The Mate and Tea Market in India reached a volume of 1.11 million metric tons in 2023. The market showed a moderate growth pattern with a year-on-year variation of 0.45% from 2022 to 2023, and a five-year compound annual growth rate (CAGR) of 0.48%. Historical data reflects fluctuations with notable events like a significant drop in 2017 by -5.06% and a sharp increase in 2015 by 7.8%. Over the last decade, the market has exhibited resilience despite these fluctuations.
From 2024 onwards, the market is forecasted to grow at a steady rate with a five-year CAGR of 0.33%, reaching 1.13 million metric tons by 2028, indicating an overall growth of 1.64% over this forecast period. Year-on-year growth rates are expected to remain around this relatively moderate pace.
Future Trends to Watch:
• Increased consumer awareness regarding health benefits of mate and tea.
• Growing adoption of herbal and specialty teas influenced by lifestyle changes.
• Expansion of e-commerce platforms facilitating easier market access.
• Potential impacts of climate change on tea crop yields and quality.
