According to the recent report by IMARC Group, entitled “Tea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025” the market reached a volume of 6.4 Million Tons in 2019. The market is further projected to reach a volume of 7.7 Million Tons by 2025, expanding at a CAGR of 3.1% during 2020-2025.
Originated in China, tea refers to an aromatic beverage which is usually prepared by adding hot or boiling water over the tea leaves. Tea is mainly grown in the developing countries, such as Asia, Africa, South America, and around the Black and Caspian Seas, with favourable soil and climatic conditions. It is considered as the widely consumed beverage across the globe as it helps in digestion, improves the immunity, assists in weight loss, benefits the bone health and minimises the risk of heart attacks.
On account of escalating disposable incomes and altering tastes as well as preferences of the consumers, the demand for premium and healthy beverages like tea is proliferating worldwide. Moreover, as consumers are becoming aware about the disadvantages of consuming carbonated drinks, they are extensively incorporating green tea in their daily beverages, in turn, contributing to the overall growth of the market. Apart from this, tea manufacturers are introducing value-added ingredients so as to target young consumers or people suffering from obesity, diabetes and other health ailments. Additionally, the manufacturers are coming up with new flavours of tea such as lemon, mint, orange and pomegranate in order to widen their consumer-base. Other major factor which is catalysing the market growth is the huge popularity of tea, particularly in the developing regions like India and China.
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Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Tea Market Segmentation:
Market Breakup by Type
1. Green Tea
2. Black Tea
3. Oolong Tea
4. Fruit/Herbal Tea
Market Breakup by Packaging
1. Plastic Containers
2. Loose Tea
3. Paper Boards
4. Aluminium Tin
5. Tea Bags
Market Breakup by Distribution Channel
2. Specialty Stores
3. Convenience Stores
Market Breakup by Application
Market Breakup by Region
4. Sri Lanka
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