This report titled “Tea Market - Growth, Future Prospects, and Competitive Analysis, 2023 – 2030” offers strategic insights into the trends in the global tea market along with the market size and forecast for the duration 2023 to 2030. The said research study incorporates in-depth analysis of multiple market segments based on product type and geographical distribution.

The global tea market is becoming increasingly competitive with growing number of mergers and collaborations between market players to reach full capabilities and gain international footprint. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across Asia Pacific, North America, and Europe.  

Based on product types, the global tea market is categorized into leaf tea, CTC tea and others. On the basis of leaf tea type, this segment is further categorized into green tea, black tea, and oolong tea. Market size and forecast for all the considered segmentation is presented in this report for the period 2020-2030 (US$ Mn) along with their respective CAGRs for the forecast period 2023-2030 (Value %).

Along with the quantitative information sets, this report also provides qualitative information such as market dynamics and executive summary for the global tea market. Tools such as competition assessment and attractive investment proposition are also included in the report to provide the readers with competitive mapping assistance. This study concludes with company profiles section. This section includes major information about the key companies engaged in manufacturing of tea. The major companies profiled in this report include Wissotzky Tea Inc., Unilever Ltd., Akbar Brothers Ltd., Twinings of London Ltd., Tata Global beverages Ltd., Associated British Foods plc, Nestle S.A., Da Yi Tea Grp, Barry’s Tea, McLead Russel Ltd., Harney and Sons Ltd., and Teavana Ltd.         

Changing lifestyle provide an opportunity to the tea industry as the growing middle class and urbanized population of many emerging and developing markets influence the consumption of tea. The black tea segment is expected to contribute relatively high revenue over the forecast period. Green tea segment is also expected to witness favorable revenue growth in the global tea market. The major factors that drive the global market for green tea include growing consumer awareness for healthy and safe products and the growing number of people suffering from obesity, cancer digestive disorders. It is estimated that by 2020 the overweight population will increase to 60 million, which will drive the demand for green tea in future. Among all major markets for type, black tea and green tea segments are expected to witness significant growth rates over the forecast period.

At present, Asia Pacific and North America are the largest regional markets for tea manufacturing. These regions are domicile for several large, mid and small-sized (niche) tea manufacturers that offer a wide range of products. Tea market is also rapidly picking up pace in North America and Europe when compared with other regions. Urge for cost containment and focus on core competencies, along with growing need for skilled workforce are the key market derivers in these regions. On the other hand, Asia Pacific is the fastest growing market for tea manufacturing. Availability of huge resource in the region along with offering of competitive service pricing, and emergence of several large-sized companies in the region make Asia Pacific a significantly lucrative hub for tea manufacturing. China and India are anticipated to be the most prominent country-level markets for tea during the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Tea market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Tea market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Tea market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Tea market?
• Which is the largest regional market for Tea market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Tea market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Tea market worldwide?