New York, NY, July 10, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Tea Market By Product Type (Green Tea, Black Tea, Oolong Tea, Herbal Tea, and Others), By Application (Household and Commercial), By Packaging (Plastic Container, Loose Tea Packets, Tea Bags, and Aluminum Tins), and By Distribution Channel (Supermarket/Hypermarket, Convenience Store, Specialty Store, Online Retail and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017– 2024”.
According to the report, the global tea market was valued at around USD 49,456.52 million in 2017 and is expected to reach approximately USD 73,132.82 million by 2024, growing at a CAGR of around 4.5% between 2018 and 2024.
Tea is a type of shrub, cultivated widely in countries such as India, China, Sri Lanka, and Kenya. An aromatic beverage is prepared by soaking tea leaves in water. Leaf buds and internodes of the tea plant are also used in making tea beverage. Two main types of the tea plant are very popular such as the large-leaved Assam-plant and small-leaved China plant. Caffeine is the main constituent of tea, giving stimulating character to the beverage. Another important chemical present in tea is polyphenol or tannin. Polyphenol oxidase is an enzyme, which when acts with polyphenol gives reddish color and generates flavoring compounds in the beverage. The volatile oils present in tea leaf gives an aroma to the beverage.
Browse through 71 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global Tea Market: By Industry Type, Size, Share, Trends, Segments, Analysis and Forecast, 2017– 2024”.
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Tea is a traditional beverage originated in China. Tea is the oldest and the most popular, non-alcoholic caffeine-containing beverage. Tea is basically made from the leaves of the tea plant named Camellia sinensis which is a member of the Theaceae family. Tea processing is the method in which the leaves of the tea plant are transformed into dry leaves.
Tea has antioxidant property due to the presence of polyphenols and is anti-carcinogenic in nature. Moreover, it shows anti-cancerous activity and is effective for the different type of cancers such as lung, prostate, esophageal, stomach, and pancreatic cancer. Tea is a rich source of fluoride and aluminum. It has different amino acids and helps to develop strong immunity, increase metabolism, and reduced cholesterol. There are different types of tea such as green tea, white tea, black tea, yellow tea, oolong tea, and fermented tea. The most commonly consumed tea is black, green, and oolong. Each type of tea has a different smell, taste, and appearance. The main techniques involved in tea making are oxidation and drying. Steps involved in tea processing are plucking, withering, disruption, oxidation or fermentation, fixation, shaping, and drying.
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Increasing promotional and marketing strategies applied by tea manufacturers and producers is affecting the global tea market positively. Growing awareness among people regarding the benefits of tea consumption has increased the intensity of demand for tea among consumers. This is increasing the customer base consuming tea on a daily basis which is expected to boost the growth of the global tea market. This growth is mainly due to the changing lifestyle and busy daily schedule of people.
The product type of the global tea market includes green tea, black tea, oolong tea, herbal tea, and others. In terms of consumption, black tea is anticipated to dominate the market owing to large demand and consumer base associated with it. On the basis of application, the global tea market is segmented into household and commercial. However, increasing cost of raw material is expected to hinder the market growth.
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On the basis of packaging, global tea market is segmented into a plastic container, loose tea packets, tea bags, and aluminum tins. On the basis of the distribution channel, the market is segmented into a convenience store, supermarket/hypermarket, online retail, specialty store, and others. Hypermarket & supermarket segment is projected to be the most popular sales channel during the forecast period. This is due to high discount rates and offers such as buy one get one free offered at hypermarket & supermarket.
North America was another prominent regional market after the Asia Pacific. The market is chiefly growing due to the shift of consumers from carbonated soft drinks to tea. This shift is driven by the health benefits associated with tea. Increased demand for ready to drink beverages has fueled the tea market growth in the region. Increasing tea drinker base in regions like Canada is boosting the tea market in the region. Northeast and south region of America are prominent tea consumers.
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Increasing consumption of premium and luxury tea by prosperous class is expected to boost the tea demand in the region which is affecting the global tea market positively. In addition, an increasing chain of premium tea shops & food services in developed countries such as the U.S. is expected to fuel the tea market in the years to come.
Europe is anticipated to show significant growth in the tea market. Poland and west European countries have a strong tea tradition and the largest tea markets in the region. European tea market is mainly driven by high-quality specialty teas preference by the rich class. In addition, increasing demand for flavored & premium tea, green tea, herbal/fruit tea, owing to health benefits offered by them is affecting the European tea market positively. Health continues to be a key trend driving the consumer decision to buy tea in Europe. European consumers prefer drinking a cup of high-quality tea rather than drinking pots of tea. The increasing willingness of consumers to spend more on the tea they drink has resulted in the premiumization of the tea market in the region which is expected to grow the global tea market growth.
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The Middle East and Africa are expected to show considerable growth during the forecast period. The tradition of mint tea in the region of North Africa and the heavy consumption of black tea is driving the growth of the tea market in the region. Increasing demand for hot beverages and increasing awareness regarding the health benefits of tea is driving the tea market in the region. In regions such as South Africa, tea is preferred multiple times in a day. Moreover, increasing the launch of various innovative products is affecting the Middle East and Africa tea market positively. For instance, in January 2018, The Republic of Tea had launched Women of Tea to improve hygiene, nutrition, and literacy about diet habits. Moreover, the launch of Peter’s Garden Tea by The Republic of Tea and four new launches by Natalie’s Orchid Island Juice Company emphasizing spicy, ginger, lemon, and fruit flavors are expected to boost the tea market in the region.
Some of the key players have been focusing on merger and collaboration with tea vendors, research & development, nutritional advancement, maintaining the quality of the product, and packaging and pricing strategy in order to hold their ascendancy in the market. Some of the key players are Ting Hsin International Group, The Coca-Cola Company, PepsiCo Inc., Suntory Holdings Ltd., Sapporo Beverage Co., Ltd., Nestle S.A., Starbucks Corporation, Arizona Beverage Company, Asahi Group Holdings, Unilever NV., Danone SA, Uni-President Enterprises, Hangzhou Wahaha International Group Co. Ltd., Monster Beverage Corporation, and others.
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This report segments the global tea market as follows:
Global Tea Market: Type Segment Analysis
- Green Tea
- Black Tea
- Oolong Tea
- Herbal Tea
- Others
Global Tea Market: Application Segment Analysis
- Household
- Commercial
Global Tea Market: Packaging Segment Analysis
- Plastic Container
- Loose Tea Packets
- Tea Bags
- Aluminum Tins
Global Tea Market: Distribution Channel Segment Analysis
- Supermarket/Hypermarket
- Convenience Store
- Specialty Store
- Online Retail
- Others
Global Tea Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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