Increased awareness among people across the globe regarding the weight loss and the health benefits associated with tea are predicted to push the growth rate of the global tea market.
PORTLAND, Ore., Nov. 5, 2023 /PRNewswire/ — Recently, Allied Market Research published a report “Tea Market by Type (Green Tea, Black Tea, Oolong Tea, Fruit/Herbal Tea, Others), by Packaging (Plastic Containers, Loose Tea, Paperboards, Aluminum Tins, Tea Bags), by Application (Residential, Commercial), by Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031“. As per the report, the global tea market is anticipated to raise a revenue of $93.2 billion by 2031. The market was valued at $49 billion in 2021 and is estimated to grow at a CAGR of 6.7% during the 2022-2031 period. The report provides a holistic study of the latest market trends, regional scenarios, and competitive landscape of the market.
Request Sample Report: https://www.alliedmarketresearch.com/request-sample/2296
Report coverage & details:
Market Size in 2022
Market Size in 2032
No. of Pages in Report
Type, PACKAGING, Application, Distribution Channel, and Region.
· processing and fermentation
· processing and fermentation
· antioxidants known as flavonoids
· high popularity and low price
· Consumers have become health conscious and are attracted toward healthy products
· taste and flavor
· anticipated to unfold new business opportunities
Growth Drivers, Market Restraints, and Investment Opportunities
Widespread awareness among people around the world regarding the importance of weight loss and the health benefits associated with tea are predicted to drive the global tea market. However, fluctuating prices of raw materials and growing coffee consumption around the world will create hurdles in the market’s rise. Nonetheless, the decline in demand for carbonated beverages and the launch of new tea flavors will create enormous growth opportunities in the market in the coming period.
Buy This Report (555 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/45TzVYo
The paperboards segment to be highly dominant in the analysis timeframe
Based on packaging, the paperboards segment accounted for the largest market revenue in 2021, with around two-fifth of the total market. The growth in demand for environmentally friendly packaging options is anticipated to push the segment ahead. On the other hand, the plastic containers segment is predicted to have the highest CAGR of 7.2% during the forecast period. The ability of plastic containers to store fresh produce for a long time is predicted to help the segment grow during the forecast timeframe.
The commercial segment is anticipated to flourish immensely by 2031
Based on application, the commercial segment generated the highest revenue in 2021, with around one-fifth of the total revenue. The commercial segment is expected to witness growth owing to increasing demand for quick service restaurants. On the other hand, the residential segment is expected to have the fastest CAGR of 7.0% during the 2022-2031 period. The rising consumption of beverages at home will boost the segment’s growth in the next few years.
The supermarkets/hypermarkets segment to offer lucrative growth opportunities
Based on distribution channel, the supermarkets/hypermarkets segment garnered the maximum revenue in 2021, with around one-third of the total share of the revenue. Preference for supermarkets and hypermarkets for buying tea and associated products will aid in augmenting the rise of this segment. However, the online stores segment is estimated to demonstrate the highest CAGR of 8.1% during the analysis timeframe. The increase in use of e-commerce websites and online platforms due to the convenience offered by these websites is estimated to push the growth of the segment.
Asia-Pacific accounted for the highest share in 2021
Based on region, the Asia-Pacific tea market valued for the highest market share in 2021 with around three-fourths of the total market. Prevalent tea culture in countries including China, India, Japan, and Sri Lanka is predicted to help the market’s rise in this region. However, the market in the North America region is predicted to be the fastest growing with a CAGR of 8.4% during the analysis timeframe. Shifting preference of consumers towards tea is expected to provide tremendous growth opportunities for the market in this region.
Enquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/2296
Leading Players of the Market
· The Republic of Tea, Inc.
· Barrys Tea
· Unilever PLC
· Mcleod Russel India Limited
· ITO EN, LTD.
· Nestle S.A.
· R.C. Bigelow, Inc.
· HAIN CELESTIAL GROUP, INC.
· Associated British Foods plc
· Tata Consumer Products Limited
The report also contains a detailed study of the major players in the global tea market and the different business expansion strategies adopted by them, including mergers and acquisitions.
Trending Reports in Food and Beverages Industry
Instant Tea Powder Market: Global Opportunity Analysis and Industry Forecast 2021–2030
Ready-to-drink (RTD) Tea Market: Global Opportunity Analysis and Industry Forecast 2021–2030
Bubble Tea Market: Global Opportunity Analysis and Industry Forecast 2020–2031
Matcha tea Market: Global Opportunity Analysis and Industry Forecast 2020–2030
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow Us on Blog: https://www.dailyreportsworld.com/
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/tea-market-to-gather-93-2-billion-by-2031-at-a-cagr-of-6-7-report-by-allied-market-research-301977896.html
The content is by PR Newswire. Headlines of Today Media is not responsible for the content provided or any links related to this content. Headlines of Today Media is not responsible for the correctness, topicality or the quality of the content.