Tea Market during Trends, Forecast 2021-2027

1. Tea Market, By TypeTrend Analysis, Competitive Market Share & Forecast, 2021-2027

2. Industry Trends & Forecast Report 2027 A study, recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global tea market was worth USD22.4 Billion in the year 2020. It is estimated to grow at the CAGR of 4.5%, earning revenue of around USD30.3 Billion by the end of 2027.Tea- the world’s most popular beverage, is manufactured from the leaves of the Camellia Sinens is plant. Increased awareness of the benefits of consuming tea, such as boosting the immune system, strengthening bones and teeth, and lowering the risk for heart disease, kidney stones, and cancer, are propelling the demand for tea across the world. Moreover, the increasing popularity of organic tea is also influencing the growth of the global tea market.

3. Growth drivers Increasing Inclination toward Herbal and Green Tea The major factor driving the growth of the global tea market is the rising consumer awareness regarding the health benefits of herbal and green tea. Moreover, increasing disposable income and alterations in the preferences and tastes of consumers in terms of beverages are contributing to the demand for tea worldwide. Market growth is also being driven by the introduction of many herbal teas with so many additional healthy ingredients by key players. Promoting tea schools and tea art training at tea expos and events across the country has made tea a flagship product among millennials, resulting in an increase in their tea consumption as well.

4. Restraints In the tea market, one of the major challenges is the lack of knowledge of proper farming practices necessary for tea production. In recent years, it has become increasingly difficult for tea producers to change their conventional farming systems into productive and sustainable practices. Also, the cost of the traditional tea production is significantly higher which restricts the growth of the organic market. Moreover, because of the expensive certification, the process involved in organic tea production and sales in the international market mainly discourages farmers from accepting organic farming.

5. Impact of COVID-19 COVID-19 has greatly affected tea producers across the globe mainly due to the nationwide and social distancing policies imposed by various countries to curb the spread of the virus. Due to the restrictions on export and import during the pandemic, a lot of uncertainty has been noticed in the global tea market. To control the spread of COVID-19 in tea communities, producers are taking a multitude of emergency response measures. On the other hand, many tea producers had shut down production of all agricultural industries for several weeks in March and April due to the strict lockdown measures worldwide.  Because of this pandemic-induced lockdown, tea producers and smallholder livelihoods have been seriously affected.

6. Global Tea Market: By Type Based on types, the global tea market has been segmented into Oolong Tea, Green Tea, Black Tea, Herbal Tea, and others. Among these, the black tea segment holds for the largest market share of the global tea market due to the major health benefits it offers. The antioxidants in black tea help block DNA damage caused by tobacco or other toxic chemicals. Antioxidants present in black tea are very different from those found in fruits and vegetables. Therefore, by including black tea regularly in your diet, consumers can gain additional health benefits.

7. Global Tea Market: By Distribution Channels Based on distribution channels, the global tea market is grouped into Store-Based and Non-store Based segments. The store-based segment is further classified into supermarkets &hypermarkets, convenience stores, and others. Compared to other distribution channels in this category, the demand for purchasing tea from supermarkets is comparatively higher. However, due to the increasing use of mobile phones and the internet, many consumers prefer buying tea online. Thus, the tea market is expected to grow in the foreseeable future due to the increasing penetration of mobile phones and use of the internet. These e-commerce sites also offer many discounts and coupons, and home delivery features that attract a large consumer base.

8. Global Sports Equipment Market: Regional Insights Based on the regions, the global tea market is categorized into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among all these regions, the Asia Pacific dominates the global tea market with the largest market share. This region is expected to increase immensely during the forecast period due to rising tea culture and increasing demand for tea from millennials. Additionally, the market is impacted by the presence of several key players in this region, which impacts its growth. Sample Copy :https://www.blueweaveconsulting.com/global-tea-market/report-sample

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