Green tea market to reach USD 23.95 billion by 2030

New York, U.S., June 13, 2022 (GLOBE NEWSWIRE) — Overview of the green tea market:

According to a comprehensive research report by Market Research Future (MRFR), “Green tea market Research Report: Insights by Form, Category, Delivery Channel and Region – Forecast to 2030“, the market is expected to generate $23.95 billion in revenue by 2030, growing at a CAGR of 7.50%.

Market scope:

Green tea is considered one of the healthiest beverages in the world. Green tea is more than just a drink for hydration. Green tea tree contains a variety of beneficial substances that end up in the finished drink. Tea is rich in polyphenols, which are natural substances with health benefits such as anti-inflammatory and anti-cancer properties.

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Report Scope:

Report attribute Details
Market size 2030 $23.95 billion
CAGR 7.50% (2022-2030)
Year of reference 2021
Forecast period 2022-2030
Historical data 2020
Forecast units Value (USD million)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered By form, category, distribution channel and region
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers Massive increase in the number of cases of heaviness and people suffering from cardiovascular infections

Competitive dynamics:

The major market players of the market are:

  • Beverages Arizona United States
  • Tata Global Beverages Limited
  • The Republic of Tea
  • Unilever APIs
  • East West Tea Company, LLC
  • The Bigelow Tea Company
  • Numi, Inc.
  • Starbucks Corporation
  • Organic India
  • Associated British Foods Plc
  • Mekor Corporation
  • Koninklijke DSM AG
  • Cape Natural Tea Products Pty Ltd
  • heavenly seasonings
  • Hankook Tea USA, Inc.

COVID-19 Analysis:

Due to the outbreak of the COVID-19 pandemic, the global supply chain of different types of tea has been suddenly disrupted. Disruption to business activity caused by nationwide shutdowns in many countries has hampered the expansion of the green type tea sector. However, growing concerns about immunity and general health have restored the nutritional drink market in retail channels, which is expected to continue throughout and after the pandemic. During and after the pandemic, the increased interest in consuming antioxidant-rich foods and beverages to minimize the risk of disease is expected to increase the tea market.

The green tea market is segmented on the basis of type, form and distribution channel.

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Market dynamics:

Market factors:

Growing awareness of medical benefits and growing consumer focus on healthy lifestyle are some of the vital variables that are expected to drive the market growth over the forecast period. Furthermore, the astronomical increase in the prevalence of obesity and cardiovascular disease is expected to boost the global demand for green tea.

Green tea is widely known to be effective in reducing LDL cholesterol, diseased cells, and head and body vibration. In addition, green tea significantly helps reduce fat. These elements are expected to drive the growth of the overall market over the coming years.

The rising trend of adequate nutrition and hydration has dramatically increased consumer demand for functional beverages. Green tea contains a high level of an anticancer ingredient that slows cell and tissue aging and promotes a healthy physique.

Growing demand for enhanced supplement drinks to reduce the risk of various diseases is driving the expansion of the market. Increasing research and development activities to encourage unique tea varieties, such as naturally improved, natural, unaltered, and environmentally friendly tea varieties, also helps the industry. Over the next few years, advancements in tea packaging technology are expected to contribute to the growth of the market.

However, the high cost of green tea compared to black tea and lack of awareness, especially in developing countries, is expected to restrain the growth of the global green tea market in the coming years. Farmers’ ignorance of proper farming practices and safe use of agrochemicals often reduces production and increases the price of the product. Tea cultivation is highly dependent on particular weather conditions, which makes it extremely sensitive to climate change.

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Segmentation based on type:

Tea bags hold the largest market share owing to their wide availability, portability, and ease of storage. Technological advancements in the tea processing industry have enabled companies to invest in eco-friendly and food-grade tea bags to capitalize on growing customer demand for clean-label products. Over the next few years, the growth of the market is expected to be fueled by the growing demand for tea bags with novel tastes.

Segmentation based on category:

The market for organic products is driven by the growing desire for clean label items.

Segmentation based on distribution channel:

The supermarket/hypermarket industry is constantly changing and investors are taking advantage of customers’ desires for a convenient shopping experience. The use of innovative technology and equipment on the ground enables stores to provide consumers with sufficient quality beverages.

Regional assessment:

The Asia-Pacific region dominates the global market. The district is a world center for many types of tea, with the largest production of green tea. Many tea producers and consumers account for the largest proportion of the market in the analysis of the green tea industry. The market in the region is supported by business expansion due to deteriorating financial conditions. Additionally, the presence of major tea-producing countries, such as China, Sri Lanka, India, and Indonesia, along with favorable agroclimatic zones and climatic conditions, is driving the growth of the market. Moreover, the evolution of consumer preferences for healthy and natural products favors the expansion of the regional market. The APAC market is expected to maintain its strength during the forecast period.

According to the green tea market forecast, North America is the second largest market in the world. Market growth is driven by changing lifestyle and acceptance of rational use design. The growing health conscious population in the region is influencing the growth of the market. Consumers have a higher prevalence of lifestyle-related health issues, such as obesity, diabetes, and cardiovascular disease, due to today’s stressful lifestyle. This has contributed to the increase in demand for tea as a preventive measure against certain diseases. Millennials in the region have a greater need for tea due to the growing popularity of functional beverages.

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