LONDON--(BUSINESS WIRE)--Technavio has been monitoring the tea market and it is poised to grow by USD 13.24 billion during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- What was the value of the tea market in 2019?
- Technavio says that the value of the market was USD 53.07 billion in 2019 and is projected to reach USD 66.31 billion by 2024.
- At what rate is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of almost 5%, the market growth will accelerate during the forecast period.
- What is the key factor driving the market?
- New product launches and the proliferation of wireless technologies are the key factors driving the market growth.
- Who are the top players in the market?
- 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 some of the major market participants.
- Which region is expected to hold the highest market share?
- APAC
- What is the year-over-year growth rate of the global market?
- The year-over-year growth rate for 2020 is estimated at 4.32%.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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 are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
New product launches have been instrumental in driving the growth of the market.
Tea Market 2020-2024: Segmentation
Tea Market is segmented as below:
-
Product
- Black Tea
- Green Tea
- Others
-
Geography
- APAC
- Europe
- North America
- South America
-
Distribution channel
- Offline
- Online
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Tea Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our tea market report covers the following areas:
- Tea Market size
- Tea Market trends
- Tea Market analysis
This study identifies the functional benefits of tea as one of the prime reasons driving the tea market growth during the next few years.
Tea Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the tea market, including some of the vendors such as 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. Backed with competitive intelligence and benchmarking, our research reports on the tea market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Tea Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist tea market growth during the next five years
- Estimation of the tea market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the tea market
- 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
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Black tea - Market size and forecast 2019-2024
- Green tea - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Distribution Channel
- Offline
- Online
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume drivers – Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- 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
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
