Tea Market Size, Share & Trends Analysis Report By Product (Black, Green, Oolong, Herbal) By Distribution Channel (Hypermarkets, Convenience Stores, Specialty Stores) By Region, And Segment Forecasts, 2024

Description

Tea Market Growth & Trends:

The global tea market size is expected to reach USD 91.98 billion in 2030 and is projected to grow at a CAGR of 7.4% from 2024 to 2030. Rising popularity of carbonated drinks coupled with rise in consumer disposable income, especially in emerging economies such as India, China, and Brazil will create robust product demand.

Tea, being a widely consumed beverage especially across Asia Pacific (APAC) and Middle East and Africa (MEA). It has gained immense popularity in other parts of the world as well, owing to its antioxidant properties. Presence of polyphenols, antioxidants, vitamins, and a variety of amino acids make it help strengthen the immune system. Additionally, it helps lower cholesterol levels, increase metabolism, and may help prevent cancer. It also contains a small amount of caffeine, which boosts its consumption as a mild stimulant.

Changing demographics, rise in disposable income of middle class population, especially in urban areas is anticipated to drive the product consumption and in turn drive the market. Millennials are anticipated to register the strongest growth, especially in countries such as China, Japan, Brazil, and India. Rising awareness regarding the benefits of drinking tea coupled with willingness to shell out money on the product is anticipated to bode well for the demand. Hence, to leverage this trend, a number of manufacturers are repositioning the product like a lifestyle brand to reach more consumers. They engage in social media campaigns and celebrity advertising to promote their new and premium flavors.

In 2018, black tea held the largest market share of about 39%. The product is predominantly produced and consumed in countries like India, China, Sri Lanka, and Kenya. Green tea is also anticipated to hold a significant market share over the forecast period. The product is a natural and organic detoxifying agent and hence, along with food and beverage, it also finds application in skin care and wellness products. It that has therapeutic properties to cure scars, helps manage weight, and to improves skin texture.

Oolong is a premium-quality product that apart from being used as a weight loss remedy, has innate properties to help prevent type 2 diabetes. Herbal tea includes hibiscus, tulsi, jasmine, and chamomile among numerous other flavors. These products are popular among consumers from European countries such as Germany and U.K. Typhoo, the British packaged tea brand currently owned by Kolkata, India-based, Apeejay Surrendra Group, which manufactures non-tea infusions, including organic herbal mixes due to declining black tea market, especially in the European countries.

Hypermarkets and supermarkets distribution channel segment held the market share of more than 38% in 2018, while convenience stores held the market share of around 32% in the same year. Specialty stores, such as Fabindia and Teafloor provide consumers with premium and exquisite brands and flavors. On the other hand, online channel is expected to expand at the fastest CAGR of 5.9% over the forecast period due to ease of payment methods and availability of a wide variety of products.

Most companies operating in the market engage in product innovation and R&D. They also focus on innovative advertising and social media campaigns to attract more target consumers. Tata Global Beverages entered into Ready-to-Drink segment with the introduction of green tea based drink, led by Tata Tea in India and Tetley in Canada.

Tea Market Report Highlights:

Asia Pacific held the largest market revenue share of 35.2% in 2023.
The black segment held the largest market revenue share of 39.1% in 2023and is projected to exhibit a significant rise in the next few years
The Middle East and Africa is projected to witness the fastest CAGR over the forecast period.
Online segment is projected to witness the fastest CAGR over the forecast period. Consumers are increasingly turning to online platforms for convenience and accessibility, allowing them to browse a wide range of tea varieties and brands from the comfort of their homes.

Product Code: GVR-3-68038-434-5

Chapter 1. Methodology and Scope

1.1. Market Segmentation& Scope
1.2. Market Definition
1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
1.4. Information Analysis
- 1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing

Chapter 2. Executive Summary

2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot

Chapter 3. Cake Mixes Market Variables, Trends, & Scope

3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related Market Outlook
3.2. Industry Value Chain Analysis
- 3.2.1. Sales/Retail Channel Analysis
- 3.2.2. Profit Margin Analysis
3.3. Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.2. Market Restraint Analysis
- 3.3.3. Industry Challenges
- 3.3.4. Industry Opportunities
3.4. Industry Analysis Tools
- 3.4.1. Porter's Five Forces Analysis
3.5. Market Entry Strategies

Chapter 4. Consumer Behavior Analysis

4.1. Demographic Analysis
4.2. Consumer Trends & Preferences
4.3. Factors Influencing Buying Decisions
4.4. Consumer Product Adoption Trends
4.5. Observations & Recommendations

Chapter 5. Global Tea Market: Product Estimates & Trend Analysis

5.1. Segment Dashboard
5.2. Global Tea Market: Product Movement Analysis, 2023 & 2030 (USD Million)
5.3. Black
- 5.3.1. Black Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.4. Green
- 5.4.1. Green Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.5. Oolong
- 5.5.1. Oolong Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
5.6. Herbal
- 5.6.1. Herbal Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 6. Global Tea Market: Distribution Channel Estimates & Trend Analysis

