Tea Industry Overview | Size, COVID-19 Pandemic Impact, Value Share, Key Players Strategy, Product Category, Sales and Production by Forecast to 2025
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Dec 15, 2020 (AB Digital via COMTEX) --
The popularity of green tea is estimated to ramp up Tea Industry development in the upcoming period. The food, beverages & nutrition industry reports are designed by Market Research Future, focusing on market prospects for evolution. A 4.47% CAGR is estimated to direct revenues to reach USD 22,669.8 Million by 2025.
The need to dissipate cell damage caused due to environmental pollution and stress is projected to augment the tea market in the course of the forecast period. The surging obesity levels are likely to encourage the use of green tea to induce healthy weight loss, thus bolstering the global tea market in the upcoming period.
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The players operating in Tea Industry are likely to seek revision of supply chains to promote further the development of the market in new segments and demographics. The digital elements of business functioning are estimated to emerge more prominently in the period ahead. The global market’s response to new efficiency levels in the forthcoming period is expected to unleash new and transformative changes. The augmentation of commercial interests in the upcoming period is estimated to create a more advantageous position for the market contenders in the forecast period. In the forecast period, the market is appraised to derive a great deal from the market signals while scrutinizing their consumer base to meet their needs better. The diverse regional markets will see steadfast development due to government backup’s influence in re-energizing the global market. The new growth ventures are foreseen to improve the company’s future goal achievement trajectory and are thus estimated to be essential to growth. The inclusion of social impact goals by the companies in the market is estimated to usher in a new development phase in the market in the upcoming period.
The renowned companies functioning in the Tea Industry are Unilever PLC (UK), McLeod Russel India Ltd. (India), DAVIDS Tea Inc. (Canada), Associated British Foods PLC (UK), Barry’s Tea (Ireland), Tata Global Beverages Limited (India), APEEJAY SURRENDRA Group (India), Bettys & Taylors Group Ltd. (UK), Ito En, Ltd. (Japan), and Tea FORTÉ Inc. (US).
The segments created in the Tea Industry to enable better scrutiny are formed on the basis of type, form, category, distribution channel, and region. The distribution channel segment of the tea market consists of store-based, which is subdivided into convenience stores, supermarkets & hypermarkets, and non-store-based. The type segment of the tea market consists of oolong tea, herbal tea, green tea, black tea, and others. The form segment of Tea Industry consists of tea bags, loose leaf, and others. The region segment of the tea market consists of Europe, Asia Pacific, North America, and other notable regional markets. The category segment of the tea market consists of conventional and organic.
Detailed Regional Analysis
The tea market’s regional review includes regions such as Europe, Asia Pacific, North America, and other notable regional markets. The Asia Pacific region’s tea market is anticipated to report the global market’s principal portion throughout the forecast period. The region reported a 39.28% stake of the global market in the year 2020. China is a key supplier to the evolution of the Asia Pacific tea market, being the principal maker and user of tea. The nations such as Vietnam, India, Japan, and Indonesia also support the tea market’s growth substantially in Asia Pacific regional market. The European regional conveyed a substantial segment of the tea market in 2020 with the UK being a chief buyer of tea. Though, the North American region is anticipated to be the speediest mounting regional market for the period of the forecast. The elevated commonness of obesity in the region is likely to fuel green and herbal requirements as they support weight loss.
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