Global green tea market is expected to grow at a CAGR of 6.3% during the forecast period (2024-2031). The market is anticipated to grow due to the increasing preference for green tea among the young population globally. The preference is backed by its health benefits including weight management, improved digestion, and stress relief. It is also found to fight against cancer cells and possesses anti-inflammatory properties. The other health benefits include the reduction of LDL cholesterol and relief from head and body aches. Additionally, the rising preference for functional beverages among millennials is driving market growth, especially in major tea countries such as China and India and has emerged as the fastest-growing segment. Further, the general rise in tea consumption around the globe is contributing considerably to the industry's growth.
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The market is segmented by form analysis (into tea bags, loose leaves, loose powder, ready-to-drink, capsules & tablets), by flavor analysis (into flavored and unflavored), and by regions (into North America, Europe, Asia-Pacific, and Rest of the World).
Key Highlights of the Global Green Tea Market
• According, to the Food and Agriculture Organization, the global output of green tea is anticipated to increase at the fat rate of 7.5% annually, to reach 3.6 million tons in 2027.
• The global green tea market is anticipated to be driven by China, with the doubling of green tea production to 3.3 million tons in 2027, as against 1.5 million tons in 2015-2017.
• The green tea market has also reported a huge potential in the US. This is attributed to the high consumption of tea, with tea forming the most common beverage after water in almost 80.0% of US households.
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• In 2021, the US witnessed almost 85.0 billion servings of tea. Of this, 15.0% was green tea. Also, the region represented an increased year-on-year growth of green imports by 3.0% in comparison to 2020.
• The US has been the third largest importer of tea after Russia and Pakistan. More than four in five consumers drink tea, with Millennials demonstrating the highest consumption ratio, with more than 87.0% of millennials consuming tea.
• The global green tea industry can be potentially restrained by the high green tea prices the lack of awareness and climate change. However, the market players are making considerable efforts to address the issue through product portfolio expansion and running promotional campaigns and other marketing activities.
• The industry also faces the challenge of climate change. According to the FAO Intergovernmental Group (IGG) report, tea production is highly sensitive to the increasing climate change. Tea is produced on a limited agricultural stretch, which can also be impacted by climate change. Changes in temperature and rainfall patterns, with more floods and droughts, are already affecting yields, tea product quality, and prices, adversely affecting the market.
The leading tea-producing countries include Argentina, China, India, Indonesia, Japan, Kenya, Malawi, Sri Lanka, Tanzania, Taiwan and Vietnam. The major players in the global green tea market include Tetley GB Ltd., Nestle S.A., Tata DSM Nutritional Products, Associated British Foods LLC, Unilever Group, Oregon Chai Inc., Northern Tea Merchants Ltd., AMORE Pacific Corp., and Numi Organic Tea.
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