USD 98.94 Billion
Tea Market Size, Share, Growth Analysis, By Type(Green Tea, Black Tea, Oolong Tea, Fruit/Herbal Tea), By Packaging(Plastic Containers, Loose Tea, Paperboards, Aluminum Tins), By Form(Leaf Tea, CTC Tea, Others), By Distribution Channel(Supermarkets/Hypermarkets, Specialist Retailers, Convenience Stores, Other), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2372 |
Region:
Global |
Published Date: August, 2024
Pages:
198
|Tables:
67
|Figures:
80
Tea Market Insights
Tea Market size was valued at USD 98.94 billion in 2022 and is poised to grow from USD 105.87 billion in 2023 to USD 181.90 billion by 2031, growing at a CAGR of 7% in the forecast period (2024-2031).
The international tea marketplace is a vibrant and numerous enterprise that maintains regular increase and innovation. Tea, a beverage deeply ingrained in cultures globally, has a visible increasing reputation because of its health benefits and flexibility. In recent years, the marketplace has witnessed a shift toward top class and area of expertise teas, pushed by consumer calls for particular flavors and reports. Asia remains the epicenter of tea production, with nations like China and India dominating both production and intake. However, regions like Africa and South America are also emerging as key gamers in the market, contributing to the global supply of tea. One wonderful trend is the growing interest in herbal and distinctiveness teas, pushed with the aid of fitness-conscious customers in search of herbal treatments and wonderful taste profiles. Green tea, particularly, has received prominence for its antioxidant houses and potential health benefits, leading to expanded intake in Western markets. The convenience component has spurred the increase of prepared-to-drink (RTD) tea merchandise, including bottled and canned teas, catering to on-the-pass customers. Additionally, e-commerce structures have facilitated admission to an extensive variety of tea merchandise, fostering global trade and establishing new markets.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Black Tea
Fastest Growth
Black Tea
Growth Rate
7.00% CAGR
Tea Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Tea Market Segmental Analysis
The tea marketplace is segmented based on type, form, packaging, distribution channel, and region. By type, the market is segmented into green tea, black tea, oolong tea, fruit/herbal tea, and others. Based on form, the market is segmented into leaf tea, CTC tea, and others. By packaging, the market is segmented into plastic bins, unfastened tea, paperboard, aluminium tins, and tea luggage. By distribution channel, the market is segmented into supermarkets/hypermarkets, speciality stores, comfort shops, online stores, and others. By region, the marketplace is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Analysis By Type
In the global tea marketplace, Black tea has traditionally been one of the dominant segments. It is a distinctly popular sort of tea in many nations, including India, Sri Lanka, and various elements of Africa. Black tea is understood for its robust taste and dark color, and it's regularly consumed with milk and sugar in many regions. Its recognition is because of its flavor and its versatility in getting used as a base for various flavored and combined teas.
On the alternative hand, Green tea has been one of the quickest-developing segments within the international tea marketplace due to its perceived fitness benefits. It is popular in lots of components of Asia and has gained popularity in Western nations as well. Green tea is understood for its capacity for antioxidant residencies and is regularly related to various health benefits, along with weight control and stepped forward cardiovascular fitness. As consumers come to be more fitness-aware, the demand for inexperienced tea has been regularly increasing.
Analysis By Packaging
In the worldwide tea marketplace, tea baggage constitutes the dominant phase. Tea bags have maintained their dominance in the global tea market because of their comfort and ease of use. They provide pre-measured portions of tea, decreasing the problem of measuring loose leaves. Tea luggage additionally offer consistent taste and are tremendously portable, making them a famous preference for consumers at the cross. Moreover, they frequently are available in various flavors and blends, catering to numerous client possibilities. With a growing call for convenience and the rising reputation of specialty teas, tea baggage continues to maintain a great marketplace share.
On the other hand, the fastest-developing phase within the worldwide Tea market is Plastic bins. This growth can be attributed to the increasing awareness of environmental sustainability and the want for eco-friendly packaging answers. Many tea businesses are now adopting recyclable and reusable plastic containers, which no longer simplest help in decreasing environmental impact however additionally provide better safety for tea leaves against moisture and air. These containers are durable and may be used for numerous tea types, together with free tea, tea bags, and tea blends. As purchasers turn out to be extra aware of the surroundings, the call for sustainable plastic packaging inside the tea industry is expected to witness large growth in the coming years.
