Global Tea Market: Snapshot
Tea is one of the most famous and frequently consumed and most preferred beverages globally. Phytochemicals, antioxidants, and flavonoids in the tea helps to maintain the healthy functioning of the human body. Rising awareness about this benefit from tea are boosting adoption of the tea globally which is driving growth of the tea market. The increasing pool of consumers which are preferring tea coupled with the trend of numerous flavored tea and green tea are driving growth of the global tea market and expected to continue to grow over the forecast period.
The report anticipates that in 2016, the global tea market was registered the revenue of US$12.45 bn and with the CAGR of a 5.70% over the forecast period from 2017 and 2025 to attain the value of US$20.03 bn by the end of the 2025.
However, the popularity of coffee is the only challenge that limiting growth of the global tea market. Nevertheless, the launch of the new flavors and increasing target based advertisement by key players are influencing positively on the growth of the global tea market.
Global Tea Market: Segments
The global tea market is segmented on the basis of the products and type. On the basis of products, the market is segmented in to leaf tea and CTC tea. Of these, CTC tea is expected to dominate the global market for tea in terms of revenue and expected to remain dominant over the forecast period. This growth is attributable to substantially low cost of CTC.
On the basis of types, the tea market is segmented in to mass tea or traditional tea and premium/specialty tea. Of these, the segment of mass tea is expected to dominate the global market for tea. Similar with the name of segment – mass tea – it is consumed generally by mass as it is cost-effectiveness. However, the demand for premium tea is increasing globally. The premium tea includes yellow tea, ready-to-drink tea bags, and oolong tea which is primarily produced by the addition of flavors to the mass tea. Health benefits of the specialty tea is higher, thus the segment is witnessing the significant growth despite of its higher cost. Demand for specialty tea is expected to increase over the forecast period owing to changing preferences of young and health conscious people to tea.
Global Tea Market: Regional Analysis
On the basis of region, the global tea market is segmented in to North America, Asia Pacific, Europe, the Middle East and Africa (MEA), and South America. Of these, Asia Pacific accounted for the leading share in the global market and expected to continue its dominance over the last few years. This growth is attributable to the preference for tea among the general population and being the most common and popular hot beverage especially in developing economies such as India, China, Singapore, Hong Kong, Japan, Thailand, and Australia.
Global Tea Market: Competitive Landscape
Some of the key players operating in the global tea market includes Starbucks, Associated British Foods Plc., Kusmi Tea, Peet’s Coffee & Tea, DAVIDs Tea, Tata Global Beverages, Unilever Plc., and Tea Forte.
Global Tea Market: Overview
This report covers the analysis and forecast of the tea market on a global, regional and country level. The study provides historic data of the years 2005 to 2016 along with forecast for the period between 2017 and 2025 based on volume (kilo tons) and value (US$ Mn). It provides a decisive view of the tea market by segmenting it based on product, type, and regional demand. Application segments have been analyzed based on current trends and future potential.
The tea market has been estimated from 2017 to 2025 in terms of volume (kilo tons) and value (US$ Mn). Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, South America, and the Middle East and Africa. These have been further sub-segmented into countries and regions with relevance to the market.
Global Tea Market: Scope of the Study
The study covers the drivers and restraints governing the dynamics of the tea market along with their impact on demand during the forecast period. Additionally, the report includes potential opportunities in the tea market on the global, regional and country level. The global tea market has been forecasted based on constant currency rates. Prices of tea vary in each region and country as a result of the demand-supply scenario in the particular region and the country. Hence, a similar volume-to value ratio does not follow for each individual region and country. Individual pricing of tea for each application has been taken into account while estimating and forecasting market value on a global basis. Regional average price has been considered while breaking down the market into segments in each region.
The report provides the size of the tea market in 2005 and the forecast for the next twenty years up to 2025. The size of the global tea market is provided in terms of both volume and value. Market volume is defined in kilo tons, while market value for regions is in US$ Mn. The market size and forecast for each product segment is provided in the context of global and regional markets. Market estimates for this study have been based on volume, with value being derived through regional pricing trends. The price for commonly utilized type of tea in each region has been considered, and customized product pricing has not been included. Demand for tea has been derived by analyzing the global and regional demand for tea.
Global Tea Market: Segmentation
The product type split of the market has been derived using a top-down approach for each regional market separately, with the global product type segment split being an integration of regional estimates. Companies have been considered based on their product portfolio, revenue, and manufacturing capacity. In the absence of specific data related to the sales of tea of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.
The global tea market has been analyzed based on expected demand. Market data for each segment is based on volume and corresponding value. Prices considered for calculation of value are average regional prices obtained through primary quotes from numerous regional suppliers, distributors, and direct selling regional producers based on manufacturers’ feedback. Forecasts have been based on the expected demand from tea. We have used the top-down approach to estimate the global tea market, split into regions and countries.
Companies Mentioned in the Report
The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Some of the leading market players in the tea market are Kusmi Tea (France), Tata Global Beverages (India), Davids Tea (Canada), Unilever Plc. (U.K.), Tea Forte (United States), Starbucks (United States), Associated British Foods Plc. (Twinings) (U.K.), and Peet’s Coffee & Tea (United States) among others.
The global tea Market has been segmented into:
- Leaf Tea
- CTC Tea
- Premium/Specialty Tea
- Mass Tea
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- Hong Kong
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America