DUBLIN--(BUSINESS WIRE)--The "Tea Market - Growth, Trends, and Forecasts (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global tea market is expected to witness a CAGR of 4.5%, during the forecast period 2020-2025.
The global tea market is characterized by the black tea segment holding a prominent share. However, the maximum growth is estimated for green and herbal/flavored tea, due to the awareness about health benefits associated with them.
Consumption of carbonated tea drinks is a new trend in the tea industry, which is further fuelling the growth of the tea market. Various tea manufacturing companies, such as Bigelow, have introduced several flavors of tea, ranging from fruity to herbal flavors, creating a diversified portfolio of tea products for customers.
Key Market Trends
Increasing Inclination Towards Herbal and Green Tea
- Consumer awareness about the health benefits of herbal and green tea may further drive the growth of the global tea market. Rise in disposable income of consumers, changes in taste and preferences, and introduction of additional healthy ingredients in tea by different market players are the other factors that fuel the market growth.
- The easy availability of tea is expected to encourage the growth of the Asia-Pacific green tea market. World green tea production is expected to grow at a faster rate than black tea, reflecting the growth in China.
- However, the higher price of green tea in comparison with black tea is anticipated to restrict the growth of the global green tea market, in the next few years. Nevertheless, the expansion of the product portfolio and the increasing marketing activities and advertising are expected to offer promising opportunities for the key players in the global green tea market.
Asia-Pacific is Leading the Global Tea Market
- Currently, the growth in tea consumption is being driven by rapid growth in per capita incomes, particularly in the developing countries of Asia-Pacific. A growing, increasingly urban young population segment entering the middle class is prepared to consume more and to pay for premium tea products.
- Therefore, these changes have the potential to develop into a stronger and longer trends. At present, Asia-Pacific has the largest market for tea consumption, with robust economic growth in a number of developing countries, such as China, India, and Russia. This has created a large middle class groups, with a preference for premium tea blends and brands, often upgrading their purchases from unpackaged tea to packed and bagged specialty varieties.
The global tea market is highly fragmented and competitive. The market consists key players competing for major market share and small regional players catering to small regions. The key global players are based in North America and Europe, while various small players are based in Asia-Pacific, South America, and Eastern Europe. The key strategies adopted by the players in the market are expansions, innovations, and new product launches. For instance, Unilever is strengthening its presence with more product innovations, such as machine compatible tea capsules.
Key Topics Covered
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Black Tea
5.1.2 Green Tea
5.1.3 Herbal Tea
5.1.4 Oolong Tea
5.1.5 Other Product Types
5.2 By Packaging Format
5.3 By Distribution Channel
5.3.2 Convenience Stores
5.3.3 Online Retailers
5.3.4 Other Distribution Channels
5.4 By Geography
5.4.1 North America
5.4.4 South America
5.4.5 Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.2 R Twining and Company Limited
6.3.3 Tata Consumer Products Limited
6.3.4 Hain Celestial Group Inc.
6.3.5 Ito En Ltd.
6.3.6 Nestle SA
6.3.7 Orientis Group (Kusmi Tea)
6.3.8 The Republic of Tea
6.3.9 Davids Tea
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/fqbp83