Tea Market By Type
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Tea Market Regional Insights
The international tea market is analyzed primarily based on its nearby presence, which incorporates North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia-Pacific, specially China and India, has traditionally been the dominant pressure inside the global tea market. These countries are not simply the largest manufacturers of tea but actually have a rich cultural history associated with tea consumption. China, famous for its inexperienced and oolong teas, and India, regarded for its robust black teas, have a huge proportion of the worldwide tea production and export marketplace. Additionally, nations like Japan, Sri Lanka, and Taiwan make a contribution to the location's tea dominance with their precise tea sorts.
As for the fastest growing section, North America, comprising America and Canada, has witnessed a sizable boom within the tea marketplace in recent years. Consumers are increasingly searching for healthier beverage options, and tea fits this trend due to its several fitness advantages. The place has seen a surge in areas of expertise tea shops, geared up-to-drink tea products, and revolutionary tea blends. Moreover, natural and flavored teas have gained recognition, attracting a wider target audience past traditional tea drinkers. As consumer choices shift closer to more numerous and premium tea options, North America has emerged as one of the fastest-growing areas inside the global tea marketplace.
Tea Market By Region
- Largest
- Fastest
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Tea Market Dynamics
Drivers
Health and Wellness Trends:
- One of the main drivers of the global tea marketplace is the increasing client cognizance of the fitness blessings related to tea intake. Tea, specially inexperienced and herbal teas, is perceived as a more fit opportunity to sugary liquids like sodas. Tea is rich in antioxidants and has diverse health blessings, which include improving coronary heart fitness, aiding in weight management, and reducing the threat of continual sicknesses. As extra consumers prioritize health and wellness, the demand for tea as a herbal and healthy beverage choice is anticipated to develop.
Diverse Product Offerings:
- Tea producers and businesses had been innovating and diversifying their product offerings to cater to a wide variety of consumer preferences. This includes introducing flavored teas, strong point blends, and functional teas like detox teas and electricity-boosting teas. These various product offerings appeal to extraordinary demographics and tastes, attracting a bigger customer base and driving market increase. Additionally, geared up-to-drink (RTD) tea products have gained popularity, offering comfort to clients who are continually on the move.
Restraints
Climate Change and Sustainability Challenges:
- Climate change poses a huge chance to the global tea industry. Tea cultivation is fairly dependent on precise climate conditions, and shifts in temperature and precipitation styles can affect tea yields and excellent. Prolonged droughts, erratic weather, and the increasing occurrence of pests and diseases can disrupt tea production. Moreover, sustainability worries related to land use, water utilization, and pesticide residues can impact the industry's recognition and get right of entry to markets with stricter policies. Addressing those sustainability demanding situations is a restraint that the tea industry should grapple with.
Competition from Other Beverages:
- While tea consumption is developing, the worldwide beverage marketplace is particularly aggressive. Tea competes with an extensive variety of other liquids, along with coffee, tender drinks, electricity drinks, and bottled water. The availability of diverse beverage picks and changing purchaser options can restrict the boom ability of the tea marketplace. Companies in the tea industry want to differentiate their merchandise and advertising and marketing techniques to live competitively and keep or gain marketplace share.
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Tea Market Competitive Landscape
The international tea market is characterized by using extreme opposition among diverse gamers, both large multinational companies and smaller nearby producers. Major multinational businesses like Unilever, Tata Global Beverages, and Nestlé dominate the marketplace with an extensive range of tea manufacturers and merchandise. These enterprise giants leverage their extensive distribution networks and advertising abilities to keep an extensive marketplace percentage. Additionally, there is a growing trend in the direction of top class and strong point teas, mainly due to the emergence of boutique tea brands and artisanal producers. Companies like Harney & Sons and Teavana have capitalized on this trend through supplying unique and first rate tea blends. E-trade systems have also played a crucial function in leveling the playing field for smaller tea groups, permitting them to attain a global customer base. Furthermore, sustainability and moral sourcing have emerged as important elements inside the tea enterprise's competitive landscape. Consumers are increasingly more traumatic environmentally pleasant and socially accountable tea products, pushing corporations to adopt sustainable practices and certifications.
