teas at higher price points, targeting consumers who are willing to pay a premium for quality and unique products. However, this can also lead to a perception of tea as an expensive and luxury item, which may limit its market appeal. Overall, price can be a significant factor that can impact the growth of the tea market.
The tea market is segmented on the basis of type, packaging, application, distribution channel, and region. By type, the market is divided into green tea, black tea, oolong tea, dark tea, and others. By packaging, it is fragmented into plastic containers, loose tea, paperboard, aluminum tins, and tea bags. Applications covered in the study Include residential and commercial. By distribution channel, it is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the tea market Include Associated British Foods plc, BARRY'S TEA, HAIN CELESTIAL GROUP, Inc., ITO EN, LTD., Mcleod Russel India limited, Nestle S.A., TAETEA, Tata Global Beverages, The Republic of Tea, Inc., UNILEVER GROUP.
Tea is the most commonly consumed drink after water, with several health benefits. The aromatic beverage is made via the processing and fermentation of Camellia Sinensis plant leaves. It contains potent antioxidants known as flavonoids, which stabilize harmful free radicals in the body. In addition, tea comprises vitamins C, K, B12, B6, & E; a trace amount of potassium, manganese, magnesium, & calcium minerals; and different amino acids such as L-theanine. Several studies and research on tea suggest that it prevents cancer, lowers cholesterol, facilitates weight loss, and enhances immunity. Primarily, tea can be categorized into black and green tea based on the degree of fermentation or oxidation.
The tea market is projected to be fueled by the availability and distribution of tea. Availability and distribution are key drivers of the growth of the tea market. Tea products are now widely available in supermarkets, specialty stores, online, and in restaurants and cafes. This makes it easier for consumers to access a variety of tea products, which can Increase demand and drive market growth. Tea companies are expanding their distribution channel to reach more consumers. For example, they are partnering with grocery stores, cafes, and restaurants to offer their products. This Increases the visibility and accessibility of tea products, driving demand and market growth. Tea companies are expanding their operations to new regions, both domestically and internationally. This Increases the availability of tea products in new markets, driving demand and market growth. Overall, availability and distribution are significant drivers for the growth of the tea market. The expansion of distribution channel of tea products, convenience, regional expansion, and health and wellness trends are all contributing to the growth of the tea market.
The Asia-Pacific tea market held the major share in 2021 and is expected to grow at a significant CAGR during the forecast period. Tea has been an integral part of Asian culture for centuries, with countries such as China, Japan, and India having long-standing tea traditions. This has helped to establish tea as a staple beverage in the region, driving demand and market growth. The Asia-Pacific region has seen a significant rise in the middle class in recent years, which has led to an Increase in disposable Income and consumer spending on luxury goods, Including tea. As health and wellness trends continue to gain traction in the Asia-Pacific region, consumers are Increasingly preferring tea for its perceived health benefits, Including improved digestion, stress relief, and immune system support. Overall, the growth of the tea market in the Asia-Pacific region is driven by a combination of historical and cultural significance, economic growth, health and wellness trends, expansion of distribution channel, and product innovation.
However, price is a significant factor that can impact the growth of the tea market. Tea faces competition from other lower-priced beverage options, such as water, soda, and fruit juices. Consumers may choose these alternatives over tea if they perceive them to offer better value for money. The price of tea is influenced by factors such as weather conditions, transportation costs, and government policies, which can cause price fluctuations. This can make it difficult for tea companies to offer stable pricing, which may impact demand and sales. Tea companies are Increasingly offering premium and specialty teas at higher price points, targeting consumers who are willing to pay a premium for quality and unique products. However, this can also lead to a perception of tea as an expensive and luxury item, which may limit its market appeal. Overall, price can be a significant factor that can impact the growth of the tea market.
The tea market is segmented on the basis of type, packaging, application, distribution channel, and region. By type, the market is divided into green tea, black tea, oolong tea, dark tea, and others. By packaging, it is fragmented into plastic containers, loose tea, paperboard, aluminum tins, and tea bags. Applications covered in the study Include residential and commercial. By distribution channel, it is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the tea market Include Associated British Foods plc, BARRY'S TEA, HAIN CELESTIAL GROUP, Inc., ITO EN, LTD., Mcleod Russel India limited, Nestle S.A., TAETEA, Tata Global Beverages, The Republic of Tea, Inc., UNILEVER GROUP.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the tea market analysis from 2021 to 2031 to identify the prevailing tea market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the tea market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global tea market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Green Tea
- Black Tea
- Oolong Tea
- Fruit/Herbal Tea
- Others
By PACKAGING
- Plastic Containers
- Loose Tea
- Paperboards
- Aluminum Tins
- Tea Bags
By Application
- Residential
- Commercial
By Distribution Channel
- Supermarkets/ Hypermarkets
- Specialty Stores
- Convenience Stores
- Online Stores
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Turkey
- Saudi Arabia
- Egypt
- Rest of LAMEA
Key Market Players
- ITO EN, LTD.
