Tea Market Overview
Tea Market is an aromatic beverage generally prepared by pouring boiling water over cured leaves or by boiling tea leaf/powder with addition of sugar and milk by consumer’s choice. Tea ranks 2 in terms of beverage consumption. Tea is one of the most popular beverages across the globe. Tea is consumed on daily basis for breakfast and during evening snack time. Moreover, huge employment opportunities created by the global tea market and the growing demand of green tea in weight loss and beauty & skin treatments are estimated to fuel the growth of the market in the near future. Globally the increasing demand for hot beverages is expected to boost the demand for tea by 6% from 2016 to 2023.
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Competitive analysis
The major key players in Tea Market are
- Lipton (U.K.)
- Tetley (England)
- Twinings (U.K.)
- Tata Tea Limited (India)
- Typhoo (U.K.)
- Wissotzky Tea (Israel)
- Akbar Tea (Sri Lanka)
- Nestle (Switzerland)
Market Forecast
Globally the Tea Market is mainly driven by increasing demand for hot and health beverages. Growing demand for healthy tea has boosted the sales of tea especially white tea, green tea and fruit and herbal tea. Rising awareness of healthy effects of green tea due to health benefits associated with tea is influencing the market growth. Many personal care products manufacturers are using green tea extracts for enhancing the health of skin which is also driving the demand of tea.
These factors will play a key role in the growth of tea market at the CAGR of 6% during 2016-2023.
By Application analysis
Tea Market are widely gaining popularity due to fast and busy lifestyle. RTD iced tea is perceived as an instant energy source and as a healthy alternative to carbonated drinks. Awareness about the health benefits of drinking tea such as antioxidant properties, rising population and also busy lifestyles, and increase in disposable income is making consumers opt for tea and iced tea. The ill effects of carbonated drinks are another factor responsible for the shift in demand towards the RTD tea. Green tea extracts is used in personal care products, as it has antioxidant properties.
Tea market is dominated by key manufacturers and very few new players are entering in tea market due to high investment cost require for, tea planting and tea processing. The global tea industry is expected to witness increase in mergers, acquisition and strategic alliance in upcoming years.
Regional Analysis
The global Tea Market is segmented into North America, Europe, Asia Pacific and Rest of the World (RoW). Among this Asia Pacific region is dominating the Tea market followed by Europe. Growing popularity of healthy beverages in world is driving the demand of tea beverages such as green tea, iced tea etc. Increasing disposable income and awareness about health benefits of tea in developing countries like India and China has creating the demand of Tea in Asia Pacific regions.
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Market Segmentation
Global Tea Market is segmented by packaging, type, form, distribution channel and region.
The market based on type has been segmented into black, white, green, oolong, and others.
The market based on form has been segmented into powder, leaves, and others.
The market has been segmented by packaging type into tea bags, bottles, cans, pouches, and others.
The market has been segmented by distribution channel into store based and non-store based.
The market has been segmented, by region, into North America, Europe, Asia-Pacific, and Rest of the World. The tea market in North America has further been segmented into the US, Canada, and Mexico.
The European tea market has been segmented into the UK, Germany, France, Italy, Spain, and
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