global tea market was valued at $46,392 million in 2016, and is projected to reach at $67,751 million by 2023, growing at a CAGR of 5.5% from 2017 to 2023. Tea is the most commonly consumed drink after water, with several health benefits. The aromatic beverage is made via processing and fermentation of Camellia sinensis plant leaves. It contains potential antioxidants known as flavonoids, which stabilize harmful free radicals in the body. In addition, tea is comprises vitamins C, K, B12, B6, & E; trace amount of potassium, manganese, magnesium, & calcium minerals; and different amino acids such as L-theanine. Several studies and researches on tea suggest that it prevents cancer, lowers cholesterol, facilitates weight loss, and enhances immunity. Primarily, tea can be categorized into black and green tea based on the degree of fermentation or oxidation.

The growth of the global tea market is driven by increase in health-related concerns of people, which is shifting their attention from carbonated drinks to tea. Furthermore, rise in cafe culture, growth in disposable income, change in tastes of people, and introduction of additional healthy ingredients in tea by different market players are some other factors that drive the growth of the market. However, increase in cost of raw materials due to unpredictable weather, high cost of production, and increase in trend of coffee consumption are expected to hamper the growth of market during the forecast period. Growth in demand from health-conscious young population and introduction of new flavor & variety are anticipated to provide lucrative opportunities for expansion the market.

The report segments the global tea market based on type, packaging, distribution channel, application, and geography. By type, the market is divided into green tea, black tea, oolong tea, dark tea, and others. On the basis of packaging, it is fragmented into plastic containers, loose tea (packets & pouches), paper boards, aluminum tin, and tea bags. By distribution channel, it is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. Applications covered in the study include residential and commercial. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The major strategies adopted by key players to expand their business include new product launches and expansion in untapped regions. The market players profiled in the study are as follows:

Tata Global Beverages
Unilever
Associated British Foods Plc.
TAETEA
Nestle
Barry's Tea
Apeejay Surrendra Group
Bettys & Taylors Group Ltd.
McLeod Russel
ITO EN Inc.

KEY BENEFITS FOR STAKEHOLDERS

This report provides an extensive analysis of the current trends and emerging estimations & dynamics in the global tea market from 2016 to 2023, in terms of value and volume.
Detailed analysis of the market by type helps understand the different types of tea products that are currently in use, and the variants that are expected to gain prominence in the future.
Porter's Five Forces analysis highlights the potency of buyers and suppliers to offer a competitive advantage to stakeholders to make profit-oriented business decisions and help strengthen their supplier & buyer network.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
Market share for all segments with respect to each geography is detailed in the report, which helps understand the trends in the industry.

KEY MARKET SEGMENTS

By Type

Green Tea
Black Tea
Oolong Tea
Herbal/Fruit Tea
Others (White Tea, Dark Tea, and Yellow Tea)

By Packaging

Plastic Containers
Loose Tea (Packets & Pouches)
Paper Boards
Aluminum Tin
Tea Bags

By Distribution Channel

Supermarkets/Hypermarkets
Specialty Stores
Convenience Stores
Online Stores
Others

By Application

Residential
Commercial

By Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Russia
Rest of the Europe
Asia-Pacific
China
India
Japan
Korea
Australia
Pakistan
Rest of the Asia-Pacific
LAMEA
Brazil
South Africa
Turkey
KSA
Egypt
Rest of the LAMEA

OTHER KEY PLAYERS

Mighty Leaf Tea Company
Numi Organic Tea
The Republic of Tea
Tazo Tea Company
Teavana
Celestial Seasonings, Inc.
Fukujuen
Harney and Sons
Kazi Tea
M. M. Ispahani Limited
DavidsTea
Tim Hortons
Godrej Group

*The above list of players are not profiled in the report, but can be added as per client interest.