Global tea market has witnessed an impressive growth over the last few years.
Tea is one of the most popular beverages across the globe. Tea contains antioxidants, flavonoids and phytochemicals which aid to maintain a healthy function of the human body. The tea market has been witnessing a continual growth over the last few years. The growth of the tea market is anticipated to be driven by various factors. Increasing new product development is one of the major factors of rising growth of global tea market. Tea is available in wide range of flavors. Increasing consumer inclination towards the different flavored is positively impacting the sales of global tea market.
The demand of green tea is expected to witness a massive growth in the future due to the health benefits such as anti- aging and weight loss. Increasing huge growth of food service industry is anticipated to fuel the growth of global tea market. Consumers are opting for specialty iced tea due to the wide availability of the products. Increasing consumer preference towards the iced tea is attributed to the launch of various new flavored tea. Also, strong distribution channel of the fast-moving consumer goods is likely to enhance the growth of tea market at a global level.
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Latest Industry Updates:
June 2018 Coca Cola Co. has launched their first tea products in Europe
Dec 2017 Testa River Tea introduced their tea products in online platform (amazon)
Sep 2017 Unilever has introduced its new tea products in the U.S. under the brand name of Lipton
The tea market is competitive with major market players operating at the global level. The tea market is highly fragmented owing to the presence of local & unorganized players. Key manufacturers are launching new products in order to enhance the overall product portfolio of the company. Also, the key players are expanding their business across geographies to cater the rising demand for tea. Apart from that, key manufacturers are emphasizing in various promotional events in supermarkets & hypermarkets in order to attract the customers and also to create strong awareness regarding their new product launch in the market. Apart from that, key manufacturers are emphasizing in the packaging of the products in order to attract the new customers and also to enhance the brand value of the company.
The key players profiled in tea report are Lipton (U.K.), Twinings (U.K.), Tetley (England), Tata Tea Limited (India), Wissotzky Tea (Israel), Typhoo (U.K.), Akbar Tea (Sri Lanka), and Nestle S.A. (Switzerland) among many others.
Global tea market has been divided into type, packaging, form, distribution channel, and Region
On the Basis of Type: Black tea, White tea, Green tea, Oolong tea, and Others
On the Basis of Packaging: Loose tea, Tea bags, Instant tea, Bottled & canned tea, and Others
On the Basis of Form: Powder, Leaf, and Others
On the Basis of Distribution Channel: Food retail (Supermarkets & Hypermarkets, Convenience stores specialty retailers, and others), and Food service
On the Basis of Region: North America, Europe, Asia Pacific, and Rest of the World
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The global tea market is segmented by region which comprises of North America, Europe, Asia Pacific and Rest of the World. Among all the regions, Asia Pacific is accounting for significant market share in global tea market and it is expected to retain its dominance throughout the forecast period of 2017-2022. The growth of the tea in Asia Pacific region is anticipated to be driven by the various factors. Increasing population in the developing economies of Asia Pacific region is the key factors for the rising growth of tea market in Asia Pacific region.
The consumption of tea is high in the Asia Pacific region because consumers prefer tea multiple times a day. Rising growth of quick service restaurants & cafes has resulted in increasing demand for tea across the Asia Pacific region, is expected to be the key factors for the increasing growth of tea. Asia Pacific region is projected to expand at a high growth rate during the forecast period. China & India are collectively accounting for major market share in the Asia Pacific Tea market. Europe is also expected to hold 30% market proportion in the global tea market.
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