Tea Market: Global Industry Analysis and Forecast (2024-2030)

Global Tea Market size was valued at US$ 75.93 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 6.6% through 2024 to 2030, reaching nearly US$ 118.77 Bn.
Global Tea Market Overview:
The Global Tea market was valued at US $75.93 Bn. in 2023, and it is expected to reach US $118.77 Bn. by 2030 with a CAGR of 6.6% during the forecast period. Tea is a pleasant beverage made from the Camellia Sinensis plant.

It is one among the world's most popular beverages. The most popular teas are black and green teas, with herbal tea gaining popularity. Tea is considered a healthy beverage since it contains a variety of powerful antioxidants as well as minerals including potassium, manganese, magnesium, and calcium.
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Global Tea Market Dynamics:
Due to the presence of tea culture in the emerging market, tea has become extremely popular. Furthermore, rising health consciousness and disposable income have supported the tea market's growth. Other factors driving the market's growth include the introduction of additional beneficial components in tea by various market players.

The major restraints for this market are a rise in the trend of coffee consumption and changing raw material prices caused by unexpected weather circumstances. On the contrary, the tea market is expected to grow as demand for herbal tea increases and new flavours and varieties of tea are introduced.

The growing popularity of organic tea is expected to boost the tea market's growth. To attract more customers, manufacturers invest in R&D to improve the quality and flavour of their products. For example, Green Hills created Rum and Honey Flavoured Herbal Tea to attract to those seeking low-sugar beverages. The product is alcohol-free but contains liquorice, apple, cinnamon, and star anise, which give it an alcoholic flavour.

Teas such as black, green, and herbal teas are the most popular among customers all over the world. Green tea is becoming more popular among pregnant women, health-conscious adults, and the aged due to its antioxidant benefits. Oolong tea is a blend of black and green teas that has been shown to help prevent high blood cholesterol and type 2 diabetes.

In China and Japan, the product is extremely popular. Green and herbal teas, such as chamomile and jasmine, are also extensively utilized as a treatment for blemish-free skin and good hair, driving up demand for the product. These are the key factor that drives the growth of the global market during the forecast period.
Global Tea Market Segment Analysis:
The Global Tea Market is segmented by Product, and Applications.

Based on the Product, the market is segmented into Black, Green, Oolong, and Herbal. Black Tea segment is expected to hold the largest market shares of 42.5% by 2030. This is due to an increase in the number of tea drinkers around the world.

Black tea is also popular among health enthusiasts due to its high concentration of antioxidants and polyphenols. Vitamin C, zinc, iron, magnesium, copper, manganese, potassium, fluoride, and calcium are all present in black tea extract. In comparison to green tea, black tea extract contains more antioxidants and is anti-allergic, anti-viral, and anti-spasmodic.

The size of the black tea extract market has been positively influenced by rising demand for herbal treatments. During the forecast period, functional foods containing botanical ingredients can see a significant increase in consumption.

The conventional auction system, which was established during colonial rule to ensure a steady supply of black tea for British, Dutch, and North American consumers, is now entirely focused on black tea.

Industrial black tea production began in India, Sri Lanka, East Africa, and Indonesia about 150 years ago, primarily for export. These are the key benefit that drives the growth of the black tea segment in the global market during the forecast period 2024-2030.

Green Tea segment is expected to grow rapidly at a CAGR of 9.8% during the forecast period. This can be attributed to an increase in health and fitness awareness, as well as an increase in the number of fitness conscious tea consumers.

Furthermore, the frequency of direct-to-consumer advertising and celebrity endorsements is increasing, which helps this segment of the tea market flourish. There's the vast globe of green teas, which are grown and consumed by traditional tea-producing countries such as China, Vietnam, Japan, and Korea, which have been growing tea for many years as a lasting tribute to their people.

There are no auction platforms in China, which is commonly regarded as the origin of tea cultivation, and no agreed-upon grading and quality standards. These are the major key factor that drives the growth of the green tea segment in the global market during the forecast period.

Based on the Applications: The market is segmented into Supermarkets and Hypermarkets, Specialty Stores, and Online. Online distribution channel segment is expected to grow rapidly at a CAGR of 5.9% during the forecast period.

The advent of online apps, together with the availability of discounts and quick product delivery, has a favourable impact on the market's supply chain. For example, retailers like Walmart and Big Basket, among others, provide a diverse selection of flavoured teas with both online and offline delivery options. These are the key factor that drives the growth of this segment in the global market during the forecast period.

