Green Tea Market Overview:
The global green tea market is growing continually. The market growth is majorly driven by the rising popularity and increasing awareness of the health benefitting properties of green tea. Besides, the medicinal benefits of green tea, such as the antioxidant properties, oxidation of low-density lipoprotein and cholesterol, increases its consumption among the health-conscious populace. Also, the increasing consumption of green tea for weight management escalates the market growth to furthered height.
According to Market Research Future (MRFR), the global Green Tea Market is anticipated to create a valuation of USD 23.558 BN by 2032, growing at 7.50% CAGR during the assessment period (2024-2032). Green tea is garnering immense popularity and prominence among health-conscious consumers. Rising consumption of green tea multi-purpose applications in the food sector influences the growth of the market. Also, advances in cultivation techniques accelerate market growth, increasing production.
Additional factors increasing the size of the green tea market include the huge demand and the development of various distribution channels. Moreover, the endless variations in flavors brought by key industry players offer substantial growth opportunities. Furthermore, attractive packaging forms and health benefits that green tea provides bolster the growth of the market.
Key players carefully strategize their packaging solutions to enhance the consumer experience, while aligning with their branding. Simultaneously, the introduction of new products and retail across various regions substantiates the growth of the market. Further, the growing urbanization and the spurting rise in global economy, act as a key tailwind for the market growth.
Competitive Landscape:
Fiercely competitive, the green tea market appears diversified owing to the presence of several well-established players. These players are investing substantially to enhance product quality and global expansion.
Major Players:
leading the global Green Tea Market Companies are Tata Global Beverages Limited (India), Arizona Beverages USA (US), The Republic of Tea (US), East West Tea Company, LLC (US), Unilever PLC (UK), The Bigelow Tea Company (US), Starbucks Corporation (US), Numi, Inc. (US), Organic India (India), Associated British Foods plc (UK), Koninklijke DSM NV (the Netherlands), Mekor Corporation (US), Cape Natural Tea Products Pty Ltd (South Africa), Hankook Tea USA, Inc. (US), and Celestial Seasonings (US), among others.
Segments:
The region is segmented into four dynamics.
By Form: Powder, Tea Bags, Loose Leaf, and others.
By Category: Organic and Conventional.
By Distribution Channel : Store-Based (Supermarkets & Hypermarkets, Convenience Stores, others) and Non-Store-Based.
By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-World (RoW).
Regional Analysis:
The Asia Pacific region dominates the global green tea industry. The region is a hub for various kinds of teas, worldwide, witnessing the largest production of green tea. The largest market share attributes to the presence of a large number of tea producers and consumers in the region. Improving economic conditions are increasing investments and thus are boosting the market in the region.
Moreover, the presence of large tea producing countries, such as China, Sri Lanka, India, and Indonesia and agro-climatic zones and the favorable weather conditions, propel the market growth. Additionally, changing consumer preferences for healthy and natural products foster growth in the regional market. The APAC green tea market is expected to retain its dominance throughout the forecast period.
The green tea market in North America accounts for the second-largest market globally. The market growth is driven by the changing lifestyle and adoption of healthy consumption pattern. Due to the higher demand for healthy beverages, the import and export of green tea, especially in developed countries. Also, the increasing health-centric populaces in the region influence market growth. The North American green tea market is projected to create a substantial revenue pocket over the assessment period.
The Europe green tea market witnesses an increasing demand. Factors such as the demand for high-quality green tea and the developing economy in the region boost market growth. Moreover, consumer awareness regarding the benefits associated with green tea and antioxidants in green tea impact the growth of the market. Ukraine and Spain account for the fastest-growing markets for green tea in the region. The European green tea market is estimated to record phenomenal accruals throughout the forecast period.
Industry/Innovation/Related News:
June 24, 2020 ----- Minna, an organic and non-GMO ingredients brand, launched Cherry Cacao Green Tea Flavor. Sparkling tea brand Minna added its bright and colorful lineup. Additionally, with packaging certain to pop off the shelves, this fourth flavor stays true to the brand’s acclaimed design with gallery-worthy bright cherry red artwork on a pale pink backdrop, making the lightly brewed sparkling tea more readily available in the market.
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