The latest intelligence report published by Report Ocean, titled “Global “Tea Market“2023: Increase in Demand and Opportunities,” offers valuable insights into the industry. The report provides a comprehensive analysis of research and information from various sources, empowering decision-makers worldwide to make a significant impact on the global economy. With a dynamic vision of the market size, statistics, and competitive landscape, the report presents a complete overview of the industry. It covers future trends, growth factors, consumption, production volume, CAGR value, opinions, profit margin, pricing, and industry-validated market data. This report assists individuals and market competitors in predicting future profitability and making crucial decisions for business growth.
Global tea market was valued at $46,392 million in 2016, and is projected to reach at $67,751 million by 2023, growing at a CAGR of 5.5% from 2017 to 2023. Tea is the most commonly consumed drink after water, with several health benefits. The aromatic beverage is made via processing and fermentation of Camellia sinensis plant leaves. It contains potential antioxidants known as flavonoids, which stabilize harmful free radicals in the body. In addition, tea is comprises vitamins C, K, B12, B6, & E; trace amount of potassium, manganese, magnesium, & calcium minerals; and different amino acids such as L-theanine.
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Several studies and researches on tea suggest that it prevents cancer, lowers cholesterol, facilitates weight loss, and enhances immunity. Primarily, tea can be categorized into black and green tea based on the degree of fermentation or oxidation.
The growth of the global tea market is driven by increase in health-related concerns of people, which is shifting their attention from carbonated drinks to tea. Furthermore, rise in cafe culture, growth in disposable income, change in tastes of people, and introduction of additional healthy ingredients in tea by different market players are some other factors that drive the growth of the market. However, increase in cost of raw materials due to unpredictable weather, high cost of production, and increase in trend of coffee consumption are expected to hamper the growth of market during the forecast period. Growth in demand from health-conscious young population and introduction of new flavor & variety are anticipated to provide lucrative opportunities for expansion the market.
The report segments the global tea market based on type, packaging, distribution channel, application, and geography. By type, the market is divided into green tea, black tea, oolong tea, dark tea, and others. On the basis of packaging, it is fragmented into plastic containers, loose tea (packets & pouches), paper boards, aluminum tin, and tea bags. By distribution channel, it is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. Applications covered in the study include residential and commercial. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
This report provides an extensive analysis of the current trends and emerging estimations & dynamics in the global tea market from 2016 to 2023, in terms of value and volume.
Detailed analysis of the market by type helps understand the different types of tea products that are currently in use, and the variants that are expected to gain prominence in the future.
Porter’s Five Forces analysis highlights the potency of buyers and suppliers to offer a competitive advantage to stakeholders to make profit-oriented business decisions and help strengthen their supplier & buyer network.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
Market share for all segments with respect to each geography is detailed in the report, which helps understand the trends in the industry.
The major strategies adopted by key players to expand their business include new product launches and expansion in untapped regions. The market players profiled in the study are as follows:
Tata Global Beverages
Unilever
Associated British Foods Plc.
TAETEA
Nestle
Barry’s Tea
Apeejay Surrendra Group
Bettys & Taylors Group Ltd.
McLeod Russel
ITO EN Inc.
OTHER KEY PLAYERS
Mighty Leaf Tea Company
Numi Organic Tea
The Republic of Tea
Tazo Tea Company
Teavana
Celestial Seasonings, Inc.
Fukujuen
Harney and Sons
Kazi Tea
M. M. Ispahani Limited
DavidsTea
Tim Hortons
Godrej Group
KEY MARKET SEGMENTS
By Type
Green Tea
Black Tea
Oolong Tea
Herbal/Fruit Tea
Others (White Tea, Dark Tea, and Yellow Tea)
By Packaging
Plastic Containers
Loose Tea (Packets & Pouches)
Paper Boards
Aluminum Tin
Tea Bags
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Convenience Stores
Online Stores
Others
By Application
Residential
Commercial
By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Russia
Rest of the Europe
Asia-Pacific
China
India
Japan
Korea
Australia
Pakistan
Rest of the Asia-Pacific
LAMEA
Brazil
South Africa
Turkey
KSA
Egypt
Rest of the LAMEA
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
Market Dynamics:
Drivers:
- Increasing emphasis on self-care and wellness, particularly among women. A
- Growing awareness of the health and beauty benefits offered by dietary supplements.
- Rising disposable incomes and willingness to invest in premium health and beauty products.
- Influence of social media and beauty influencers shaping consumer preferences.
- Changing lifestyles and health concerns driving the demand for supplementary nutrition.
Restraints:
- Lack of regulatory oversight and quality control in the supplements industry.
- Consumer skepticism and confusion regarding product claims and effectiveness.
- Potential risks and interactions with other medications or health conditions.
- Limited accessibility and affordability of supplements in certain regions.
Opportunities:
- Increasing demand for natural and organic supplements.
- Untapped market potential in the Asia-Pacific region.
- Development of innovative formulations and delivery methods.
- Collaborations with beauty brands or influencers for product endorsements.
- Integration of technology to personalize nutrition and enhance consumer experience.
Challenges:
- Intense competition among market players.
- Navigating regulatory complexities and meeting regional standards.
- Building trust and credibility with consumers.
- Educating consumers about the benefits and proper usage of supplements.
- Addressing concerns and skepticism regarding the safety and efficacy of supplements.
The report will include answers to the following key questions:
- What are the key current trends that can impact the product life cycle and return on investment?
- How do regulatory changes affect corporate, business, and functional strategies?
- Which initiatives by major players in micromarketing are likely to attract investment?
- What are the recommended frameworks and methodologies for conducting PESTLE analysis?
- In which areas are there emerging opportunities for growth and development?
- Which game-changing technologies will be instrumental in capturing new revenue streams in the near future?
- What operational and tactical frameworks are different players adopting to foster customer loyalty?
- What is the current level of market rivalry, and what is the expected degree of competition in the coming years?
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