Tea is a hot beverage prepared by brewing or boiling the dried leaves of the plant Camellia sinensis. It finds its origin in China and is considered as the world’s second most popular beverage after water. This is mainly due to the convenience that tea offers as it can be prepared easily and quickly by anyone. The popularity of tea can also be attributed to the dietary properties of tea leaves.
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Competitive Landscape & Supplier Analysis:
1. Unilever
2. Tata Tea
3. Twinings
4. McLeod Russel
5. James Finlay
It contains a particular variety of polyphenols known as catechins which help to fight cancer, tumours and unwanted genetic changes. Drinking tea is also associated with benefits such as strong immune system, controlled blood pressure along with reduced risks of diabetes and dental decay. According to a new report by Expert Market Research, the global tea market reached a volume of 6.1 Million Tons in 2018 and is further expected to reach 7.5 Million Tons by 2024.
The market growth can be highly accredited to the changing consumer preferences towards healthier beverages. Rising awareness about the myriad health benefits of tea acts as a predominant force driving its popularity. Moreover, the increasing trend of ready-to-drink tea has also influenced its global demand significantly. Introduction of new flavours and convenient packs is another key factor that has helped maintain a constant demand for tea across the world.
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Expert Market Research has analysed the global tea market according to type, tea formats, major regions:
Market Breakup by Type:
1. Black Tea
2. Green Tea
3. Others (White Tea/Oolong Tea)
Market by Tea Formats:
1. Loose tea
2. Square chamber
3. Double- chamber tagged
4. Pyramid
Market Breakup by Region:
1. China
2. India
3. Kenya
4. Sri Lanka
5. Turkey
6. Vietnam
7. Others
Key findings from the report:
1. The different types of tea Include Black Tea, Green Tea and Others (White Tea/Oolong Tea). In 2018, Black Tea represented the most popular type of tea with a share of more than a half of the total global consumption.
2. Various formats of tea include loose, simple square chamber, double chamber bags or pyramids.
3. Region-wise, China dominated the market with a share of more than a fifth of the total global production in 2018. Some of the other markets include India, Kenya, Sri Lanka, Turkey, Vietnam and Others.
4. Some of the key players operating in the market are Unilever, Tata Tea, Twinings, McLeod Russel and James Finlay. These players are actively experimenting with different flavour profiles such as chocolate, pomegranate, acai and turmeric to tea sachets.
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