Tea is a beverage prepared by brewing or boiling dried leaves of the plant Camellia sinensis, an evergreen shrub native to Asia. Tea is considered as the most popular beverage after water across the globe. Tea offers various health benefits due to presence of polyphenols working as antioxidants, vitamins, trace minerals, and different amino acids which provides strong immunity, lower cholesterol, increased metabolism, prevention of cancer, and many more.
Increasing health awareness due to consumption of tea having anti-oxidant and anti-bacterial properties helps to support growth of the global tea market over the forecast period. In addition, introduction of numerous flavors is fuels growth of this market in the near future. Furthermore, rising incidence of obesity cases and cardiovascular diseases across the globe is another factor supporting growth of target market as green tea reduces the effect of LDL cholesterol levels in the body, cancerous cells and reduces bodyaches.
On the basis of type, the market is segmented into green tea, black tea, oolong tea, herbal/fruit tea, and others (white tea, dark tea, and yellow tea). Black tea segment accounted for major revenue share in the market, owing to individual’s preference for black tea because of its distinctive and diverse test and it is expected to continue its dominance over the forecast period.
On the basis of distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. Among the distribution channel segment, the supermarket/hypermarket is estimated to have highest revenue share in the global tea market.
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to increasing awareness of health benefits due to consumption of tea and availability of various flavors in the market in various countries in this region.
Key players operating in the global tea market include Tata Global Beverages Limited, Unilever, TAETEA, Nestlé S.A., Barry’s Tea Limited, Apeejay Surrendra Group, Bettys & Taylors Group Ltd., McLeod Russel India Limited, ITO EN Inc., and Mighty Leaf Tea Company.