Tea Market Report and Forecast 2023-2028

According to the report, the global tea market reached a value of USD 49.75 billion in 2022. Aided by the widespread cultural significance of tea and its well-acknowledged health benefits, the market is projected to further grow at a CAGR of 6.2% between 2023 and 2028 to reach a value of USD 71.37 billion by 2028.

Tea, derived from the Camellia sinensis plant, is one of the most consumed beverages across the globe. Renowned for its refreshing nature, tea has transcended being just a drink to becoming an integral part of many cultures. Spanning green, black, oolong, and white varieties, tea is prized for its antioxidants, particularly catechins and theaflavins, which have garnered attention for their potential cardiovascular and cognitive health benefits.

The global escalation in health-conscious consumers is significantly fuelling the tea market growth. The increasing recognition of tea's potential in weight management and its ability to improve mental alertness has led to a spurt in its daily consumption. Furthermore, the traditional association of tea with relaxation and mental well-being has been a driving factor, especially amidst modern lifestyles marked by stress and hectic routines.

As per the tea market analysis, culinary innovations around tea have further broadened its appeal. The surge in specialty teas, flavoured varieties, and blends cater to a diverse audience. Notably, the advent of cold brews, tea infusions in cocktails, and fusion beverages like "bubble tea" has amplified its reach among millennials and Gen Z consumers.

The tea market is also observing growth impetus from its extensive application in the wellness and cosmetic industry. Green tea extracts, owing to their anti-inflammatory and antioxidant properties, have found significant usage in skincare products and further adds value to the tea market size. Additionally, tea's potential in enhancing metabolic rate has made it a choice ingredient in weight loss supplements.

This shift towards sustainable production resonates with the increasing popularity of organic tea varieties in the market and propel the tea market demand. Consumers, more informed and conscious of their choices, are showing a willingness to pay a premium for teas that are free from synthetic fertilisers and pesticides and are produced with minimal environmental impact.

Market Segmentation

The market can be divided based on source, type, packaging type, application, distribution channel, and region.

Market Breakup by Source

• Organic
• Conventional

Market Breakup by Type

• Black
• Green
• Oolong
• White
• Others

Market Breakup by Packaging Type

• Plastic Containers
• Loose Tea
• Paper Boards
• Aluminium Tins
• Tea Bag
• Others

Market Breakup by Application

• Residential
• Commercial

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Speciality Stores
• Online
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global tea market.

Some of the major players explored in the report are as follows:

• Unilever Plc
• Associated British Foods Plc
• Tata Consumer Products Limited
• ITO EN, LTD.
• Taiwan Tea Corporation
• Dilmah Ceylon Tea Company PLC.
• Barry’s Tea
• SAC Leão
• The Hain Celestial Group, Inc.
• Tenfu's TEA

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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.