Top Player’s Company Profile
- Unilever (United Kingdom/Netherlands)
- Tata Global Beverages (India)
- Nestlé (Switzerland)
- Tetley (United Kingdom)
- Coca-Cola (United States)
- Associated British Foods (ABF) (United Kingdom)
- Celestial Seasonings (United States)
- Twinings (United Kingdom)
- Bigelow Tea Company (United States)
- Peet's Coffee & Tea (United States)
- R.Twining and Company Ltd (United Kingdom)
- Mighty Leaf Tea (United States)
- Hain Celestial Group (United States)
- ITO EN (Japan)
- Numi Organic Tea (United States)
- The Republic of Tea (United States)
- Teavana (United States)
- Dilmah (Sri Lanka)
- Yorkshire Tea (United Kingdom)
- Ahmad Tea (United Kingdom)
- Harney & Sons (United States)
- Lipton (United Kingdom/Netherlands)
- PG Tips (United Kingdom)
- Typhoo (United Kingdom)
- Tazo (United States)
Recent Developments
- In November 2022, Dabur India Limited launched Dabur Vedic Tea, a top rate black tea that incorporates 30+ ayurvedic herbs that offer fitness advantages and boosts immunity.
- In November 2022, Tata Consumer Products elevated its green tea portfolio with the launch of Tetley Green Tea with tulsi taste. Green tea improves immunity and is rich in vitamin C.
- In July 2022, CVC Capital Partners Fund VIII finished the acquisition of Ekaterra, the tea business owned with the aid of Unilever.
- In March 2023, the Tea Board of India announced a brand new initiative to sell the intake of uniqueness teas inside the u . S .. The initiative consists of a sequence of recognition campaigns and academic packages.
- In May 2023, the World Tea Expo, the world's biggest tea exchange display, was held in Las Vegas, Nevada. The event featured over three hundred exhibitors from around the world showcasing their modern-day tea products and improvements.
Tea Key Market Trends
- Increasing Demand for Specialty Teas: One splendid trend in the international tea marketplace is the developing demand for uniqueness teas. Consumers had been turning into extra discerning about the varieties of tea they eat, seeking out unique and premium tea varieties. This fashion encompassed diverse categories, which includes herbal teas, natural teas, artisanal blends, and unmarried-starting place teas. As customers became greater fitness-aware and sought natural and unique flavors, forte teas gained reputation.
- Shift Towards Health and Wellness: Health and well-being were substantial drivers inside the worldwide tea marketplace. Consumers were increasingly seeking out liquids that provide health advantages. This brought about a surge inside the consumption of inexperienced tea, natural teas, and different functional teas regarded for their potential fitness-promoting residences, which includes antioxidants and anti inflammatory outcomes. Tea corporations spoke back through introducing new products and advertising and marketing campaigns highlighting those fitness benefits.
Tea Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our international tea marketplace evaluation, the marketplace has experienced a good sized boom and transformation in recent years. This can be attributed to several key elements which have fashioned the industry's dynamics. Firstly, the growing fitness focus among clients has driven the call for tea, given its perceived fitness benefits and herbal elements. Green tea, natural teas, and unique blends have won popularity as an end result. Additionally, globalization and cultural alternatives have multiplied the style of teas to be had internationally. Traditional teas from regions like China, India, and Japan are now complemented by means of revolutionary blends and flavors catering to diverse tastes and choices. E-trade and digital advertising have played an essential function in attaining purchasers at once, enabling tea manufacturers to establish a worldwide presence. Sustainability and ethical sourcing have also ended up outstanding issues, prompting the adoption of green practices and certifications. However, challenges which include weather exchange impacting tea cultivation, fluctuating commodity prices, and the emergence of alternative drinks pose potential threats to the market. To thrive, tea corporations need to innovate, emphasizing sustainability, and tap into emerging markets, ensuring that the global tea market remains robust and dynamic.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 98.94 billion |
| Market size value in 2031 | USD 181.90 billion |
| Growth Rate | 7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Tea Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Tea Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Tea Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Tea Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Tea Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Tea Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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