Growing influence of online retailing is a key trend that is expected to impact market growth. The average amount of money spent online per transaction and the number of transactions that take place are on the rise globally. The increase in the number of internet users and the "buy it now" attitude of the users are contributing to the growth of this retail channel.
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In this report, Technavio analysts highlight the growing accessibility to green tea products through organized retailing as a key factor contributing to the growth of the global green tea market:
Growing accessibility to green tea products through organized retailing
Organized retailers have grown significantly across major countries around the world due to the rapid proliferation of hypermarkets, specialty stores, and supermarkets. Convenience products such as RTD green tea powders and blends are predominantly sold by large and organized retailers as manufacturers in the market distribute their products primarily through them.
Supermarkets are one of the major distribution channels that supply nutritious, convenient, and affordable food and beverage products. In 2016, the growing population worldwide triggered the demand for organized retailing outlets such as supermarkets. Over the same year, the US had a tally of 38,000 supermarkets, which is expected to grow exponentially during the forecast period.
“Latin American nations such as Brazil, Chile, and Mexico have a high penetration of supermarkets. Rapidly developing countries such as India are witnessing a high growth rate of supermarkets, which can be attributed to growing urbanization and rising disposable incomes. Thus, the rising demand for supermarkets in developing countries will be beneficial for manufacturers of products such as RTD green tea powders, and green tea blends,” says a senior analyst at Technavio for non-alcoholic beverages research.
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Global green tea market segmentation
This market research report segments the global green tea market by product (flavored green tea and unflavored green tea), and key regions (the Americas, APAC, and EMEA).
Of the two major product segments, the flavored green tea segment held the largest market share in 2017, accounting for over 73% of the market. The market share for this segment is expected to increase by a further 3% by 2022.
In 2017, the global green tea market was dominated by APAC with a revenue share of over 66%, followed by EMEA and the Americas. One of the key influential factors contributing to increased sales in the APAC region is increasing awareness about the health-promoting benefits of green tea. Additionally, the growing number of supermarkets, hypermarkets, discount stores, and convenience stores in major green tea markets of the world is a key factor that will drive the growth of the market during the forecast period.
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