Albany - NY, Sept. 29, 2017 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research “ Tea Market (By Product – Leaf tea, CTC tea; By Type – Premium/Specialty tea, Mass tea) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025 ,” global tea market was valued at US$ 12,453.2 Mn in 2016, growing at a CAGR of 5.7% from 2017 to 2025 to account for US$ 2, 0038.3 Mn by 2025. In terms of volume, the global tea market is expected to grow at a CAGR of 4.6% from 2017 to 2025.
Tea is a very commonly consumed beverage after water and it contains flavonoids, phytochemicals and antioxidants which provide medicinal benefits and help in maintaining a healthy functioning of the body. The various health benefits associated with the consumption of tea are the major driving factors which helps to push growth of the market. The antioxidants help in combatting arthritis, control blood pressure levels and prevent the risk of cardiovascular diseases. Introduction of new blends of tea such as infusion of tea with different flavors (fruit, dessert and others) and fragrances and rise in consumption of herbal and green tea is also likely to play a crucial role in driving the growth trajectories of the market. Major challenges that are expected to create huge impacts on the growth and development of the tea industry are change in demographic conditions, climatic changes, resource constraints, availability of labor, changes in consumer preferences, and volatility of labor wages among others. Availability of cropping land is also one of the major challenges faced by the tea industry. In emerging countries, such as India, land constraint creates a major restraining factor towards the growth of the crop. The global tea market is expected grow with a steady growth rate of 5.7% and 4.6% in terms of value and volume respectively during the forecast period.
Based on segmentation of the global tea market has been segmented by product, type and region.
On the basis of product, the global tea market has been further segmented into, leaf tea and CTC tea. The market share of CTC tea is greater than the market share of leaf tea both in terms of value and volume during the forecast period. CTC tea is referred to as crush, tear and curl tea. In this process, tea leaves have been passed through cylindrical rollers to process black tea. Cost of production of CTC tea is much lower as the process is not that much of labor intensive as compared to orthodox tea. Hence, CTC tea can be produced at bulk with lower cost of production. Considering its low costs, this type of tea is mostly popular in India, Greece, Turkey, U.K., and Germany among others. Hence, increasing consumption of CTC tea and its easy availability is driving the market prospect of CTC tea over the forecast period. Leaf tea is obtained in the form of dried tea leaves. This tea is also known as orthodox tea. Leaf tea is a rich source of flavonoid antioxidants which is helpful for heart diseases, skin moisturizing and weight reduction. However, the leaf tea variety is expected to grow with the highest CAGR owing to its growing popularity related to health benefits.
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On the basis of type, the global tea market has been further segmented into premium/specialty tea and mass tea. Premium/specialty tea is prepared by infusing different organic ingredient and flavors to orthodox tea. Yellow tea, white tea, oolong tea and sometimes even the ready to drink tea are included in the type of specialty tea. Considering its high quality and health benefits, specialty tea are quite expensive as compared to traditional tea. With the rising percentage of young, educated, and health conscious consumers demand for specialty tea is likely to witness steady growth rate over the forecast period.The mass tea segment is expected to acquire a significant market share during the forecast period both in terms of value and volume. Mass tea is commonly known as CTC tea or traditional tea. This type of tea does not include any kind of organic ingredient or fragrances. This type of tea are less expensive as compared to premium/specialty tea.
Based on regional segmentation, the global tea market has been segmented into, North America, Europe, Asia Pacific, Middle East and Africa and South America. Europe is expected to hold a significant market share of about 34% in terms of value and 25% in terms of volume during the forecast period. Further, in terms of volume of consumption, Asia Pacific is expected to hold a considerable market share of 38% during the forecast period and is expected to maintain its dominance. Moreover, Asia Pacific region is likely to grow with the highest growth rate both in terms of value and volume during the forecast period.
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Some of the leading market players in the tea market are Kusmi Tea (France), Tata Global Beverages (India), Davids Tea (Canada), Unilever Plc. (U.K.), Tea Forte (United States), Starbucks (United States), Associated British Foods Plc. (Twinings) (U.K.), and Peet’s Coffee & Tea (United States) among others.
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