Tea is an aromatic beverage that is prepared by pouring hot or boiling water over cured or fresh leaves of Camellia sinensis. Tea is considered as a healthy beverage due to several potent antioxidants and minerals such as potassium, manganese, magnesium, & calcium. There are various types of tea available in the market, including green tea, oolong tea, black tea, herbal tea, white tea, matcha tea, chamomile tea, rose tea, hibiscus tea, chrysanthemum tea, and many more. Black tea and green tea are considered as the most popular tea among consumers, while herbal tea is gaining popularity.
MARKET SCOPE
The "Global Tea Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the tea market with detailed market segmentation by type, form, category, distribution channel, and geography. The report provides key statistics on the market status of the leading tea market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global tea market is segmented into green tea, black tea, oolong tea, herbal tea, and others.
- Based on form, the global tea market is segmented into loose leaf, tea bags, others.
- On the basis of category, the market is segmented into organic and conventional.
- Based on distribution channel, the market is bifurcated into supermarkets and specialty stores, hypermarkets, convenience stores, online retail, and others.
MARKET DYNAMICS
Drivers
- Rise in disposable income of consumers, changes in taste & preferences, and introduction of additional healthy ingredients in tea.
- Easy availability of different types of tea in the global market, add inputs to the growth of tea market.
- Increase in demand for herbal tea & green tea.
- Introduction of new flavor & variety of tea.
Restraints
- Increase in trend of coffee consumption and fluctuating prices of raw materials caused by unpredictable climatic conditions.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The tea market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the tea market in these regions.
IMPACT OF COVID-19 ON TEA MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the tea market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from tea market are anticipated to lucrative growth opportunities in the future with the rising demand for tea in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the tea market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Associated British Foods Plc.
- Barry's Tea Limited
- Hain Celestial Group, Inc.
- Ito En, Ltd.
- Mcleod Russel India Limited
- Nestle S.A.
- Taetea
- Tata Global Beverages
- The Republic of Tea, Inc.
- Unilever Plc
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.