Green Tea Global Market Report 2024

The green tea market size has grown strongly in recent years. It will grow from $16.14 billion in 2023 to $17.6 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth observed in the historic period can be attributed to several factors, including increased awareness of the health benefits associated with green tea, globalization facilitating wider accessibility, a high prevalence of lifestyle-related health conditions, expansions in tea plantations, and the growing adoption of green tea among consumers.

The green tea market size is expected to see strong growth in the next few years. It will grow to $23.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to the expansion of e-commerce, a consumer preference for sustainability, the rise of tea tourism, an increasing demand from an aging population, and supportive government initiatives. Major trends expected in the forecast period include the emergence of functional green teas, a focus on premiumization, the popularity of convenience and ready-to-drink options, the exploration of fusion flavors, and a heightened demand for clean label products in the green tea market.

The trend among consumers towards making healthier food choices is expected to be a driving force for the green tea market. Healthy food choices involve opting for foods that contribute to overall well-being, support good health, and provide essential nutrients for optimal bodily functions. Green tea, recognized as both a beverage and dietary supplement, is known for its potential to enhance mental alertness, alleviate digestive discomfort, relieve headaches, and aid in weight loss. A notable shift in consumer behavior is evident, as reported by the International Food Information Council in May 2022. Approximately 52% of Americans embraced various diets or eating patterns, including clean eating, mindful eating, calorie counting, and plant-based diets, marking a significant increase from 39% in 2021. This shift towards healthier food choices is a key driver for the green tea market.

Prominent companies in the green tea market are strategically focusing on the development of plant-based and vegan products, particularly plant-based energy drinks, to cater to consumer preferences for healthier alternatives and maximize market profits. Plant-based energy drinks, derived from botanical sources, offer a natural and sustainable substitute for traditional energy drinks. These beverages often include plant extracts and functional ingredients such as green tea. For example, in April 2021, ITO EN Ltd., a US-based provider of non-alcoholic beverages and tea-related products, introduced matcha LOVE ENERGY +, a plant-based energy drink. This product line features green tea and matcha blends with functional ingredients targeting body and mind benefits, including soothing, immunity, and focus. Each variant contains 50 mg of natural caffeine, catechin antioxidants, vitamin C, and L-theanine, providing a gentle energy boost and mental clarity. Packaged in colorful, recyclable 8.2-ounce steel cans, these drinks offer a clean and natural energy option with functional benefits.

In May 2022, Florida Food Products, an innovator and producer of natural and clean-label ingredients, acquired T-Bev, Inc., for an undisclosed amount. This strategic acquisition is expected to extend the Florida Food Products platform into nutraceutical ingredients while reinforcing its position in value-added, natural tea products. T-Bev Inc., a US-based manufacturer and distributor of natural and organic caffeine and functional botanical extracts, including green tea, plays a vital role in enhancing Florida Food Products' capabilities in catering to the growing demand for health-conscious and natural ingredients.

Major companies operating in the green tea market report are Unilever Group, Associated British Foods plc, Ito En Ltd., Bombay Burmah Trading Corporation Limited, Kirin Beverage Company, Tata Consumer Product Limited, Twinings, Bigelow Tea, The Bigelow Tea Company, Pukka Herbs, Dilmah Ceylon Tea Company PLC, Yogi Tea, Organic India, Vahdam Teas, Celestial Seasonings, Republic of Tea, Mighty Leaf Tea, Tetley, Shangri-la Tea, Stash Tea.

Asia Pacific was the largest region in the green tea market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the green tea market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the green tea market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The green tea market consists of sales of green tea-infused skincare items, green tea-flavored snacks, green tea extracts, green tea-infused beverages, and green tea supplements. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Green tea is a variety of tea produced from the leaves and buds of the Camellia sinensis plant, distinguished by its unique processing method that avoids the extensive withering and oxidation stages seen in the production of oolong and black teas. Traditionally, green tea has been employed to enhance heart health, regulate body temperature and blood sugar levels, support digestion, and enhance cognitive functions.

The primary product types of green tea encompass green tea bags, green tea instant mixes, iced green tea, loose leaf, capsules, and other variations. Green tea bags are pre-measured pouches containing green tea leaves, designed for convenient and straightforward brewing. They are available in both organic and conventional categories, featuring flavored and unflavored options. Distribution channels for green tea products include supermarkets, hypermarkets, specialty stores, convenience stores, online platforms, and various other retail outlets.

The green tea market research report is one of a series of new reports that provides green tea market statistics, including green tea industry global market size, regional shares, competitors with green tea market share, detailed green tea market segments, market trends, and opportunities, and any further data you may need to thrive in the green tea industry. This green tea market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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