Some
of the prominent players operating in the global tea market are
Wissotzky Tea, Unilever, Akbar Brothers Ltd., Twinings of London, and
Tata Global Beverages Ltd. Convenience stores,
hypermarkets/supermarkets, food and drinks specialists, and retailers
are the most preferred distribution channels for the market vendors.
The market players are investing heavily in the sales of their
products through supermarkets and hypermarkets as these distribution
channels are anticipated to dominate through 2020. “The market
players are also trying to introduce innovative flavors of tea to
meet the increasing demand of consumers,” cites a TMR analyst.
The
various health benefits associated with the consumption of tea have
led to the growth of the global
tea market. Tea contains antioxidants and flavonoids, and is
helpful in reducing the risk of heart attacks and strengthening the
immune system. According to a research study by the U.S. Department
of Agriculture, drinking tea can help to lower the levels of Low
Density Lipoprotein (LDL) cholesterol. Furthermore, the consumption
of black tea has been associated with a significantly lower risk of
squamous cell carcinoma. The economic benefits and ample
opportunities of employment generated by the tea industry have also
augmented the market’s growth.
The
growing demand for green tea for beauty and skin care has opened new
avenues for the growth of the global tea market. “An increasing
number of beauty products manufacturers are introducing green tea
extracts in sunscreen formulations as green tea is associated with
reducing the impact of sunburns,” TMR report states.
The
key types of tea include CTC (crush, tear, and curl) tea and leaf
tea. Among the leaf tea segment, black tea accounted for a majority
share in the overall market in 2013. However, during the forecast
period, the green tea segment is anticipated to drive the demand from
the market and register the fastest growth. Among the packaged and
loose tea, loose tea dominates the market. To increase their market
share, the packaged tea manufacturers are introducing different
flavors of tea while enhancing the quality of tea.
The
global tea market is anticipated to expand at a CAGR of 2.8% during
the period between 2014 and 2020. The market was worth US$38.84 bn in
2013 and is projected to reach a value of US$47.20 bn by 2020.
The
information presented in this review is based on a Transparency
Market Research report, titled “Tea Market - Global Industry
Analysis, Trend, Size, Share and Forecast, 2014 - 2020.”
Global
tea market has been segmented as:
The
global tea market is segmented into:
By
Product
- Leaf Tea
- Black tea
- Green tea
- Oolong tea
- CTC tea
By
Region
- North America
- Europe
- Asia Pacific
- Rest of the World
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