The new report by Expert Market Research titled, ‘Global Tea Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global tea market, assessing the market based on its segments like type, packaging, distribution channel, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): 6.5 Million Tons
• Forecast CAGR (2020-2025): 3.5%
• Forecast Market Size (2025): 8 Million Tons
The significant factor driving the global tea market growth is the product’s strong acceptance among consumers. Currently, it is the most consumed drink after water in the world. Moreover, a rise in the disposable incomes of consumers has led to the growing popularity of organic teas with several healthy ingredients. Over the forecast period, the change in dietary patterns of consumers towards healthier ingredients is expected to propel the market growth.
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Industry Definition and Major Segments
Tea is a hot beverage made by the infusion of dried and crush leaves of the tea plant with boiling water. It is widely consumed socially as well as for medicinal purposes.
Based on type, the market is divided into:
• Green Tea
• Black Tea
• Oolong Tea
• Herbal/Fruit Tea
Based on packaging, the market is categorised into:
• Plastic Containers
• Loose Tea
• Aluminium Tin
• Tea Bags
On the basis of distributional channel, the industry is segmented into:
• Specialty Stores
• Convenience Stores
On the basis of application, the industry is bifurcated into:
The regional markets for tea include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Tea is an inexpensive beverage that is consumed widely across all regions. In Asia and Europe, it has very high rates of penetration, with people drinking tea on a regular basis. Tea is a cheap beverage and enjoyed by all classes of socio-economic users. A major factor that has driven the popularity of tea across numerous emerging markets, such as India and China, is the fact that the product is affordable for the mass population, most of whom belong to low-income classes. Further, tea manufacturers have introduced premium and health-oriented products in the market recently, which have gained immense popularity amongst consumers across the world. Inflating disposable incomes and changing dietary patterns of consumers are escalating the demand for healthy and premium varieties of tea and are expected to significantly aid the industry growth in the future.
Key Market Players
The major players in the market are Tata Consumer Products (NSE: TATACONSUM), Unilever (NYSE: UL), Associated British Foods PLC (OTCMKTS: ASBFY), Barry’s Tea, ITO EN, Ltd. (TYO: 2593), and Dilmah Ceylon Tea Company PLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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