Summary
Major players in the tea market are Barry’s Tea Limited, ITO En Ltd., Nestle S.A, TATA Global Beverages, The Republic of Tea Inc., Unilever Group, Taetea Group, Mcleod Russel India Ltd., Hain Celestial Group Inc., Apeejay Surrendra Group, Davids Tea, Numi Organic Tea, Teavana Corporation, Mighty Leaf Tea Company, Numi Organic Tea, Godrej Group, Harney & Sons Fine Teas, and M. M. Ispahani Limited.
The global tea market is expected to grow from $50.15 billion in 2022 to $53.59 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The tea market is expected to reach $65.87 billion in 2027 at a CAGR of 5.3%.
The tea market consists of sales of white tea, pu-erh tea, and yellow tea.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Tea is a beverage made from the cured leaves of the camellia sinensis (tea) plant combined with hot water. Teas can strengthen the immune system, decrease inflammation, and possibly protect individuals from cancer and heart disease.
Acia-Pacific was the largest region in the tea market in 2022.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in tea report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of tea are green tea, black tea, oolong tea, fruit or herbal tea and others.Green tea refers to a beverage or nutritional supplement that is marketed for enhancing mental clarity, easing headaches and gastrointestinal complaints, and encouraging weight loss.
The packaging involved in plastic containers, loose tea, paper boards, aluminum tins and tea bags which are distributed through supermarkets or hypermarkets, special stores, convenience stores, online stores and others. It is used for residential and commercial purposes.
The growing demand for herbal tea is expected to propel the growth of the tea market going forward.Herbal tea refers to a tea with dried herbs and spices that often has no caffeine.
It is a beverage created by steeping several plants’ leaves.Herbal tea is a type of tea whose benefits include lowered inflammation, lowered stress levels, support for the immune system, and more; it supplements a healthy eating regimen.
For instance, in October 2022, according to data sourced from Euromonitor International, 2022 published by Canada Statistics, a Canada-based government agency, the forecast fruit/herbal tea retail value sales in 2022 was $144.1 million, which will rise to $286.1 million in 2026. Therefore, the growth in demand for herbal tea is driving the growth of the tea market.
The introduction of specialty iced teas is a key trend gaining popularity in the tea market.Major companies operating in the tea market are introducing specialty iced teas to strengthen their position in the market.
For instance, in September 2022, Honest tea Inc., a US-based organic tea and beverages company introduced a specialty iced tea named "Just Ice Tea", a ready-to-drink organic iced tea. The launch Just Ice Tea’s team’s goal is to promote "Justice" through Fair Trade premiums and working standards, which relate to a set of environmental and working standards. The company is dedicated to protecting the environment through organic accreditation, which forgoes the use of artificial pesticides, herbicides, insecticides, and fertilizers.
In July 2022, CVC Capital Partners, a Luxembourg-based private equity and investment advisory firm acquired Ekaterra, a Unilever’s tea business for 4.5 billion euros (USD 4.8 billion). This acquisition aims for additional development in carrying out and growing their business. Ekaterra is a Netherlands-based tea and beverage company.
The countries covered in the tea market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The tea market research report is one of a series of new reports that provides tea market statistics, including tea industry global market size, regional shares, competitors with tea market share, detailed tea market segments, market trends, and opportunities, and any further data you may need to thrive in the tea industry. This tea market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
