Asia-Pacific Tea Market Outlook to 2023 - Leaf Tea Variety is Expected to Grow With the Highest CAGR Owing to its Health Benefits - ResearchAndMarkets.com

DUBLIN--()--The "Asia-Pacific Tea Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The Asia-Pacific tea market is expected to register a CAGR of 2.4% during the forecast period, 2018-2023. India, Japan, and China are the largest consumers of tea in the Asia-Pacific region.

The tea industry is segmented by type, sales channel, and geography. Furthermore, tea is also segmented based on production and processing into CTC (crush, tear, and curl tea) and leafy (consisting of black, green, oolong, and decaf). The market share of CTC tea is larger than the market share of leaf tea both in terms of value and volume. The cost of production of CTC tea is much lower as the process is not very labor-intensive as compared to orthodox tea. Asia-Pacific has a major share of CTC tea as it is rich in antioxidants and has low manufacturing cost.

The green tea and herbal & flavored tea segments are estimated to have maximum growth during the forecast period, 2018-2023. The leaf tea variety is expected to grow with the highest CAGR owing to its growing popularity related to health benefits.

The packaging scenario also plays an important role in the Asia-Pacific tea market growth based on the convenience of use and product shelf life. Loose tea, tea bags, instant tea, and compressed tea involve different and varied packaging techniques. Loose tea is currently the major market shareholder in the Asia-Pacific region. Convenience stores and supermarkets are the major sales channels. However, the main leaders are the supermarkets and hypermarkets, which are expected to maintain their growth during the forecast period.

Key Developments

  • February 2018 - Organic India, which currently enjoys a prominent position in the organic packaged foods and green tea segment, is planning a four-time increase in its digital marketing budget to reach out to the younger consumer base.
  • January 2018 - APIS India, one of the leading producers, distributors and exporters of quality honey, has now added Dates, Fruit Jam Fruitilicious, Green Tea Five Senses & Pickle Spicelicious Mixed Veggies to its delectable portfolio.

Companies Mentioned

  • Unilever
  • Dilmah
  • Duncans Industries Ltd
  • Hain Celestial Group Inc.
  • JM Smucker Co.
  • Mondelez
  • Ajinomoto General Foods Inc.
  • Tata Global Beverages
  • Mcleod Russel
  • Twinings
  • James Finlay
  • Van Rees
  • Typhoo Tea Ltd
  • Associated British Foods

Key Topics Covered

1. Introduction

2. Research Approach and Methodology

3. Market Overview

4. Market Dynamics

5. Market Segmentation

6. Competitive Landscape

7. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/8prmw3/asiapacific_tea?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Tea

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Tea