IMARC Group has recently released a new research study titled “Global Tea Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global tea market size reached US$ 24.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 37.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2024-2032. The increasing consumer awareness of tea's health benefits, rapidly changing lifestyles, surging demand for convenience, growing preference toward sustainability and ethical sourcing practices, burgeoning globalization, and expansion of e-commerce sector, and easy product availability in retail stores are some of the factors accelerating the market growth.
Global Tea Market Trends:
The rising awareness about the benefits of functional teas, which are formulated with added vitamins, minerals, adaptogens, and other health-promoting ingredients for targeted benefits such as improved digestion, enhanced energy, and stress relief, is favoring the market growth. Along with this, the growing popularity of tea tourism, which offers immersive experiences in tea culture, including plantation tours, tea ceremonies, and tastings, is catalyzing the market growth. Additionally, rapid technological advancements that enable personalized tea experiences through apps and devices that tailor tea recommendations based on individual preferences and health needs are bolstering the market growth.
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Factors Affecting the Growth of the Keyword Industry:
- Rising Focus on Health Benefits of Tea and Wellness Trends:
The increasing awareness of the health benefits associated with tea consumption is one of the major factors boosting the market growth. Moreover, the growing demand for beverages that offer hydration and nutritional and therapeutic advantages is favoring the market growth. Tea is rich in antioxidants, polyphenols, and other bioactive compounds and is lauded for its potential to improve cardiovascular health, support weight management, and enhance mental alertness. Along with this, the heightened focus on wellness trends, leading to the adoption of organic and specialty teas, is acting as a growth-inducing factor. Additionally, the growing influence of social media and health influencers who advocate for the consumption of tea as part of a balanced and health-conscious lifestyle is favoring the market growth.
- Rapid Diversification and Innovation in Tea Products:
The rising diversification and innovation in tea products are enhancing the market growth. In line with this, the development of new tea products and formats to cater to varying consumer preferences is favoring the market growth. Along with this, the rising popularity of ready-to-drink (RTD) teas, due to their convenience and variety of flavors, is anticipated to drive the market growth. They offer a quick and accessible way for consumers to enjoy tea on the go, aligning with the fast-paced modern lifestyle. Besides this, the rising focus on innovative tea blends and flavor infusions, such as exotic fruits, spices, and herbs, is boosting the market growth.
- Increasing Concern Over Sustainability and Ethical Sourcing:
The ongoing consumer shift toward environmentally and socially responsible consumption is a major factor catalyzing the market growth. In line with this, the rising awareness and concern among individuals about the impact of their purchasing decisions on the environment and the livelihoods of farmers is fueling the market growth. Along with this, the growing adoption of sustainable agriculture methods, such as organic farming, permaculture, and agroforestry, which minimize environmental impact and promote biodiversity, is fostering the market growth. They help preserve soil health, reduce pesticide use, and maintain ecological balance, thereby contributing to the long-term sustainability of tea production.
Key Companies:
- Associated British Foods Plc
- Barry’s Tea
- Taetea Group
- Tata Consumer Products Limited (Tata Group)
- Unilever
Keyword Market Report Segmentation:
By Product Type:
- Green Tea
- Black Tea
- Oolong Tea
- Others
Black tea represented the largest market share due to its widespread popularity and high consumption rates.
By Packaging:
- Plastic Containers
- Loose Tea
- Paper Boards
- Aluminium Tin
- Tea Bags
- Others
Paper boards accounted for the largest market share as they offer cost-effective, eco-friendly solutions and are widely used for tea bags and retail packaging.
By Distribution Channel:
- Supermarkets/Hypermarkets
- Specialty Stores
- Convenience Stores
- Online
- Others
Supermarkets/hypermarkets represented the largest segment due to their extensive reach, diverse product offerings, and convenience, attracting a broad customer base.
By Application:
- Residential
- Commercial
The residential sector represented the largest segment as tea is predominantly consumed at home, making household consumption the primary driver of market demand.
Regional Insights:
- China
- India
- Kenya
- Sri Lanka
- Turkey
- Vietnam
- Others
China's dominance in the keyword market is attributed to its historical and cultural significance in tea consumption and production, coupled with its large population.
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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