Executive Summary The Global Tea Market was valued at USD 21. 9 billion in the year 2020. With the increased demand of tea in highly populated countries such as China and India, the growth rate of tea market is increasing and is expected to grow further in upcoming years.
New York, July 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Tea Market (2021 Edition) – Analysis By Type (Green, Black, Oolong, Herbal, Others), Packaging Type, Distribution Channel, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)" - https://www.reportlinker.com/p06102467/?utm_source=GNW
Millennial tea lovers are not content merely with the regular hot tea, green or iced tea as they aspire to go beyond and explore the beverage as a treasure of taste and fragrances. Hence, the tea market is driven by premiumization as the industry is witnessing a shift from black tea to flavoured tea with specialised tea shops initiating a trend of out of home tea consumption.
However, black Tea segment will continue to hold a major share of the Global Tea Market because of its major health benefits such as antioxidants that help block DNA damage associated with tobacco or other toxic chemicals. These antioxidants are different from those obtained from fruits and vegetables and therefore as a regular part of daily diet they can provide additional benefits towards a healthy lifestyle.
Asia pacific region is anticipated to grow enormously in the market on account of increasing tea culture and rising demand of tea from millennials. Furthermore, the presence of some key market players in the region also supports the market growth in this region throughout the forecast period and beyond. APAC will offer several growth opportunities to market players during the forecast period. The growing population of middle-income group and rising demand from youth population along with increasing rate of tea production in developing countries such as China and India will significantly drive Tea market growth in this region over the forecast period.
Further, the demand for purchasing tea from Supermarkets is comparatively higher as compared to other distribution channel in this category, globally. But due to increasing use of internet, people are preferring online platforms to purchase tea which is likely to accelerate tea market growth in forecast period.
Scope of the Report
• The report analyses the Tea Market by value (USD Million).
• The report analyses the Tea Market by volume (Thousand Tonnes).
• The report presents the analysis of Tea market for the historical period of 2016-2020 and the forecast period of 2021-2026.
• The report analyses the Tea Market by Type (Green Tea, Black Tea, Oolong Tea, Herbal Tea, Other).
• The report analyses the Tea Market by Packaging (Tin Box, Cardboard Box, Paper Pouch, Plastic Container).
• The report analyses the Tea Market by Distribution Channel (Supermarkets, Specialty Stores, Online).
• The Global Tea Market has been analysed by countries (United States, Canada, United Kingdom, Germany, Italy, Spain, China, Japan, India, Turkey).
• The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by type, by Packaging, by Distribution Channel.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Associated British Foods, Unilever, Nestle, ITO EN Inc., Hain Celestial Group, Davids Tea, Mcleod Russel India Ltd, Tata Global Beverages, Kusmi Tea, Tea Forte.
Key Target Audience
• Tea Industry Vendors
• Consulting and Advisory Firms
• Government and Policy Makers
• Regulatory Authorities
Read the full report: https://www.reportlinker.com/p06102467/?utm_source=GNW
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