Tea
market is expected to experience significant growth throughout the
forecast period. Globally tea consumption increases rapidly as it is
most preferred beverage next to water, available at low price.
Research shows that consumption of tea helps to prevent a wide range
of ailments. Tea has high antioxidants hence it is used in the
treatment of cancer, helps to prevent arthritis, improve bone
density, control blood pressure and reduce the risk of heart disease,
protect against cardiovascular and degenerative diseases among
others. Green tea consumption helps to protect against developing of
esophageal and stomach cancer. In this report, the tea market is
categorised into leaf tea and CTC tea (Crush, Tear and Curl). Leaf
tea is further categorised into black tea, green tea and oolong tea.
Health benefits of tea consumption are one of the major factors that
are fuelling the growth of tea market.
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Many
researchers speculate that the polyphenols present in tea inhibits
certain mechanisms that promote cancer growth. Moreover, both black
tea and green tea are credited with cancer inhibiting powers. A
recent study published in the journal “Circulation,” claims that
the consumption of more than two cups of tea in a day helps to
decrease the risk of death caused by heart attack by 44%. Tea is a
good source of flavonoids quercetin, myricetin, and kaempferol. High
dietary intake of these compounds reduces the risk of fatal heart
attacks. Moreover, black tea consumption helps to improve the
immunity power of the body, which is required to fight against any
flu. In a recent research, it has been found that people who gargled
with black tea extract solution showed a higher immunity against flu
virus compared to the people who did not.
Under
leaf tea, black tea held the largest market share in 2013 followed by
green tea and oolong tea. The tea market has experienced diversified
trends across different regions including North America, Europe, Asia
Pacific and RoW. Geographically, Asia Pacific region held the largest
market share in 2013, and is expected to continue its dominance
throughout the forecast period.
The
tea market is expected to witness stable growth owing to rising
demand for hot beverages in daily life. Further, the economic
benefits such as high revenue earning and huge employment opportunity
are also expected to boost the demand for tea globally. The situation
is further stimulated due to increasing consumer awareness about tea
consumption and its health benefits. In Asia Pacific, the tea market
is expected to grow significantly, due to growing demand from leading
markets such as India and China. Tea market in Asia Pacific region
generates huge revenue as tea is exported across the world.
Currently, tea
market in North America is smaller as compared to other developed
regions. However, this market is expected to witness decent growth
during the forecast period.
Major
markets such as India, China, U.K., Germany, the U.S. and Brazil
among others are expected to witness robust demand for tea in coming
years. Some key players in this market include Twinning of London,
Unilever, Wissotzky Tea, Akbar Brothers Ltd., and Tata Global
Beverages. Tea is sold through a variety of channels. Distribution of
products is another area of significant value addition. Major
distribution channels such as hypermarkets/supermarkets, retailers,
general merchandisers, convenience stores, and food and drinks
specialists are among the most preferred channels for the sale of
tea. Supermarkets and convenience stores have become popular channels
for the purchase of goods due to improvement in the living standards
of people in different developed countries. Supermarkets and
hypermarkets are likely to dominate the distribution channels by
2020.
Global tea market is valued at USD 40.03 billion in 2014 and is expected to reach USD 47.20 billion by 2020, growing at a CAGR of 2.8% from 2014 to 2020. The growth in the tea market is primarily attributed to growing demand for healthy hot beverages such as tea and increasing awareness of health benefits of tea consumption in different markets such as India, China, U.K., the U.S. and Brazil.
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