The Tea Market to grow by USD 20.5 billion from 2022 to 2027 | New product launches to boost market growth - Technavio

NEW YORK, Aug. 3, 2023 /PRNewswire/ -- The tea market is estimated to grow by USD 20.5 billion from 2022 to 2027, growing at a CAGR of 5.55%, according to Technavio. APAC is estimated to contribute 64% to the growth of the global market during the forecast period. China and India are major players in the global production and export of green tea and black tea, respectively. India holds a prominent position in the black tea market, both in production and consumption, while China leads in green tea production and consumption, even surpassing Japan. The e-commerce sector is rapidly growing in the region, with platforms like Amazon, Alibaba, and Flipkart playing a significant role in boosting online tea sales. Hence, these factors are expected to drive market growth in the region during the forecast period. For Comprehensive details on the market size of the historical period(2017 to 2021) and forecast period (2023-2027) - View the Sample report

Company Landscape
The tea market is fragmented; the companies are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products -The report provides a full list of key companies, their strategies, and the latest developments. Buy Now

Market Dynamics

Key Drivers & Challenges

The increasing number of new product launches is a key factor driving market growth. The tea market is witnessing a change in consumer preferences, as people are shifting towards tea products that offer health benefits like antioxidants and herbal tea. In response to this demand, tea companies are introducing new and innovative tea products to diversify their offerings. These new tea variants not only attract more consumers but also lead to higher sales volume and market share. Additionally, companies actively collect feedback on tea quality to promote their launches. This approach helps build trust and confidence in the brand's offerings. Hence, these factors are expected to restrict market growth during the forecast period.

The negative impact of overconsumption of tea is a significant challenge restricting market growth. Drinking tea has many health benefits, but it's important to avoid drinking too much. Nutritionists recommend up to three cups of tea per day to maintain a healthy balance. Drinking too much tea can be addictive and have negative health effects, including dehydration, bloating, nutrient deficiencies, and anxiety. One of the main concerns is the high caffeine content in tea, which can disrupt the body's ability to absorb and cause dehydration. Thus, these factors are expected to restrict market growth during the forecast period.

Major Trends

Premiumization of tea products is a major trend in the market. Suppliers respond to consumer preferences by offering a wide range of tea products with different tastes, quality, volume, and price. Consumers prefer high-quality teas that use natural or organic ingredients and offer health benefits. Moreover, to encourage the use of premium tea products, companies offer individual packages with a variety of tea flavors. This shows how these strategies influence consumer buying behavior by offering a wide variety of tea products in one purchase. Hence, these factors are expected to drive market growth during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report

Company Profiles

The tea market report includes information on the product launches, sustainability, and prospects of leading companies including Akbar Brothers Pvt. Ltd., Apeejay Surrendra Group, Associated British Foods Plc, DAVIDsTEA Inc., ekaterra, Fukujuen Co. Ltd., Godrej and Boyce Manufacturing Co. Ltd., Harney and Sons Fine Teas, ITO EN Ltd., M.M.Ispahani LTD., Mighty Leaf Tea Canada, Nestle SA, Numi Inc., Restaurant Brands International Inc., Tata Consumer Products Ltd., The Hain Celestial Group Inc., The Republic of Tea Inc., Williamson Magor and Co. Ltd., Yunnan Dayi Tea Industry Group Co. Ltd., and Barrys Tea.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

Market Segmentation

The market is segmented by product (black tea, green tea, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

• The market share growth by the black tea segment will be significant during the forecast period. Black tea is made by oxidizing the leaves of the Camellia sinensis plant, which involves exposing them to moist, oxygen-rich air. This process turns the leaves dark-brownish-black, giving black tea its unique flavor and characteristics. Furthermore, It is highly popular in countries like Turkey, Saudi Arabia, Iran, and the UK. Hence, these factors are expected to drive segment growth during the forecast period.

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Related Reports

The herbal tea market is estimated to grow at a CAGR of 4.94% between 2022 and 2027. The market size is forecast to increase by USD 885.1 million. Furthermore, this report extensively covers market segmentation by type (green, black, and yellow), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The wide availability of substitutes is a key factor driving market growth during the forecast period.

The organic tea market is projected to increase by USD 552.51 million and the market size is estimated to grow at a CAGR of 8.62% between 2022 and 2027. Furthermore, this report extensively covers market segmentation by distribution channel (offline and online), type (leaf and powder, tea bag, and liquid), and geography (APAC, Europe, North America, South America, and Middle East and Africa). The increasing health benefits of organic tea is a key factor driving market growth during the forecast period.

