In 2024, Japanese household expenditure on black tea is forecasted at 599.23 Yen, marking a 0.75% decline from 2023, when it stood at approximately 603.74 Yen. This downward trend is projected to continue, with a yearly decrease of about 0.76% to 0.77% in subsequent years, reaching 581.74 Yen by 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is expected to be around -0.9%.
Future trends to watch include:
- Consumer shifts towards healthier lifestyle choices impacting tea consumption.
- Potential influence of global tea market dynamics and pricing affecting domestic expenses.
- Emergence of innovative tea products that could attract younger demographics.
