IMARC Group has recently released a new research study titled “Tea Market Report by Product Type (Green Tea, Black Tea, Oolong Tea, and Others), Packaging (Plastic Containers, Loose Tea, Paper Boards, Aluminium Tin, Tea Bags, and Others), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online, and Others), Application (Residential, Commercial), and Region 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the tea market?
The global tea market size reached US$ 23.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
What is tea?
The rising health consciousness among consumers represents one of the key factors driving the market growth of tea worldwide. Moreover, producers are actively embracing innovative farming techniques, contributing to an expansion in variety and quality of tea.
In addition to this, advancements in packaging and flavor infusion are playing a pivotal role in attracting a broader consumer base, offering a modern twist on the traditional beverage. The shift towards organic and sustainable farming practices is particularly resonant, leading to an increased availability of eco-friendly tea products. This sustainability drive, coupled with the introduction of fair trade practices, is markedly enhancing the market’s outlook.
Furthermore, manufacturers are persistently investing in research and development to refine the health benefits, flavors, and aroma of tea, ensuring its enduring appeal and escalating its presence in the global beverage market.
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Tea Industry Trends, Demand and Growth Factors:
The tea market has witnessed robust growth fueled by several factors. A rising health consciousness among consumers is drawing attention to the beverage’s potential health benefits, including antioxidant properties and cardiovascular wellness. Additionally, innovative blends and flavors are entering the market, bolstering consumer interest and expanding use-cases for tea, from traditional sipping to culinary applications. The growing trend of tea lounges and specialty stores is also enhancing the cultural prominence of tea, making it more than just a household staple.
The rise of online retailers specializing in tea products has made it easier for consumers to explore a global range of options, thereby contributing to market expansion. Other factors contributing to the tea market’s growth include an increasing awareness of the mental health benefits associated with the ritual of tea drinking, such as stress relief and mindfulness.
Who are the key players/companies in the global tea market?
Some of the major players in the global tea market include Tata Consumer Products Limited, Unilever, Associated British Foods Plc., Taetea, Barry’s Tea, etc.
What Is Included In Market Segmentation?
The report has segmented the market into the following categories.
Product Type Insights:
- Green Tea
- Black Tea
- Oolong Tea
- Others
Packaging Insights:
- Plastic Containers
- Loose Tea
- Paper Boards
- Aluminium Tin
- Tea Bags
- Others
Distribution Channel Insights:
- Supermarkets/Hypermarkets
- Specialty Stores
- Convenience Stores
- Online
- Others
Application Insights:
- Residential
- Commercial
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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