Covina, Feb. 14, 2023 (GLOBE NEWSWIRE) — Global tea market accounted for US$ 58.5 billion in 2020 and is projected to register a moderate CAGR of 6.6% over the forecast period. Tea is a fragrant drink made from the Camellia Sinensis plant. It is one among the world’s most popular beverages. The most popular teas are black and green teas, with herbal tea gaining popularity. Tea is considered a healthy beverage since it contains a variety of powerful antioxidants as well as minerals including potassium, manganese, magnesium, and calcium. Tea use on a regular basis helps to minimise cell damage caused by free radicals, lower cholesterol levels, and promote healthy weight loss.
The report ” Global Tea Market, By Product Type (Black Tea, Green Tea, Fermented Tea, Herbal Tea, and Others), By Distribution Channel (Hypermarket/Supermarket, Specialist Retailers, Convenience Stores, Foodservice Channels, and Others), and Region – Global Forecast to 2029’’
Key Highlights:
- In 2023, Society Tea intends to nearly double the share of value-added and specialty teas in its total sales, due to the introduction of new products in the category and the expansion of its footprint into additional geographies.
- In February 2023, D’Amazonia will introduce its first Better Sleep Tea. Many teas have spent the previous few years playing second fiddle to coffee in terms of perceived discernment and creativeness.
Analyst View:
The Global Tea Market is growing due to rising demand for composites, which help to improve the strength and stiffness of structural components such as nacelles and blades. Furthermore, these composites provide longer and lighter blades, resulting in higher blade performance, which is projected to move the target market forward. Furthermore, rising need for renewable energy as traditional energy sources become scarce is raising demand for worldwide wind turbine composites. Furthermore, the target market is developing due to increasing demand for wind turbine composites from industrialists and operators.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Tea Market, By Product Type (Black Tea, Green Tea, Fermented Tea, Herbal Tea, and Others), By Distribution Channel (Hypermarket/Supermarket, Specialist Retailers, Convenience Stores, Foodservice Channels, and Others), and Region – Global Forecast to 2029”
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Key Market Insights from the report:
The global tea market accounted for US$ 58.5 billion in 2020 and is projected to register a moderate CAGR of 6.6% over the forecast period. The market report has been segmented on the basis of product type, distribution channel, and region.
- By product, the global tea market bifurcated into black tea, green tea, fermented tea, herbal tea, and others.
- By distribution channel, the global tea market is bifurcated into hypermarket/supermarket, specialist retailers, convenience stores, foodservice channels, and others.
- By region, Asia Pacific tea market is expected to account for major share in terms of revenue in the global tea market over the forecast period followed by other regions. This can be attributed to rising awareness regarding health benefits of tea among individuals, coupled with tea has excellent anti-aging property in turn rising demand for tea in countries such as India and China of the region.
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Competitive Landscape & their strategies of Global Tea Market:
The prominent player operating in the the global tea market includes Starbucks Corporation, Twining Crosfield and Company Ltd, Tata Global Beverages Limited, Unilever PLC, Orientis Gourmet SAS, Unilever Overseas Holdings Limited, Associated British Foods Plc, Wissotzky Tea (Israel) Ltd., Starbucks Corporation, and Nestlé S.A.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
- Global Tea Market, By Product Type, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Black tea
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Green tea
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Fermented tea
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Herbal tea
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Tea Market, By Distribution Channel, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Hypermarket/Supermarket
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Specialist Retailers
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Convenience Stores
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Foodservice Channels
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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