Transparency
Market Research has published a new market report titled “Tea
Market by Product Type (Leaf tea and CTC tea) – Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2014 –2020.”
According to the report, the global
tea market was valued at US$38.84 billion in 2013 and is
anticipated to reach US$47.20 billion by 2020, expanding at a CAGR of
2.8% from 2014 to 2020.
Globally,
the most popular and easily available lowest cost beverage after
water is tea. Across the world, a wide range of age group consumes
it. A large number of people earn their livelihood through the
production and processing of tea. Leading countries for tea
production include China, India, Sri Lanka, and Kenya. Based on
product type, the tea market is categorized into leaf tea and CTC tea
(crush, curl, and tear). The leaf tea market is further sub segmented
into black tea, Oolong tea and green tea. The several health benefits
of tea consumption are the major factors driving the demand for tea
globally. Drinking tea helps to prevent arthritis, control blood
pressure, improve bone density, and reduce the risk of heart
diseases, by providing protection against cardiovascular and
degenerative diseases, among others. In addition, tea drinking helps
to reduce body weight.
The
market for tea is primarily driven by increasing demand for hot
beverages among consumers and growing awareness about the health
benefits of tea consumption. In addition, tea is easily available at
low prices as compared to other hot beverages such as coffee.
Moreover, the economic benefits of tea production such as huge
revenue generation and employment opportunity are further
contributing to the growth of tea market. The tea industry has played
an important role in the last few decades, and continues to occupy an
important place in the global economy. Tea plantations utilize a
large number of resources such as land, labor, and capital, and
provide relatively high returns. Moreover, tea plantations require
larger area of agricultural land. For example, Sri Lanka exports more
than 90 percent of its locally produced tea annually. The tea
industry is agro‐based and labor intensive. It provides direct
employment to over one million people. Thus, the tea industry creates
huge employment opportunities for people.
Tea
is consumed in two forms: packaged and loose. Loose tea occupies the
major share of the market, but packaged tea manufacturers are
targeting on increasing their market share by launching different
flavors of tea. The market for CTC tea is comparatively larger as
compared to the leaf tea market. Growing consumer demand for hot
beverages such as tea and easy availability at low prices are the
driving factors behind the growth of global CTC tea market. The tea
market is primarily driven by increasing consumer interest in healthy
products. People prefer to have tea not only as a refreshment
beverage; it also helps to gain different health benefits. Apart from
this, rising demand for green tea in beauty treatments and reduction
of body weight are the driving factors behind the growth of tea
market.
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In
terms of revenue, North America generates moderate revenue in the tea
market globally. The U.S. tea market is primarily driven by the
success of refrigerated and ready-to-drink (RTD) tea over the
forecast period. In addition, expansion of value-added sales network
for high quality loose tea helps to increase the demand for tea. Many
consumers are looking for an alternative to coffee as a refreshment
and energy enhancing drink. The U.S. is a major market for tea in
North America due to the increasing demand for a wide variety of tea
flavors in the country.
The
tea market in Europe is primarily influenced by the growing awareness
for healthy and safe products among the consumers in Europe. Tea
leaves have a high amount of flavonoids, which are a group of
antioxidants that help to protect against the damage caused by free
radicals. In addition, flavonoids act as preventive compounds with
anti-cancer properties. Different types of tea such as black tea and
green tea is gaining popularity in Europe. The U.K. is the largest
consumer of tea in Western Europe with a market share of 63%,
followed by Germany with a market share of 11%. Factors such as
positive health benefits and low price of tea help to drive the
consumption of tea in the Europe market.
The
tea market in Asia Pacific is primarily driven by the growing demand
for premium varieties such as green tea and tea bags in the region.
Factors such as growing human population, and changing taste and
preferences are playing an important role in increasing the demand
for different varieties of tea in Asia Pacific. Furthermore, economic
benefits such as opportunity for employment creation, and huge
revenue generation through tea production are also expected to boost
the tea market in Asia Pacific. India and China are counted among the
major markets for tea in Asia Pacific due to the rapidly growing
population of these countries.
Latin
America and Middle East contribute heavily to the growth of tea
market due to its growing demand among consumers. Approximately 95%
of the tea consumption in Iran constitutes imported tea. Around
80-90% of tea produce is mostly imported from Sri Lanka and India.
Other major countries from which tea is imported include China and
Kenya.
Key
players in the tea market include Twinning of London, Unilever,
Wissotzky Tea, Akbar Brothers Ltd., and Tata Global Beverages Ltd
among others.
The
report segments the tea market as follows:
Global
Tea Market, Product Segment Analysis
Global
tea market, by product type
- Leaf Tea
- Black Tea
- Green Tea
- Oolong Tea
- CTC Tea
Global
tea market, by geography
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
Contact
Mr.
Sudip .S
90
State Street, Suite 700
Albany,
NY 12207
Tel:
+1-518-618-1030
USA
- Canada Toll Free: 866-552-3453
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