The scope of the global Tea Market was appreciated at US$ 12.63 billion in 2018. The range is projected to touch US$ 18.42 billion by 2025, growing at a CAGR of 5.5% for the duration of the forecast. This could be attributed to awareness regarding health benefits pertaining to tea consumption. As such, majority of global population has started making tea intake as a routine. Besides, growing urbanized population and middle class of several developing economies is impacting the consumption of tea in its various forms.
Tea production as well as consumption have always held a strong correlation. In other words, tea production is directly proportional to tea consumption. FAO (Food and Agricultural Organization of the United Nations) states that production of tea did witness a yearly rise of 4.4% from 2007 to 2016. Tea consumption also witnessed rise along the same lines. The same trend is expected to continue in the next 5-7 years as well.
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The ever-increasing usage of tea is likely to bring premium products to the market. For instance – in economies like the U.S., super-premium and premium products hold the largest market share. Even in the Europe consumers are opting for niche and luxurious flavors in form of customized offerings. Nutritionists are focusing on consumption of tea due to contents like phytochemicals, flavonoids, and anti-oxidants.
Regional Insights:
Germany comes across as one of the highest importer of tea. Moreover, these imports come from Asian economies like Sri Lanka, India, China, and African economies like Kenya. As of now, black tea rules the roost; but introduction of iced teas is expected to catalyze the market in future. On the other hand, green tea is also catching up. Its exports will also set the market rolling. Asia Pacific would be the torchbearer as far as green tea exports are concerned. The benefits of green tea include boosting immune system and assistance in weight loss.
Market Segmentation:
The global tea market is segmented based on type, packaging, distribution channel, application, and geography. By type, the segmentation goes like black tea, green tea, oolong tea, fruit/herbal tea, and others (dark tea, yellow tea, and white tea). By packaging, the market says loose tea (pouches & packets), plastic containers, paper boards, aluminum tin, and tea bags. By distribution channel, the tea industry spans online stores, convenience stores, specialty stores, supermarkets/hypermarkets, and others. By application, the same market states commercial and residential. By geography, the segmentation says North America (Mexico, Canada, U.S.), Europe (Germany, UK, France, Spain, Italy, Russia, and the Rest of Europe), Asia Pacific (India, China, Korea, Japan, Australia, and the Rest of Asia Pacific), and LAMEA (South Africa, KSA, Egypt, Turkey, Brazil, and the Rest of LAMEA).
Players:
The players contributing to the tea market include Unilever, Tata Global beverages, Bettys & Taylors Group Ltd., ITO EN Inc., McLeod Russel, Apeejay surrendra Group, Barry’s tea, Associated British Foods Plc., Teavana, Godrej Group, Tim Hortons, DavidsTea, Celestial Seasonings, Inc., Harney and Sons, Tazo Tea Company, Numi Organic Tea, and Mighty Leaf Tea Company. They are focusing on organic mode of expansion to withstand the cutthroat competition.
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