Asia-Pacific Tea Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Tea Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Tea Market is witnessing a CAGR of 2.4% during the forecast period (2020-2025).

Key Highlights

• Growing inclination of demand from traditional tea to premiumization is expected to grow in the years to come. India, China, and Japan are among the top consumers of tea. Even though coffee poses a serious threat, the popularity of tea culture is expected to dominate the market during the forecast period.
• Asia-Pacific is currently driving towards loose formats in packaged tea innovation. Teabag category in China and the wider Asia-Pacific region has definite growth potential with more tea bag innovations coming from Asian Tea manufacturers.
• Growing inclination towards Functional/fortified beverages is expected to create potential scope for the tea market.

Key Market TrendsIncreased Exports Of Tea From Asia-Pacific Region

There is a growing trend for health consciousness among people across the globe, encouraging consumers particularly millennials to opt for tea instead of carbonated beverages. The increase in demand for tea is due to the health benefits of tea coupled with enhanced awareness of herbal ingredients present in it. Countries like China and India being the top producers of tea were able to meet the growing demand by exporting the tea across the world. China held the largest share in values of the global tea exports market, accounting for 22.9 percent, followed by India with 9.8 percent. In 2018, Asian countries generated USD 4.1 billion worth shipments accounting for 58.8% of the global total share. With more consumers preferring tea in the coming years, the tea market is growing further during the forecast period.

Black tea is the fastest growing segment in China & Japan

China, the world's top producer and the largest consumer of green tea, is now exploring black tea from India, Srilanka, and China. Black tea is associated with many health benefits - Contains polyphenols which act as antioxidants that help in preventing the DNA damage caused by tobacco or other toxic chemicals. With a rise in health awareness and growing western influence, young Chinese and Japanese prefer black tea. In 2018, India shipped 4.4 million kilograms of black tea to China. Kenya exported 1.8 million kilos of Kenyan black tea. The demand for black tea is poised to grow at a faster rate due to growing consumer interest and increasing health awareness pertaining to tea consumption.

Competitive Landscape

The Asia-Pacific tea market is competitive and fragmented in nature owing to the presence of many regional and domestic players. Emphasis is given on the merger, expansion, acquisition and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. For instance, in February 2018, APIS India, one of the leading producers, distributors, and exporters of quality honey, has now added Dates, Fruit Jam “Fruitilicious”, Green Tea “Five Senses” & Pickle “Spicelicious Mixed Veggies” to its delectable portfolio. The Asia-Pacific tea market includes the company profiles of Unilever PLC, Dilmah Ceylon Tea Company PLC, Hain Celestial, Tata Global Beverages, R. Twining and Company Limited, The Republic of Tea, Mcleod Russel and James Finlay.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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