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Tea Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 122
  • SKU: IRTNTR40978
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The tea market share is expected to increase by USD 13.24 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 4.56%.

This tea market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers tea market segmentations by product (black tea, green tea, and others) and geography (APAC, Europe, North America, and South America). The tea market report also offers information on several market vendors, including Arteasans Beverages LLC, Associated British Foods Plc, ITO EN Ltd., Nestlé SA, Numi Inc., Starbucks Corp., Tata Global Beverages, The Hain Celestial Group Inc., The Republic of Tea, and Unilever Group among others.

What will the Tea Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Tea Market Size for the Forecast Period and Other Important Statistics

 

Tea Market: Key Drivers, Trends, and Challenges

The new product launches is notably driving the tea market growth, although factors such as impact of overconsumption of tea may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the tea industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Tea Market Driver

The new product launches is a key driving factor impacting the tea market growth . Consumers' preference is increasingly shifting from normal tea products to tea products, such as antioxidants and herbal tea, that provide health benefits. Vendors operating in the global tea market are launching new and innovative products to extend their existing tea product lines. Vendors in the global market are attracting more consumers by introducing new variants of tea, which also helps in increasing the sales volume and market share. In February 2018, under the green tea brand Twinings, Associated British Foods Plc launched its Superblends range, which is a selection of green tea and infusions that blend botanicals with natural flavors. Vendors also collect feedback on the quality of tea to further promote the launches. Therefore, new product launches are likely to propel the growth of the market in focus during the forecast period.

Key Tea Market Trend

Premiumization of functional tea products is key trending factor impacting the global tea market growth. Vendors in the global tea market offer a wide range of products with different flavors and qualities and in varying volumes and prices. Consumers prefer high-quality tea products containing natural or organic ingredients that provide health benefits. Premium products such as herbal tea and organic functional tea products are marked with USDA that ensures the organic quality of the product. Consumers' engagement is largely driven by premium products. To cover the complete spectrum of tea offerings, tea vendors focus on expanding their presence in the premium segment. To increase the adoption of premium tea products among consumers, vendors offer single packages with different tea flavors.Therefore, the premiumization of tea products is expected to propel the growth of the market in focus during the forecast period.

Key Tea Market Challenge

Impact of overconsumption of tea is one of the key challenges hindering the tea market growth. The intake of tea is good for health in various aspects. However, the excessive consumption of tea is not preferable. According to nutritionists, the ideal consumption of tea should not be more than three cups a day. The major threat of overconsumption of tea is that tea can be addictive. High intake of caffeine also leads to bloating, which is caused due to unwanted water retention because of dehydration. Overconsumption of tea may restrict the absorption of nutrients like iron in the body excessive intake of caffeine results in restlessness, insomnia, and anxiety. Similarly, excessive consumption of tea is also associated with various other side effects like osteoporosis (weakness of bones), stomach ache, nausea, and constipation. Therefore, the impact of overconsumption of tea may restrict the demand for tea in the global tea market during the forecast period.

This tea market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global tea market is a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the tea market during the forecast period.

Who are the Major Tea Market Vendors?

The report analyzes the global packaged foods and meats market’s competitive landscape and offers information on several market vendors, including:

  • Arteasans Beverages LLC
  • Associated British Foods Plc
  • ITO EN Ltd.
  • Nestlé SA
  • Numi Inc.
  • Starbucks Corp.
  • Tata Global Beverages
  • The Hain Celestial Group Inc.
  • The Republic of Tea
  • Unilever Group

This statistical study of the tea market encompasses successful business strategies deployed by the key vendors. The tea market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • Associated British Foods Plc - The company offers a range of tea products under the brand Twinings. Some of the key products include CHOCOLATE COCONUT INDULGENCE GREEN TEA and LEMON & GINGER.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The tea market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Tea Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the tea market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by vendors to ensure a sustainable market presence.

Which are the Key Regions for Tea Market?

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61% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for tea market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Globally, China is one of the major manufacturers and exporters of green tea, and India is one of the major manufacturers and exporters of black tea. Other prominent markets for tea in APAC include Japan, Sri Lanka, Vietnam, and Indonesia. The increase in consumption of tea is driving the growth of the tea market in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 affected the growth of the market in focus, owing to lockdown measures and social distancing norms. Governments imposed restrictions on the movement of vehicles and people, which affected the import and export of tea products in this region. Furthermore, the outbreak of COVID-19 affected trading in countries such as China and India, owing to economic downturns and disruptions in supply chains. This affected the import and export activities in the regional tea market. Also, the suspension of tea production between March 2020 and April 2020 largely affected small tea producers in the region. However, the recovery of economies from the COVID-19 crisis and the resumption of import-export activities are anticipated to propel market growth during 2021-2025.

What are the Revenue-generating Product Segments in the Tea Market?

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The tea market share growth by the black tea will be significant during the forecast period. The strong demand for black tea in countries such as Turkey, Saudi Arabia, Iran, and the UK is expected to be a major driving factor for the market during the forecast period. The consumption of black tea in Russia and the US is witnessing a slight decline, whereas the consumption of black tea in India and Turkey is growing progressively

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the tea market size and actionable market insights on post COVID-19 impact on each segment.