Table Of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Company Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of companies included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global tea market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global tea market 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Black tea - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Black tea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Black tea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Black tea - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Black tea - Year-over-year growth 2022-2027 (%)

• 6.4 Green tea - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Green tea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Green tea - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Green tea - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Green tea - Year-over-year growth 2022-2027 (%)

• 6.5 Others - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ billion)
• Exhibit 47: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 48: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 50: Chart on Comparison by Distribution Channel
• Exhibit 51: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 60: Market opportunity by Distribution Channel ($ billion)
• Exhibit 61: Data Table on the Market Opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 India - Market size and forecast 2022-2027 
• Exhibit 91: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 US - Market size and forecast 2022-2027 
• Exhibit 103: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ billion)
• Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Company Landscape

• 11.1 Overview

• 11.2 Company landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 112: Impact of key risks on business

12 Company Analysis

• 12.1 Companies covered
• Exhibit 113: Companies Covered

• 12.2 Market positioning of companies 
• Exhibit 114: Matrix on company position and classification

• 12.3 Akbar Brothers Pvt. Ltd. 
• Exhibit 115: Akbar Brothers Pvt. Ltd. - Overview
• Exhibit 116: Akbar Brothers Pvt. Ltd. - Product / Service
• Exhibit 117: Akbar Brothers Pvt. Ltd. - Key offerings

• 12.4 Apeejay Surrendra Group 
• Exhibit 118: Apeejay Surrendra Group - Overview
• Exhibit 119: Apeejay Surrendra Group - Product / Service
• Exhibit 120: Apeejay Surrendra Group - Key offerings

• 12.5 Associated British Foods Plc 
• Exhibit 121: Associated British Foods Plc - Overview
• Exhibit 122: Associated British Foods Plc - Business segments
• Exhibit 123: Associated British Foods Plc - Key offerings
• Exhibit 124: Associated British Foods Plc - Segment focus

• 12.6 Barrys Tea
• Exhibit 125: Barrys Tea - Overview
• Exhibit 126: Barrys Tea - Product / Service
• Exhibit 127: Barrys Tea - Key offerings

• 12.7 DAVIDsTEA Inc.
• Exhibit 128: DAVIDsTEA Inc. - Overview
• Exhibit 129: DAVIDsTEA Inc. - Business segments
• Exhibit 130: DAVIDsTEA Inc. - Key offerings
• Exhibit 131: DAVIDsTEA Inc. - Segment focus

• 12.8 ekaterra
• Exhibit 132: ekaterra - Overview
• Exhibit 133: ekaterra - Product / Service
• Exhibit 134: ekaterra - Key offerings

• 12.9 Fukujuen Co. Ltd.
• Exhibit 135: Fukujuen Co. Ltd. - Overview
• Exhibit 136: Fukujuen Co. Ltd. - Product / Service
• Exhibit 137: Fukujuen Co. Ltd. - Key offerings

• 12.10 Godrej and Boyce Manufacturing Co. Ltd. 
• Exhibit 138: Godrej and Boyce Manufacturing Co. Ltd. - Overview
• Exhibit 139: Godrej and Boyce Manufacturing Co. Ltd. - Business segments
• Exhibit 140: Godrej and Boyce Manufacturing Co. Ltd. - Key offerings
• Exhibit 141: Godrej and Boyce Manufacturing Co. Ltd. - Segment focus

• 12.11 ITO EN Ltd.
• Exhibit 142: ITO EN Ltd. - Overview
• Exhibit 143: ITO EN Ltd. - Business segments
• Exhibit 144: ITO EN Ltd. - Key offerings
• Exhibit 145: ITO EN Ltd. - Segment focus

• 12.12 Nestle SA
• Exhibit 146: Nestle SA - Overview
• Exhibit 147: Nestle SA - Business segments
• Exhibit 148: Nestle SA - Key news
• Exhibit 149: Nestle SA - Key offerings
• Exhibit 150: Nestle SA - Segment focus

• 12.13 Tata Consumer Products Ltd. 
• Exhibit 151: Tata Consumer Products Ltd. - Overview
• Exhibit 152: Tata Consumer Products Ltd. - Business segments
• Exhibit 153: Tata Consumer Products Ltd. - Key news
• Exhibit 154: Tata Consumer Products Ltd. - Key offerings
• Exhibit 155: Tata Consumer Products Ltd. - Segment focus

• 12.14 The Hain Celestial Group Inc. 
• Exhibit 156: The Hain Celestial Group Inc. - Overview
• Exhibit 157: The Hain Celestial Group Inc. - Business segments
• Exhibit 158: The Hain Celestial Group Inc. - Key news
• Exhibit 159: The Hain Celestial Group Inc. - Key offerings
• Exhibit 160: The Hain Celestial Group Inc. - Segment focus

• 12.15 The Republic of Tea Inc.
• Exhibit 161: The Republic of Tea Inc. - Overview
• Exhibit 162: The Republic of Tea Inc. - Product / Service
• Exhibit 163: The Republic of Tea Inc. - Key offerings

• 12.16 Williamson Magor and Co. Ltd. 
• Exhibit 164: Williamson Magor and Co. Ltd. - Overview
• Exhibit 165: Williamson Magor and Co. Ltd. - Product / Service
• Exhibit 166: Williamson Magor and Co. Ltd. - Key offerings

• 12.17 Yunnan Dayi Tea Industry Group Co. Ltd. 
• Exhibit 167: Yunnan Dayi Tea Industry Group Co. Ltd. - Overview
• Exhibit 168: Yunnan Dayi Tea Industry Group Co. Ltd. - Product / Service
• Exhibit 169: Yunnan Dayi Tea Industry Group Co. Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 170: Inclusions checklist
• Exhibit 171: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 172: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 173: Research methodology
• Exhibit 174: Validation techniques employed for market sizing
• Exhibit 175: Information sources

• 13.5 List of abbreviations
• Exhibit 176: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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