Global Tea and Tea Based Beverages Market 2022-2028 Research and Forecast^J 2019-2025

Global Tea and Tea Based Beverages Market 2022-2028 Research and Forecast^J 2019-2025

The global market for tea and tea-based beverages is projected to have a conf considerable CAGR of around 5.5% during the forecast period. Tea and Tea Based Beverages are aromatic beverages that are mainly prepared by infusing the leaves of camellia Sinensis. Tea is one of the oldest beverages that is made by soaking dried tea leaves in water. The health benefits such as antioxidants present in tea help to reduce issues of heart attack and strokes is the major factor driving the growth of the market. The expansion of the tea and tea-based beverages market through online business is anticipated to have significant growth in the coming years.This is attributed to the increasing use of smartphones and the internet in various undiscovered global markets. Moreover, Internet retailing that connected with the simple accessibility of various types of tea and tea-based beverages in different formats including ready-to-drink tea, tea bags, and loose tea powder is also estimated to drive the growth of the market.

Impact of COVID-19 on Global Tea and Tea Based Beverages Market

The outbreak of COVID-19 has acted as a significant restraint on the tea and tea beverages manufacturing market in 2020, as supply chains have been disrupted due to trade restrictions and consumption has declined due to lockdowns imposed by governments around the world. The supply of raw materials from domestic and international suppliers is critical to food and beverage manufacturers. Since many governments restricted the movement of goods across borders and within countries, manufacturers were forced to halt production due to a lack of raw materials. The COVID-19 outbreak will negatively impact the tea and tea beverages market business throughout 2020 and in 2021 as well. However, the tea and tea beverages market is expected to recover over the forecast period because it is an unanticipated event unrelated to ongoing or fundamental weaknesses in the market.

Segmental Outlook

The global tea and tea based beverages market is segmented based on type, format, and nature. Based on the type, the market is further classified into green tea, black tea, oolong tea, herbal tea. Based on the format, the market is further segregated into ready-to-drink, loose tea powder, tea bags. Further on the basis of nature, the market is classified into organic and conventional.

The Green Tea segment is estimated to have significant CAGR in the global Tea and Tea Based Beverages market

Among Tea types, green tea held a considerable growth in the market owing to the increasing awareness of its health benefits, rise in health-conscious population, continuous growth of online retail, and others. The growing prevalence of lifestyle diseases such as obesity has increased the demand for green tea taken as a source of nutrients to reduce the chances of occurrence of such disorders. Moreover, the increasing demand for functional beverages among millennials has influenced the key players to introduce novel types of green tea and capitalize on the market based on modern consumer demands. Additionally, many scientific types of research and studies are proving the goodness and health benefits of green tea in preventing certain disorders is considered to drive the segment in the tea and tea-based beverages market.

Regional Outlook

Geographically, the global Tea and Tea Based Beverages market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Europe accounted to have a significant share in the market during the forecast period where the UK is the major consumer of tea. Whereas North America is one of the fastest-growing region markets attributing to factors such as increasing demand for green and herbal tea in the US, and major prevalence of obesity in the region.

The Asia Pacific is estimated to have the largest market share in the global Tea and Tea Based Beverages market

Geographically, Asia Pacific is projected to hold a major market share in the global Tea and Tea Based Beverages market. Major economies that are anticipated to contribute to the North American Tea and Tea Based Beverages market are China and India due to their large population base. The major factors that contributing to the market include a high rate of consumption of tea in the following region, increasing number of retail and franchise outlets in the region. Moreover, the rising of various tea brand awareness and increasing product visibility of high-quality products, flavors, and aromas are also driving the growth of the market in the region. Further, consumers from many places of Asia are raising demand for premium tea and are looking for unique flavors of tea with high quality, therefore this factor may fuel the growth of tea and tea-based beverages in the region.

Market Players Outlook

The key players in the Tea and Tea Based Beverages market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Unilever PLC., The Hain Celestial Group, Inc., Starbucks Corps., Nestlé S.A., Tata Consumer Products LTD, among others. These market players adopt various strategies such as product launches, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. In November 2019, The Lipton introduced REALI-TEAS in its limited-edition version of its wellness line assisting people in dealing with the holidays while embracing wellness. This product launch will benefit those consumers who are on holiday but do not want to compromise with their health, so having this product will balance their wellness in any season.

The Report Covers

Market value data analysis of 2021 and forecast to 2028.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global Tea and Tea Based Beverages market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market entry and market expansion strategies.

Competitive strategies by identifying 'who-stands-where in the market.