Healthy nature of green tea is attracting consumers from worldwide; wide range adoption of green tea is fuelling the demand of such beverages all across the globe. The global green tea market is anticipated to reach USD 50 billion at a CAGR of 7.5% over the forecast period i.e. 2016-2024. In 2016, nearly 1.7 million metric tons of green tea was produced and the value is expected to reach over 3.5 million metric tons by the end of 2024.
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Rapidly changing lifestyles of people and inclination towards healthy alternatives to have a balanced diet is increasing the adoption rate of green tea throughout the world. Green tea helps in regulating the metabolism rate and body functions. Moreover, medicinal benefit of green tea is a major factor driving the growth of green tea market all across the globe. The global green tea market segmentation has been carried out on the basis of product type, packaging and distribution channel. Packaging segment is further categorized on the basis of loose leaf and tea bags. Tea bags segment is projected to witness highest growth due to easy availability at super markets. Also availability of different flavours of green tea is likely to enhance market of tea bag packaging segment. Ready-to-drink (RTD) tea is the biggest transformation in green tea market. RTD green tea is convenient and a healthy alternative to other drinks and beverages available in the market. Rising urbanization and changing lifestyle has given rise to cafe culture among urban population. As most of the people prefer spending their leisure time in cafes is one of the key factor which is driving the ready to drink green tea market across the globe. Based on distribution channel, supermarkets are expected to witness healthy growth. However, tea shops accounted for largest revenue share in 2016. Online sale of green tea is also gaining traction mainly in the developing countries and is estimated to witness notable growth during the forecast period. Latin American region is anticipated to observer a high potential growth in the green tea market during the forecast period i.e. 2016-2024, due to increasing awareness and rising disposable income. Latin America green tea market is estimated to hold 5% revenue share of global green tea market in 2024, registering a robust CAGR during the forecast period.
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The global green tea market is categorized on the following basis:
• Based on Product Type
Others (Jasmine, Vanilla)
• Based on Packaging
o Loose Leaf
o Tea Bags
• Based on Distribution Channel
o Offline (Super market, Tea Shops)
• Based on Geography
o North America (U.S. & Canada)
o Latin America (Brazil , Mexico & Rest of Latin America)
o Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE)
o Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia)
o Middle East & Africa (GCC, South Africa, North Africa, RoMEA)
o Rest of World
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“Global Green Tea Market Outlook 2024” contains detailed overview of the global green tea Market in terms of market segmentation by product type, by packaging and by distribution channel.
Further, for the in-depth analysis, green tea market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global green tea market report also includes competitive outlook of some of the major players of the global green tea market which includes profiling of companies Tetley GB Ltd, Nestle S.A., DSM Nutritional Products, Tata Global Beverage etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global green tea market trends that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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