Tea is one of the prevalent and lowest costs of beverages consumed globally. The rising demand for tea is considered one of the significant components for the worldwide beverage market growth. The major tea producing countries are China, Sri Lanka, India, Kenya and Indonesia. These countries are the most important producers globally, representing almost 75% of world production. According to Renub Research, the Global Tea Market is expected to be US$ 71.784 Billion by the year 2026.
Tea is considered a healthy beverage due to several potent antioxidants and minerals as potassium, magnesium, calcium & manganese. It is a fragrant beverage imitative from the Camellia Sinensis plant. It is one of the principally consumed beverages worldwide. Green tea and Black tea are trendy tea, although herbal tea is gaining popularity. Usually, tea consumption will help reduce cell damage due to free radicals and lowers cholesterol levels and facilitates healthy weight loss.
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The global tea market is growing due to changing lifestyle. Increasing disposable income of the middle-class populace, mainly in urban areas, is expected to drive the consumption market and drive market growth. Millennials are frequent consumer of premium and health-oriented tea products. In the last five years, various tea lounges have been opening worldwide, especially in countries like the United States, Europe, Japan, Brazil, Russia, China, India etc. As per this market research report, Worldwide Tea Market was valued at US$ 47.43 Billion in 2020.
Increasing awareness regarding the benefits of drinking tea coupled with a readiness to shell out money on the product is expected to drive the demand. Hence, to leverage this trend, several manufacturers reposition their products as lifestyle label to reach more consumers. These companies engage in social media advertising and celebrity campaigns to promote their new and premium flavours. Our research says that the Global Tea Industry will register a healthy CAGR of 7.15% from 2020 to 2026.
We have studied, by Type, Global the tea market breaks up with five viewpoints; Green Tea, Black Tea, Oolong Tea, Herbal Tea, and Others Tea. By Packaging: Global tea market breaks up into five viewpoints; Plastic Container, Loose Tea, Paperboards, Aluminium Tins, and Tea Bags. Paperboards and Loose Tea. Global Paperboards tea is the major market in 2020 due to flexibility and excellent remarkable design of barrier properties. By Distribution Channel: Global tea market breaks up into five viewpoints; Supermarkets/ Hypermarkets, Specialty Stores, Convenience Stores, Online Stores and Others. The global tea market breaks up into two perspectives by Application; Residential and Commercial. The global tea residential market is a significant market due to the surge in caffeine beverages consumption at home.
We have covered by Region; Global tea market breaks up with five viewpoints; North America, Europe, Asia – Pacific, South America and Middle East & Africa. The Asia Pacific will hold a major market share during the forecast year, due to higher production and tea consumption in the region. By Company Analysis: Global tea market breaks up into five company, Tata Global Beverages, Unilever, Associated British Foods Plc., Nestle S.A. and Tenfu (Cayman) Holdings Company Limited.
Renub Research report titled “Global Tea Market” – By Type (Green Tea, Black Tea, Oolong Tea, Herbal Tea and Others Tea), By Packaging (Plastic Container, Loose Tea, Paperboards, Aluminium Tins and Tea Bags), and By Distribution Channel (Supermarkets / Hypermarkets, Specialty Stores, Convenience Stores, Online Stores and Others) By Application (Residential and Commercial) By Region (North America, Europe, Asia – Pacific, South America, and Middle East & Africa) Company Analysis (Tata Global Beverages, Unilever, Associated British Foods Plc., Nestle S.A. and Tenfu (Cayman) Holdings Company Limited) provides an all-encompassing analysis on the global Tea Industry.
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