- Nestle S.A.
- Associated British Foods plc
- HAIN CELESTIAL GROUP, Inc.
- The Republic of Tea, Inc.
- Tata Consumer Products Limited
- Unilever PLC
- R.C. Bigelow, Inc.
- Barrys Tea
- Mcleod Russel India Limited
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: TEA MARKET, BY TYPE
CHAPTER 5: TEA MARKET, BY PACKAGING
CHAPTER 6: TEA MARKET, BY APPLICATION
CHAPTER 7: TEA MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 8: TEA MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Tea Market,' The tea market was valued at $49 billion in 2021, and is estimated to reach $93.2 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.Tea is the most commonly consumed drink after water, with several health benefits. The aromatic beverage is made via the processing and fermentation of Camellia Sinensis plant leaves. It contains potent antioxidants known as flavonoids, which stabilize harmful free radicals in the body. In addition, tea comprises vitamins C, K, B12, B6, & E; a trace amount of potassium, manganese, magnesium, & calcium minerals; and different amino acids such as L-theanine. Several studies and research on tea suggest that it prevents cancer, lowers cholesterol, facilitates weight loss, and enhances immunity. Primarily, tea can be categorized into black and green tea based on the degree of fermentation or oxidation.
Key factors driving the growth of the tea market include health benefits associated with tea, rise in awareness among people for losing weight, and expanding retail market. Additionally, Innovation and new product development are driving the growth of the tea market. Innovation in the tea market has led to the development of new and diverse tea products, such as herbal teas, fruit teas, and flavored teas. These products appeal to different consumer preferences and offer a wider range of options for tea drinkers. Innovation in tea packaging, such as tea bags, instant tea, and ready-to-drink tea, has made it more convenient for consumers to enjoy tea on-the-go. These convenient tea products have contributed to the growth of the tea market. Innovation in branding and marketing has helped tea companies differentiate themselves in a crowded market. Unique packaging, creative advertising campaigns, and social media engagement have helped tea companies build brand awareness and drive consumer interest in their products. Overall, innovation and new product development have driven the growth of the tea market by diversifying tea products, increasing convenience, promoting health and wellness, supporting sustainability, and enhancing branding and marketing efforts.
The market also offers growth opportunities to the key players in the market. Moreover, diversification of products is creating an opportunity for key players in the tea market by allowing them to cater to changing consumer preferences and expand their product portfolio. With changing consumer preferences, tea companies are investing in research and development to create new tea products that cater to a wide range of consumers. By diversifying their product portfolio, tea companies can target different segments of the market and appeal to a broader range of consumers. For instance, tea companies can introduce new and innovative tea products such as herbal teas, fruit teas, and specialty blends that appeal to consumers who are looking for unique and flavorful tea experiences. Tea companies can also offer products that cater to health-conscious consumers, such as teas that aid digestion, promote relaxation, or boost the immune system. Moreover, tea companies can diversify their product portfolio by introducing ready-to-drink tea and iced tea products that cater to consumers who are looking for convenient and refreshing tea products. This provides an opportunity for tea companies to expand their customer base and increase sales. In addition, diversification of products can also help tea companies differentiate themselves from their competitors and build a stronger brand image. By introducing new and innovative tea products, tea companies can create a unique value proposition and set themselves apart from their competitors.
The tea market is segmented on the basis of type, packaging, application, distribution channel, and region. By type, the market is divided into green tea, black tea, oolong tea, dark tea, and others. By packaging, it is fragmented into plastic containers, loose tea, paperboard, aluminum tins, and tea bags. Applications covered in the study include residential and commercial. By distribution channel, it is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. They have been also focusing on strengthening their market reach to maintain their goodwill in the ever-competitive market. Some of the key players in the tea market include Associated British Foods plc, BARRY'S TEA, HAIN CELESTIAL GROUP, INC., ITO EN, LTD., Mcleod Russel India limited, Nestle S.A., TAETEA, Tata Global Beverages, The Republic of Tea, INC., UNILEVER GROUP.
KEY FINDINGS OF THE STUDY
- By type, the green tea segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.
- By packaging, the paperboard segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.
- By application, the residential segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.
- By distribution channel, the offline segment was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.
- By region, the North America region was the highest revenue contributor to the market in 2021 and is expected to grow at a significant CAGR during the forecast period.
Companies Mentioned
- ITO EN, LTD.
- Nestle S.A.
- Associated British Foods plc
- HAIN CELESTIAL GROUP, INC.
- The Republic of Tea, Inc.
- Tata Consumer Products Limited
- Unilever PLC
- R.C. Bigelow, Inc.
- Barrys Tea
- Mcleod Russel India Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 555 |
| Published | May 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 49 billion |
| Forecasted Market Value ( USD | $ 93.2 billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
