Tea Market to generate $68.95 Bn, Globally, by 2027 at 6.6% CAGR: Allied Market Research

Drivers, restraints, and opportunities Drivers, restraints, and opportunities Prevalence of tea consumption culture, different health benefits of tea, increase in awareness about weight loss, and expanding retail sector propel the growth of the global tea market. However, varying prices of raw material restrain the market growth. Contrarily, reduced demand for carbonated drinks and advent of new flavors create new opportunities in the coming years.  Request Sample Report at:...

Drivers, restraints, and opportunities

Prevalence of tea consumption culture, different health benefits of tea, increase in awareness about weight loss, and expanding retail sector propel the growth of the global tea market. However, varying prices of raw material restrain the market growth. Contrarily, reduced demand for carbonated drinks and advent of new flavors create new opportunities in the coming years. 

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Covid-19 Scenario

The green tea segment to continue its leadership status during the forecast period

On the basis type, the green tea segment contributed the largest market share in 2019, accounted for nearly one-third of the global tea market, and is expected to maintain its leadership status during the forecast period. Furthermore, this segment is estimated to witness the fastest CAGR of 9.8% from 2020 to 2027. This is due to health benefits such as enhanced digestion, improved heart & mental health, benefits of weight loss, and innovative advertisements and celebrity endorsements. The report also discusses segments such as black tea, fruit/herbal tea, oolong tea, and others.

The supermarket/hypermarket segment to maintain its lead position by 2027

On the basis of distribution channel, the supermarket/hypermarket segment held more than one-third of the global tea market in 2019, and is expected to maintain its lead position in terms of revenue by 2027. This is due to presence of wide variety of products, surge in footfall in emerging nations, and one-stop solution offered by them. However, the online stores segment is projected to register the highest CAGR of 8.4% from 2020 to 2027, owing to discounts and convenience offered by these online channels.

Asia-Pacific to maintain its dominance by 2027, North America to grow steadily

Based on region, Asia-Pacific accounted for to the highest market share in 2019, holding nearly three-fourths of the total market share of the global tea market, and will continue its dominance during the forecast period. Moreover, this region is projected to manifest the largest CAGR with a CAGR of 7.3% during the forecast period. This is attributed to advent of tea culture in countries such as China, India, and Japan along with surge in popularity of black tea with its health benefits. However, North America is estimated to witness the second-highest CAGR of 5.5% from 2020 to 2027.

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