Global Tea Market is Projected To Exhibit Growth Rate CAGR of 4.7% during 2024-2032

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 Keyword Market Trends:

The growing trend of eco-conscious consumerism, with increased demand for sustainably sourced and packaged tea products, is supporting the market growth. In line with this, innovations in tea brewing technology and the expansion of tea-related lifestyle products, such as tea-infused skincare, are strengthening the market growth. Moreover, the rising popularity of tea-based cocktails and beverages in the mixology trend, along with increasing consumer interest in premium and artisanal loose-leaf teas, is aiding the market growth. Besides this, tea's integration into culinary applications, such as tea-infused cooking and baking, is providing an impetus to the market growth.

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Factors Affecting the Growth of the Tea Industry:

Growing consumer preference for health and wellness beverages: One of the most significant drivers of the tea market is the rising consumer focus on health and wellness. Tea, particularly green and herbal varieties, is renowned for its potential health benefits, including antioxidant properties, improved digestion, and reduced risk of chronic diseases such as heart disease and diabetes. The growing awareness of these benefits, combined with a shift away from sugary and carbonated drinks, has led consumers to seek out tea as a healthier alternative. The market has seen increased demand for teas that are perceived as functional, such as those with added vitamins, minerals, or herbal ingredients aimed at specific health benefits. Scientific research and media coverage highlighting the positive health effects of tea consumption are contributing to the market expansion.

Expanding the variety of tea products and flavors: The tea market is characterized by its diverse range of products and flavors, which cater to a broad spectrum of consumer preferences. Traditional black, green, and oolong teas continue to be popular, but there is also a growing demand for specialty and flavored teas. Innovations in tea blending, such as the introduction of exotic flavors and blends with fruit, herbs, and spices, have broadened the market's appeal. Additionally, the rise of ready-to-drink (RTD) tea products has made it easier for consumers to enjoy tea on the go. This expansion of product variety and the introduction of new and unique tea experiences is attracting a wider audience and meeting diverse consumer tastes and preferences, thus bolstering the market demand.

Increasing adoption of tea culture and specialty offerings: The global adoption of tea culture and the rise of specialty tea offerings are key drivers of market growth. In many regions, tea is not just a beverage but a cultural and social tradition that has been embraced and adapted by various cultures around the world. This cultural appreciation has led to a growing interest in artisanal and high-quality teas, including premium and single-origin varieties. The proliferation of specialty tea shops and tea bars, as well as the increasing popularity of tea-related events and experiences, such as tea tastings and tea ceremonies, has contributed to the market's expansion. Moreover, the rise of e-commerce platforms has facilitated access to a broader range of tea products, making it easier for consumers to explore and purchase specialty teas from around the globe impelling the market growth.

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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.

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