Tea Market Overview
Maximize Market Research, a leading international business consultancy firm, has released its highly anticipated "Tea Market" Report, providing crucial insights into the market's potential in the Asia Pacific region. Despite economic challenges post the Covid lockdown period, the market has showcased resilience and an upward trend. The report positions the Asia Pacific region as a lucrative opportunity for Tea market and its component manufacturers over the next decade.
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Tea Market Values
Global Tea Market size was valued at US$ 75.93 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 6.6% through 2024 to 2030, reaching nearly US$ 118.77 Bn.
Tea Market Scope
Import and export consumption, supply and demand chain, costs, shares, sales volumes, revenues, and gross profits are covered in the Tea market analysis report. The manufacturing bases, capacity, production, factory prices, revenues, and market share of each manufacturer in the Tea market are examined in the report.
Tea Market Dynamics
Tea has grown incredibly popular because of the growing market's tea culture. Additionally, the expansion of the tea market has been aided by growing disposable money and health consciousness. The inclusion of extra healthy ingredients into tea by different market competitors is one of the other reasons propelling the market's expansion.
The two main factors influencing this industry are the increasing trend of coffee consumption and the fluctuating prices of raw materials due to unforeseen weather events. Conversely, it is anticipated that the market for tea would expand in tandem with the rise in demand for herbal tea and the introduction of new tea flavours and kinds.
Tea Market Segmentation
by Product
Black
Green
Oolong
Herbal
The market is divided into Black, Green, Oolong, and Herbal segments based on the product. By 2030, the Black Tea sector is predicted to command the most market shares at 42.5%. This is because there are more people drinking tea globally.
Because black tea has a high content of antioxidants and polyphenols, it is also a favourite choice among health aficionados. Black tea extract contains the following nutrients: vitamin C, zinc, iron, magnesium, copper, manganese, potassium, fluoride, and calcium. Black tea extract has higher antioxidant content and anti-allergic, anti-viral, and anti-spasmodic properties than green tea.
by Application
Residential
Commercial
The market is divided into three segments based on the applications: online, specialty stores, supermarkets and hypermarkets. Over the course of the forecast period, the online distribution channel segment is anticipated to grow quickly at a CAGR of 5.9%.
The introduction of online apps, coupled with the availability of sales and prompt product delivery, has a positive effect on the supply chain of the market. For instance, stores like Big Basket and Walmart, among others, provide a wide range of flavoured teas with the option for both online and offline delivery. Throughout the forecast period, these are the main factors propelling this segment's expansion in the worldwide market.
by Distribution Channel
Supermarkets & Hypermarkets
Specialty Stores
Online
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Tea Market Key Players
North America
1. Rishi Tea and Botanicals
2. Genuine Tea Co.
3. Novel Teas
4. Numi Organic Tea
5. JDE Peet's
6. Bigelow Tea Company
7. Thaiwala
8. Tea Sparrow
Europe
9. Halssen & Lyon
10. Unilever
11. Ahmad Tea
12. Ecotone
13. Illycaffe
14. Kapchorua Tea
15. Typhoo Tea
APAC
16. Dilmah Tea
17. Basilur Tea
18. The Wellness Group (TWG Tea)
19. Gujarat Tea Processor & Packers Ltd.
20. The Tea Heaven
21. Dhunseri Tea & Industries
22. Amaara Herbs
23. Indong Tea
24. China Tea
ME
25. Limura Tea
26. Rabea Tea
27. Sadaf Tea
Table of content for the Tea Market includes:
Part 01: Executive Summary
Part 02: Scope of the Tea Market Report
Part 03: Global Tea Market Landscape
Part 04: Global Tea Market Sizing
Part 05: Global Tea Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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Regional Analysis
The Tea market report comprises an extensive analysis of the Tea industry across five primary world regions are Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. It delves into the market's key geographies and highlights notable segments and sub-segments within the industry.
Key Questions answered in the Tea Market Report are:
- What is Tea Market?
- What is the forecast period of the Tea Market?
- What is the competitive scenario of the Tea market?
- Which region held the largest market share in the Tea Market?
- What are the opportunities for the Tea Market?
- What are the restraining factors in the Tea market?
- Who are the key players of the Tea market?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by Tea
- Landscape- Leading key players and other prominent key players.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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