 

Tea Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 4.56%

Market growth 2020-2024

$ 13.24 billion

Market structure

Fragmented

YoY growth (%)

4.32

Regional analysis

APAC, Europe, North America, and South America

Performing market contribution

APAC at 61%

Key consumer countries

China, Japan, India, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Arteasans Beverages LLC, Associated British Foods Plc, ITO EN Ltd., Nestlé SA, Numi Inc., Starbucks Corp., Tata Global Beverages, The Hain Celestial Group Inc., The Republic of Tea, and Unilever Group

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Tea Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive tea market growth during the next five years
  • Precise estimation of the tea market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the tea industry across APAC, Europe, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of tea market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Packaged foods and meats

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Black tea - Market size and forecast 2020-2025
      • Exhibit 17: Black tea - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Black tea - Year-over-year growth 2020-2025 (%)
    • 5.4 Green tea - Market size and forecast 2020-2025
      • Exhibit 19: Green tea - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Green tea - Year-over-year growth 2020-2025 (%)
    • 5.5 Others - Market size and forecast 2020-2025
      • Exhibit 21: Others - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
    • 5.6 Market opportunity by Product
      • Exhibit 23: Market opportunity by Product

    6 Customer landscape

    • 6.1 Overview
      • Exhibit 24: Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 25: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 26: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 27: APAC - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 28: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 North America - Market size and forecast 2020-2025
      • Exhibit 31: North America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 33: South America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • Exhibit 40: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 41: Landscape disruption
          • Exhibit 42: Industry risks

        10 Vendor Analysis

        • 10.1 Vendors covered
          • Exhibit 43: Vendors covered
        • 10.2 Market positioning of vendors
          • Exhibit 44: Market positioning of vendors
        • 10.3 Associated British Foods Plc
          • Exhibit 45: Associated British Foods Plc - Overview
          • Exhibit 46: Associated British Foods Plc - Business segments
          • Exhibit 47: Associated British Foods Plc - Key offerings
          • Exhibit 48: Associated British Foods Plc - Segment focus
        • 10.4 Barrys Tea
          • 10.5 Bigelow Tea Co.
            • Exhibit 52: Bigelow Tea Co. - Overview
            • Exhibit 53: Bigelow Tea Co. - Product and service
            • Exhibit 54: Bigelow Tea Co. - Key offerings
          • 10.6 ITO EN Ltd.
            • Exhibit 55: ITO EN Ltd. - Overview
            • Exhibit 56: ITO EN Ltd. - Business segments
            • Exhibit 57: ITO EN Ltd. - Key offerings
            • Exhibit 58: ITO EN Ltd. - Segment focus
          • 10.7 Nestle SA
            • Exhibit 59: Nestle SA - Overview
            • Exhibit 60: Nestle SA - Business segments
            • Exhibit 61: Nestle SA - Key news
            • Exhibit 62: Nestle SA - Key offerings
            • Exhibit 63: Nestle SA - Segment focus
          • 10.8 Numi Inc. PBC
            • Exhibit 64: Numi Inc. PBC - Overview
            • Exhibit 65: Numi Inc. PBC - Product and service
            • Exhibit 66: Numi Inc. PBC - Key news
            • Exhibit 67: Numi Inc. PBC - Key offerings
          • 10.9 Tata Consumer Products Ltd.
            • Exhibit 68: Tata Consumer Products Ltd. - Overview
            • Exhibit 69: Tata Consumer Products Ltd. - Product and service
            • Exhibit 70: Tata Consumer Products Ltd. - Key news
            • Exhibit 71: Tata Consumer Products Ltd. - Key offerings
          • 10.10 The Hain Celestial Group Inc.
            • Exhibit 72: The Hain Celestial Group Inc. - Overview
            • Exhibit 73: The Hain Celestial Group Inc. - Business segments
            • Exhibit 74: The Hain Celestial Group Inc. - Key news
            • Exhibit 75: The Hain Celestial Group Inc. - Key offerings
            • Exhibit 76: The Hain Celestial Group Inc. - Segment focus
          • 10.11 The Republic of Tea
            • Exhibit 77: The Republic of Tea - Overview
            • Exhibit 78: The Republic of Tea - Product and service
            • Exhibit 79: The Republic of Tea - Key news
            • Exhibit 80: The Republic of Tea - Key offerings
          • 10.12 Unilever Group
            • Exhibit 81: Unilever Group - Overview
            • Exhibit 82: Unilever Group - Business segments
            • Exhibit 83: Unilever Group - Key offerings
            • Exhibit 84: Unilever Group - Segment focus

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 85: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 86: Research Methodology
              • Exhibit 87: Validation techniques employed for market sizing
              • Exhibit 88: Information sources
            • 11.4 List of abbreviations
              • Exhibit 89: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            The tea market market growth will increase by $$ 13.24 bn during 2021-2024.
            The tea market market is expected to grow at a CAGR of 4.56% during 2021-2024.
            Technavio has segmented the tea market market by product (black tea, green tea, and others) ,geography (APAC, Europe, North America, South America, and Others) , and geographic (APAC, Europe, North America, and South America).
            Arteasans Beverages LLC, Associated British Foods Plc, ITO EN Ltd., Nestlé SA, Numi Inc., Starbucks Corp., Tata Global Beverages, The Hain Celestial Group Inc., The Republic of Tea, Unilever Group are a few of the key vendors in the tea market market.
            APAC will register the highest growth rate of 61% among the other regions. Therefore, the tea market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the tea market market growth are:
            • New product launches
            • Premiumization of functional tea products
            The tea market market vendors should focus on grabbing business opportunities from the black tea segment as it accounted for the largest market share in the base year.
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