Global Tea Market to Develop at 2.8% CAGR between 2014 and 2020 to Reach US$47.20 Billion by 2020

2024-11-07 08:17:01 Lifestyle

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The global tea market is expected to witness a significant growth during the forecast period. This is due to increasing demand from a growing segment of the population for different flavors of tea. Globally, the most popular and lowest cost beverage after water is tea. A wide range of age group all across the world consumes it. A large number of people earn their livelihood through the production and processing of tea. Tea consumption is gaining popularity due to the antioxidants properties of tea leaves due to which they are widely used to treat cancer, reduce risk of heart attacks, prevent arthritis, improve bone density, and control blood pressure among others.

The report comprises a detailed description regarding the forecast and analysis of the tea market globally. The forecast provided in the report is based on volumes (kg billion) and revenue (USD billion) for the period ranging from 2014 to 2020. For better understanding of the tea market, we have given a detailed analysis of the drivers and restraints of the tea market and their impact on the market growth within the forecast period. Furthermore, the scope of the report covers market attractiveness analysis, where the product types of tea are analyzed based on their market size, growth rate and general attractiveness. We have also covered the existing market scenario for tea and highlighted future trends that are likely to affect the demand for tea. In addition, the study also includes a detailed competitive landscape comprising the market share of the top companies.

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The market has been segmented into by product type and by geography. Each segment is forecast in terms of revenue (USD billion) and volume (Kg billion). The global tea market, by product type is segmented into ? leaf tea and CTC tea (crush, curl and tear). Leaf tea is further categorized into black tea, green tea and oolong tea. Tea is consumed in two forms ? packaged and loose. However, loose tea holds the major market share but packaged tea manufacturers are focusing on increasing their market share by raising the quality of tea and launching different flavor of tea. The market for CTC tea is comparatively larger as compared to leaf tea market. Growing consumer demand for hot beverages such as tea and easy availability at low price is a driving factor behind the growth of global CTC tea. The tea market is primarily driven by the increasing consumer interest in healthy products. People prefer to have tea not only as a refreshment beverage; it also helps to gain different health benefits.

By geography, the market has been segmented into North America, Europe, Asia-Pacific and RoW. Increasing demand for hot beverages and low price of tea are fueling the growth of tea market. Under Asia Pacific region, India and China are the major producer and consumer of tea. Moreover, these countries are involved in exporting tea in different countries. Due to increasing demand for tea, producers are focusing on producing different flavor of tea to meet the consumers need. They are upgrading their production to attract more consumers. The forecast also includes the current market size and forecast till 2020.

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The report also analyzes different factors influencing and inhibiting the growth of the tea market. The market attractiveness analysis provided in the report highlights major areas ripe for investment in this industry. The report will help the producers, suppliers and distributors to understand the current and future trends in this market and formulate their business strategies accordingly.

Some key players in this market include Twinning of London, Unilever, Wissotzky Tea, Akbar Brothers Ltd. and Tata Global Beverages Ltd among others. Tea is sold through a variety of channels. The existence of a strong distribution channel is among the key drivers behind the growth of tea market. Major distribution channels such as hypermarkets / supermarkets, retailers, general merchandisers, convenience stores, food and drinks specialists are among the most preferred channels for the sale of tea. Convenience stores and supermarkets have become popular channels for purchase of goods due to improvement in the living standard of people in several developed countries. Supermarkets and hypermarkets are likely to dominate the distribution channels by 2020.

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