Press Release: March 31, 2020
Tea is one of the popular non-alcoholic beverage drinks which was originated in China around 59 BC and was first used for medicinal purposes. With the passage of time, the tea got popular in different parts of the world due it’s therapeutic benefits and pleasant aroma. The tea includes different types of vitamins, amino acids, flavonoids, and trace minerals leading to stronger immunity and improved metabolism.
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Growing fitness and health conscious population and rising number of tea consuming population are few of the factors which are driving the global tea market. For example, tea consumption occupies more than 75 .0% share in the Indian non-alcoholic beverage market which amounts to more than USD 28.0 billion market revenue. The people in the age group of 18-30 years and above 58 years are the main consumers of the tea across the globe. Further, with the growing number of tea lovers across the world and their shift from drinking traditional tea to try other types of tea have started driving the tea café’s market in the world. However, the availability of substitute drinks such as coffee and side effects after consuming excess tea such as insomnia, anxiety, and stomach ulcers are some of the factors which are hindering the market growth.
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Various notable players operating in the market, include Nestle S.A., DSM Nutritional Products, Oregon Chai Inc., Typhoo (Apeejay Surrendra Group), Tata Global Beverages, Associated British Foods Plc., Tazo Tea Company, Bettys & Taylors Group Ltd., McLeod Russel, and Kazi Tea. Most of the players in the market are focusing on introducing new tea varieties to attract tea lovers. For instance, in April 2018, Typoo India announced that the company will be introducing new options in its Green tea product portfolio in the coming months due to the growing number of green tea consumers in the country.
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The global tea market has been segmented based on type, packaging type, the point of sales, applications, and key geographies. Based on the type, the market is segmented into green tea, black tea, Oolong tea, herbal tea, and others. Based on packaging type the market is segmented into tea bags, instant tea, loose tea, plastic box, tea pouches, aluminium tins, and others. Based on Point of Sales, the market is categorized into online, retail stores and supermarkets. By Application, it is categorized into residential and commercial.
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