This report, titled “Tea Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025,” offers strategic insights into the trends in the global tea market along with the market size and forecast for the duration of 2017–2025. The said research study incorporates an in-depth analysis of multiple market segments based on product type and geographical distribution.
The global tea market is becoming more competitive, with a growing number of mergers and collaborations among market players to achieve full capabilities and a global footprint. This market’s rapid growth has also resulted in the creation of additional skilled job opportunities in major hubs across the Asia Pacific, North America, and Europe.
Based on product types, the global tea market is classified into leaf tea, CTC tea, and others. On the basis of leaf tea type, this segment is further classified into green tea, black tea, and oolong tea. This report presents the market size and forecast for all segments considered for the period 2015-2025 (US$ Mn), as well as their respective CAGRs for the forecast period 2017-2025 (value%).
In terms of geographical distribution, the global tea market is studied for five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Market size and forecasts for each regional and country-level market are included in the report for the considered periods. To further elucidate,
The geographical distribution of the global tea market is as follows:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Along with the quantitative information sets, this report also provides qualitative information, such as market dynamics and an executive summary of the global tea market. The report also includes tools to help readers with competitive mappings, such as competition assessment and appealing investment propositions. This study concludes with a company profile section. This section includes major information about the key companies engaged in the 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 Group, Barry’s Tea, McLead Russell Ltd., Harney and Sons Ltd., and Teavana Ltd.
Based on the product type, the global tea market is segmented as follows:
- Leaf Tea
- Green Tea
- Black Tea
- Oolong Tea
- CTC Tea (crush, tear, curl)
- Others (herbal tea, flavored tea, others)
As the growing middle class and urbanized population of many emerging and developing markets influence tea consumption, changing lifestyles present an opportunity for the tea industry. The black tea segment is expected to contribute relatively high revenue over the forecast period. The 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 of healthy and safe products and the growing number of people suffering from obesity, cancer, and 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 the future. Among all major markets by type, the black tea and green tea segments are expected to witness significant growth rates over the forecast period.
For the purpose of this study, the global tea market is categorized into:
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
At the moment, the two largest regional markets for tea manufacturing are Asia Pacific and North America. These regions are home to several large, midsize, and small (niche) tea manufacturers that offer a wide range of products. The tea market is also rapidly picking up pace in North America and Europe when compared with other regions. The urge for cost containment and focus on core competencies, along with the growing need for a skilled workforce, are the key market drivers in these regions. On the other hand, Asia Pacific is the fastest-growing market for tea manufacturing. The availability of huge resources in the region, along with the offering of competitive service pricing and the emergence of several large 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.