Based on category, tea market is divided into organic and conventional. Conventional tea segment held largest market share in 2023. Conventional tea is the traditional form of tea, grown with the use of chemical pesticides, fertilizers, and conventional farming methods. It has lower cost and is easily available in the market. Conventional tea, especially black tea, is a staple beverage in many countries, particularly in Asia, Europe, and North America. Organic tea segment is growing rapidly due to increase in health consciousness among consumers to organic tea. Organic tea is often marketed as a premium product due to its higher production costs, which can result in higher price points. Consumers willing to pay for organic products are typically more affluent or focused on health and wellness.
Global Tea Market Regional Insights:
As per market predictions, Asia Pacific and Europe will have the biggest market shares, at 40% and 30% (U$D 0122.2 Bn.), respectively, by 2030. This simply highlighted the large production and consumption of tea in those regions.

Due to the prevalence of tea culture, China is expected to grow at the highest CAGR during the forecast period. These are the key major factor that drives the growth of the Asia Pacific and Europe regions in the global market during the forecast period 2024-2030.

North America is expected to grow rapidly at a CAGR of 6.0% during the forecast period. Easy availability of products from companies such as Twining’s, Numi Organic Tea, and Tata Global Beverages, among others, is expected to boost regional market growth during the forecast period.

Leading Indian companies like Tata Global Beverages and Apeejay Surrendra Group make a wide range of products for high-end clients in India and around the world. Teabox, an Indian speciality store, has launched an exclusive line of tea made entirely of organic and natural ingredients and kept cold to preserve the product's aroma and freshness. As a result, some products are more expensive than standard products.

Middle East and Africa (MEA) is expected to grow rapidly at a CAGR of 7.3% during the forecast period. Turkey and Iran, for example, are two of the world's largest consumers. Rising per capita income, more awareness of product benefits and changing food and beverage habits are all expected to contribute to the industry's growth. These are the key factors that boost the growth of the Middle East and Africa (MEA) region in the global market during the forecast period 2024-2030.

The objective of the report is to present a comprehensive analysis of the Global Tea Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the Global Tea Market dynamic, structure by analyzing the market segments and project the Global Tea Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Tea Market make the report investor’s guide.
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Global Tea Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 75.93 Bn.


Forecast Period 2024 to 2030 CAGR:
6.6%
Market Size in 2030:
US $ 118.77 Bn.


 Segments Covered:
by Product Type
Green Tea
Black Tea
Oolong Tea
Others


by Category
Organic
Conventional


by Packaging
Plastic Containers
Loose Tea
Paperboards
Aluminum Tins
Tea Bags
Others


by Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Convenience Stores
Online
Others



Global Tea Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Global Tea Market Key Players
1. Nestle S. A.
2. Goodricke
3. Wissotzky Tea
4. Akbar Brothers Ltd.
5. Tata Consumer Products Limited
6. The Republic of Tea
7. Davids TEA
8. Assam Company India Ltd.
9. LIPTON Teas and Infusion
10. Caraway Tea Company
11. Harris Tea Company
12. JDE Peet's
13. Bigelow Tea Company
14. Genuine Tea Co
15. Indong Tea
16. Rabea Tea
17. Mighty Leaf Tea
18. Ito En
19. Teavivre
20. Tealyra
21. Betjeman & Barton
22. TeaGschwendner
23. Teekanne
24. Teekampagne
25. Yogi Tea

Frequently Asked Questions:

1] What segments are covered in Tea Market report?
Ans. The segments covered in Tea Market report are based on Product, Distribution Channel and Applications.

2] Which region is expected to hold the highest share in the Global Tea Market?
Ans. Asia Pacific and Europe are expected to hold the highest share in the Global Tea Market.

3] Who are the top key players in the Global Tea Market?
Ans. TATA GLOBAL BEVERAGES LIMITED, UNILEVER PLC, ASSOCIATED BRITISH FOODS PLC, BARRY’S TEA, and APEEJAY SURRENDRA GROUP are the top key players in the Global Tea Market.

4] Which segment holds the largest market share in the Global Tea market by 2030?
Ans. Black Tea segment hold the largest market share in the Global Tea market by 2030.

5] What is the market size of the Global Tea market by 2030?
Ans. The market size of the Global Tea market is US $118.77 Bn. by 2030.

6] What was the market size of the Global Tea market in 2023?
Ans. The market size of the Global Tea market was worth US $75.93 Bn. in 2023.