The tea industry is expected to grow by $68,950 million between 2020 and 2027 – Get an overview of key trends and opportunities

0

tea market

The prevalence of tea drinking culture, various health benefits of tea, increased weight loss awareness and expanding retail sector are propelling the growth.

PORTLAND, OR, USA, July 16, 2022 /EINPresswire.com/ — According to the report, the global tea industry generated $55.14 billion in 2019 and is expected to reach $68.95 billion by 2027, registering a CAGR of 6.6% from 2020 to 2027.

Drivers, constraints and opportunities

The prevalence of tea drinking culture, various health benefits of tea, rising awareness of weight loss and expanding retail sector are propelling the growth of the global tea market. However, fluctuating commodity prices are restraining the growth of the market. On the contrary, the reduced demand for soft drinks and the advent of new flavors are creating new opportunities in the years to come.

Request sample report at: https://www.alliedmarketresearch.com/request-sample/2296

Covid-19 scenario

Production activities have been halted due to containment restrictions. Additionally, there was unavailability of raw materials and disruptions in the supply chain, which in turn hampered production.
Online stores have suspended delivery services with government-imposed lockdown restrictions to limit the spread. Moreover, the gap between supply and demand has widened as health conscious people need green tea and different types of teas.
Supermarkets, hypermarkets and specialty stores have been closed or opened for a specified period in accordance with government regulations. With lockdown restrictions pushed back, production activities and physical stores have started operations.
The green tea segment will continue its leading status during the forecast period

On the basis of type, the green tea segment contributed the largest market share in 2019, accounted for nearly one-third of the global tea market and is expected to maintain its leading status during the forecast period. Moreover, this segment is estimated to witness the fastest CAGR of 9.8% from 2020 to 2027. This is due to health benefits such as better digestion, better heart and mental health, benefits of weight loss, innovative ads and celebrity endorsements. The report also covers segments such as black tea, fruit/herbal tea, oolong tea and others.

The supermarket/hypermarket segment will maintain its leading position by 2027

Based on distribution channel, the supermarket/hypermarket segment held more than a third of the global tea market in 2019 and is expected to maintain its leading position in terms of revenue by 2027. This is due to the presence of ‘a wide variety of products, increased footfall in emerging countries and unique solution offered by them. However, the online store segment is expected to register the highest CAGR of 8.4% from 2020 to 2027, owing to the discounts and convenience offered by these online channels.

For a purchase inquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/2296

Asia-Pacific must maintain dominance by 2027, North America must grow steadily

Based on region, Asia-Pacific accounted for the highest market share in 2019, holding almost three quarters of the total market share of the global tea market, and will continue its dominance during the forecast period. . Moreover, this region is expected to show the highest CAGR with a CAGR of 7.3% during the forecast period. This is attributed to the advent of tea culture in countries like China, India, and Japan, as well as the rise of black tea with its health benefits. However, North America is estimated to experience the second highest CAGR of 5.5% from 2020 to 2027.

Main market players

Associated British Foods Plc.
Barry’s Tea Limited
Hain Celestial Group, Inc.
ITO FR, Ltd.
Mcleod Russel India Limited
Nestlé SA
TaeTea
Tata World Drinks
The Republic of Tea, Inc.
Unilever Group

Similar reports:
Ready-to-drink (RTD) tea market expected to reach $38.96 billion by 2027
Instant Tea Premix Consumption Market is Expected to Reach $2.1 Billion by 2027

Upcoming reports:
White Tea Extract Market: https://www.alliedmarketresearch.com/white-tea-extract-market
Organic Tea Market: https://www.alliedmarketresearch.com/organic-tea-market
Flavored Tea Market: https://www.alliedmarketresearch.com/flavoured-tea-market-A06472
Printed Foam Bubble Tea Market: https://www.alliedmarketresearch.com/printed-foam-bubble-tea-market-A06553

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 industry sectors, including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverage, Energy & Power, semiconductors and electronics, automotive and transport, ICT and media, aerospace and defense and BFSI.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

David Correa
Allied Analytics LLP
800-792-5285
write to us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Street.! A Library of Online Subscription Reports – Allied Market Research



Source link

Share.

Comments are closed.