6.1. Segment Dashboard
6.2. Global Tea Market: Distribution Channel Movement Analysis, 2023 & 2030 (USD Million)
6.3. Hypermarkets & Supermarkets
- 6.3.1. Hypermarkets & Supermarkets Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.4. Convenience Stores
- 6.4.1. Convenience Stores Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.5. Specialty Stores
- 6.5.1. Specialty Stores Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
6.6. Online
- 6.6.1. Online Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 7. Global Tea Market: Regional Estimates & Trend Analysis

7.1. Global Tea Market Share, By Region, 2023 & 2030 (USD Million)
7.2. North America
- 7.2.1. North America Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. U.S.
  - 7.2.2.1. U.S. Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.3. Canada
  - 7.2.3.1. Canada Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.4. Mexico
  - 7.2.4.1. Mexico Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.3. Europe
- 7.3.1. Europe Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. UK
  - 7.3.2.1. UK Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.3. Germany
  - 7.3.3.1. Germany Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.4. France
  - 7.3.4.1. France Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.5. Italy
  - 7.3.5.1. Italy Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.6. Spain
  - 7.3.6.1. Spain Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.4. Asia Pacific
- 7.4.1. Asia Pacific Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. Japan
  - 7.4.2.1. Japan Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.3. China
  - 7.4.3.1. China Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.4. India
  - 7.4.4.1. India Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.5. Australia
  - 7.4.5.1. Australia Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.6. South Korea
  - 7.4.6.1. South Korea Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.5. Latin America
- 7.5.1. Latin America Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. Brazil
  - 7.5.2.1. Brazil Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. UAE
  - 7.6.2.1. UAE Global Tea Market Estimates and Forecasts, 2018 - 2030 (USD Million)

Chapter 8. Competitive Landscape

8.1. Recent Developments & Impact Analysis by Key Market Participants
8.2. Company Categorization
8.3. Company Heat Map Analysis
8.4. Company Profiles
- 8.4.1. Twinnings
  - 8.4.1.1. Participant's Overview
  - 8.4.1.2. Financial Performance
  - 8.4.1.3. Product Benchmarking
  - 8.4.1.4. Recent Developments/ Strategic Initiatives
- 8.4.2. Dilmah
  - 8.4.2.1. Participant's Overview
  - 8.4.2.2. Financial Performance
  - 8.4.2.3. Product Benchmarking
  - 8.4.2.4. Recent Developments/ Strategic Initiatives
- 8.4.3. Bigelow Tea Company
  - 8.4.3.1. Participant's Overview
  - 8.4.3.2. Financial Performance
  - 8.4.3.3. Product Benchmarking
  - 8.4.3.4. Recent Developments/ Strategic Initiatives
- 8.4.4. PepsiCo, Inc.
  - 8.4.4.1. Participant's Overview
  - 8.4.4.2. Financial Performance
  - 8.4.4.3. Product Benchmarking
  - 8.4.4.4. Recent Developments/ Strategic Initiatives
- 8.4.5. Yorkshire Tea
  - 8.4.5.1. Participant's Overview
  - 8.4.5.2. Financial Performance
  - 8.4.5.3. Product Benchmarking
  - 8.4.5.4. Recent Developments/ Strategic Initiatives
- 8.4.6. Starbucks Coffee Company
  - 8.4.6.1. Participant's Overview
  - 8.4.6.2. Financial Performance
  - 8.4.6.3. Product Benchmarking
  - 8.4.6.4. Recent Developments/ Strategic Initiatives
- 8.4.7. Unilever
  - 8.4.7.1. Participant's Overview
  - 8.4.7.2. Financial Performance
  - 8.4.7.3. Product Benchmarking
  - 8.4.7.4. Recent Developments/ Strategic Initiatives
- 8.4.8. Caraway Tea
  - 8.4.8.1. Participant's Overview
  - 8.4.8.2. Financial Performance
  - 8.4.8.3. Product Benchmarking
  - 8.4.8.4. Recent Developments/ Strategic Initiatives
- 8.4.9. Harris Tea Company
  - 8.4.9.1. Participant's Overview
  - 8.4.9.2. Financial Performance
  - 8.4.9.3. Product Benchmarking
  - 8.4.9.4. Recent Developments/ Strategic Initiatives
- 8.4.10. Republic of Tea
  - 8.4.10.1. Participant's Overview
  - 8.4.10.2. Financial Performance
  - 8.4.10.3. Product Benchmarking
  - 8.4.10.4. Recent Developments/ Strategic Initiatives

Tea Market Size, Share & Trends Analysis Report By Product (Black, Green, Oolong, Herbal) By Distribution Channel (Hypermarkets, Convenience Stores, Specialty Stores) By Region, And Segment Forecasts, 2024 - 2030