Global Tea Market is forecasted to grow at a CAGR of 4.5% in the forecast period 2019-2024.
- Global tea market is characterized by the black tea segment holding a prominent share. However, the maximum growth is estimated for green & herbal/flavored tea, due to the awareness about health benefits associated with them.
- Consumption of carbonated tea drinks are a new trend in the tea industry, which is further fuelling the growth of the tea market.
- Various tea manufacturing companies such as Bigelow, have introduced several flavors of tea, ranging from fruity to herbal flavors, creating a diversified portfolio of tea products for the customers.
Scope of the Report
Global tea market has been segmented by form, product type, distribution channel, and geography. By form, the tea market has been segmented into leaf tea, CTC tea, and other forms of tea. By type, the tea market has been segmented into black tea, green tea, a fermented tea, herbal tea, and other types of tea. By distribution channel, the market has been segmented as supermarkets/hypermarkets, specialist retailer, convenience stores, Online Retail Stores and other distribution channels. The other distribution channels include online retail stores and vending machines.
Key Market Trends
Increasing Acceptance of Green Tea
Consumer awareness about the health benefits of herbal and green tea can further drive the growth of the global tea market. Rise in disposable income of consumers, changes in taste and preferences, and introduction of additional healthy ingredients in tea by different market players are the other factors that fuel the market growth. The easy availability of tea is expected to encourage the growth of the Asia Pacific green tea market. World green tea production is expected to grow at a faster rate than black tea, reflecting the growth in China. However, the higher price of green tea in comparison with black tea is anticipated to restrict the growth of the global green tea market in the next few years. Nevertheless, the expansion of the product portfolio and the increasing marketing activities and advertising are expected to offer promising opportunities for the key players in the global green tea market.
Asia-Pacific Leading the Global Tea Market
Current tea consumption growth is being driven by rapid growth in per capita incomes, particularly in the developing countries of the Asia-Pacific region. A growing, increasingly urban young population segment entering the middle class is prepared to consume more and to pay for premium tea products. These changes have the potential to develop into a stronger and longer trend. Currently, Asia-Pacific is the largest market for tea consumption, with robust economic growth in a number of developing countries such as China, India, and Russia, which has created a large middle class with a preference for premium tea blends and brands, often upgrading their purchases from unpackaged tea to packed and bagged specialty varieties.
The global tea market is highly fragmented and competitive. The market has key players competing for major market share and small regional players catering to small regions. The key global players are based in North America and Europe, while various small players are based in Asia-Pacific, South America, and Eastern Europe. The key strategies adopted by the players in the market are expansions, innovations, and new product launches. For instance, Unilever is strengthening its presence with more products innovations such as machine compatible tea capsules.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Form
5.1.1 Leaf Tea
5.1.2 CTC Tea (Crush, Tear, Curl)
5.2 By Product Type
5.2.1 Black Tea
5.2.2 Green Tea
5.2.3 Others (White, Oolong)
5.3 By Distribution Channel
5.3.2 Specialist Retailer
5.3.3 Convenience Stores
5.3.4 Online Retailers
5.4.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.3 Asia Pacific
184.108.40.206 Rest of Asia Pacific
5.4.4 South America
220.127.116.11 Rest of South America
5.4.5 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.2 R.Twining and Company Limited
6.4.3 Tata Sons Private Limited
6.4.4 Hain Celestial
6.4.5 Ito En, Ltd
6.4.6 Bigelow Tea
6.4.8 Orientis Group (Kusmi Tea)
6.4.9 The Republic of Tea
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.