Global Green Tea Market - 2021-2028

Global Green Tea Market - 2021-2028

Market Overview

Camellia sinensis plant is used in the preparation of green tea. The dried leaves and leaf buds of these plants are used in the making of green tea. These leaves are made by pan-frying and steaming them, and drying them. Green tea has been shown to help with depression, cancer, and a variety of other health problems. The global market is expanding rapidly, owing to growing consumer awareness of green tea's health advantages. The rising prevalence of lifestyle-related health problems has boosted the demand for tea as a nutrient source to help prevent these problems. To leverage on modern consumer needs, key players have introduced unique types and forms of green type tea to profit on the rising popularity of functional beverages among millennials. The growing number of scientific researches and studies proving the positive role of tea in preventing certain diseases is expected to drive market growth in the upcoming years. The global green tea market valued USD XX million in 2020 and is forecast to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028)

Market Dynamics:

Increasing awareness about the health benefits of green tea

The demand for beverages such as tea that contain a high number of antioxidants has increased in recent years, due to the recognition regarding the positive health effects of antioxidants. The global green tea production is projected to increase at a rate of 7.5% annually, according to the Food & Drug Administration, driven by the emerging trend of antioxidant-rich beverages. Consumption of antioxidants and flavonoids augment cardiovascular health, physical and mental stress response, and several other functions in the body, according to various clinical studies carried out recently. Epidemiological observations carried out by the Indian Tea Association suggest that green type of tea consumption is associated with lower cancer rates of breast, prostate, and esophagus. Over 88 million American adults are prediabetic, according to the National Diabetes Statistics Report by the Center for Disease Control. The increasing awareness of the strong association between the overall wellbeing and consumption of antioxidant-rich food & beverages, contributes to the growing demand for green tea. Furthermore, in the past few years, the demand for green tea has gained remarkable popularity among consumers as an instant source of nutrients. Green tea contains high amounts of antioxidants that help improve normal body functions and reduce the aging of cells and tissues. To lower the risk of certain health problems, growing demand for nutrient-enriched beverages fuels the global green tea market.

The high cost of green tea, on the other hand, is projected to stifle market expansion to some extent. The price of green tea continues to be a key source of concern for the tea business. The Asian countries of China, India, and Japan produce the most of this tea variety. Farmers' lack of knowledge about excellent farming methods and the safe use of agrochemicals limits production and raises the cost of the product. Moreover, tea production is highly reliant on specific weather conditions, making it extremely vulnerable to climate change.

Market Segmentation:

Tea bags segment held largest market revenue share in the year 2020

Due to modern-day hectic lifestyles, the traditional method of brewing tea is being replaced by more convenient methods. Tea bags have the largest market share because of their widespread availability, ease of storage, and portability. Manufacturers are investing in environmentally friendly and food-grade tea bags to meet rising customer demand for clean-label products, owing to technological advancements in the tea processing industry. In the forecast period, market growth is likely to be fueled by the growing popularity of novel flavors in tea bags.

Flavored green tea is expected to hold highest market revenue share of XX% in the year 2020. Due to their appealing flavors and health-improving nutritional profiles, flavored green teas are gaining popularity among consumers all over the world. With the advent of new distribution channels, flavored teas are becoming more mainstream across retail channels. Due to the growing trend of flavored beverages, adding flavors like honey, citrus, floral, and fruity to packaged teas increases their market value and visibility.

Geographical Penetration:

Asia Pacific is expected to dominate the global green tea market in the year 2020

The large production of green tea in Asia Pacific is primarily responsible for the region's strong growth in the green tea market. With a long history of green tea production, China is the world's top consumer of the beverage. China produces 480,000 tons tea a year. Green teas are also produced in Japan (83,000 tons), Vietnam-(31,000 tons), Indonesia (38,000 tons), India (9,000 tons), and Russia (2,000 tons). Green tea has gained popularity among consumers in recent years as a result of its health-promoting nutritional profile. Consumers in countries like India have largely contributed to the market's growth by raising their awareness of its health benefits and increasing their discretionary incomes. As of 2019, India was the second largest tea producer in the world with production of 1,339.70 million kgs. In July 2021, estimated tea production in India stood at 179.01 million kgs. The country is home to a wide variety of teas, including CTC tea, orthodox tea, green tea and organic tea. Unlike many other teas producing and exporting nations, India has a manufacturing base for both CTC and orthodox tea in addition to green tea.

Due to the immense potential for the tea industry, North America is predicted to occupy a large market revenue share in the year 2020. The increased awareness of the health advantages of green tea is largely responsible for the region's green tea market growth. The prevalence of lifestyle-related health conditions such as obesity, diabetes, and cardiovascular disorders has increased among consumers as a result of today's hectic lifestyle. As a result, tea has become increasingly popular as a way to reduce the chance of developing these diseases. Tea has become more popular among millennials in the region as the popularity of functional beverages has grown.

Competitive Landscape:

Due to the presence of a large number of established and regional companies, the market is highly fragmented. Key players such as Tata Consumer Products Limited, Associated British Foods, Unilever plc and Numi, Inc. are focusing on acquisitions, new product developments and partnerships to gain a competitive market edge. Unilever plc, which owns the renowned green tea brand Lipton, is currently focusing on expanding its green tea portfolio in order to strengthen its market position. In March 2020, for example, the company and its partner PepsiCo released two new tea varieties: watermelon and white peach. The company will be able to increase its product selection in order to meet modern consumer demands as a result of this launch. In October 2020, Keurig Dr. Pepper, Inc. launched 100% recycled plastic bottles for its ready-to-drink green-type tea brands, Snapple and Core. In December 2019, OZiva, the leading clean-label nutrition brand in India, launched a new product called Matcha Plus, which is a healthy blend of organic Japanese matcha, licorice, activated charcoal, and ginger root.

COVID-19 Impact: Owing to growing health consciousness among consumers, the global green tea market is positively impacted

The global supply chain of various types of teas has experienced a sudden disturbance due to the outbreak of the COVID-19 pandemic. Nationwide lockdowns in various countries have resulted in the disruption of trade activities, which has slowed the growth of the green-type tea industry. However, the increased concerns related to immunity and overall health have re-established the demand for nutritional beverages across retail channels, which is expected to continue during & after the pandemic. The growing interest in consuming antioxidant-rich foods & beverages to reduce the risk of diseases is expected to further increase the demand for tea during and after the pandemic. According to a new study published in the journal RSC Advances, green tea might play an important role in tackling COVID-19 infection. It has high anti-inflammatory and anti-oxidative properties that could help reduce the risk of developing severe COVID-19 symptoms.

Why Purchase the Report?
Understand the current market scenario and viability of global green tea over the forecast period
Visualize the composition of the global green tea market in terms of flavor, form, and distribution channel to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global green tea market – Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global green tea market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages

Target Audience:
Food & Beverages Manufacturers
Foodservice Industry
Tea Producers and Processing Companies
Education & Research Institutes
Research Professionals