Global Green Tea Market Expected to Grow Substantially Owing to Increased Demand for Healthy Beverages Among Consumers Across the World [200-Pages] | Calculations by Research Dive

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Research Dive

May 16, 2023, 06:59 ET

The global green tea market is expected to grow primarily due to growing demand for healthy beverages. Flavoured sub-segment is expected to flourish immensely. The market in the Asia-Pacific region is predicted to grow at a high CAGR by 2030.

NEW YORK, May 16, 2023 /PRNewswire/ -- Global Green Tea Market Forecast Analysis:

As per the report published by Research Dive, the global green tea market is expected to register a revenue of $29,267.30 million by 2030 at a CAGR of 8.04% during the forecast period 2021-2030.

Segments of the Green Tea Market

The report has divided the green tea market into the following segments:

  • Type: flavoured and unflavoured
    • Flavored– Most dominant in 2021
      Growing demand of people for flavored beverages to enhance their taste is expected to push the growth of this sub-segment further.
  • Form: green tea bags, loose green tea leaves, and instant green tea mixes
    • Green Tea Bags – Highest market share by 2030
      Growing use of green tea bags by young generation to treat their skin issues like rashes and irritation is expected to augment the growth rate of the market in the 2021-2030 timeframe.
  • Distribution Channel: supermarket/hypermarket, convenience stores/specialty stores, and online
    • Supermarket/Hypermarket – Most profitable in 2021
      Growing number of shopping stores across the world is expected to propel the sub-segment forward.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • Asia-Pacific – Significant market share in 2021
      Presence of major green tea producing countries like India, China, Pakistan, and Sri Lanka is predicted to propel the market in the forecast period.

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Dynamics of the Global Green Tea Market

The growing demand for healthy beverages among consumers due to growing lifestyle related ailments like obesity and high blood pressure is expected to make the green tea market a highly profitable one in the forecast period. Additionally, the diverse range of health benefits offered by green tea including weight loss, improved digestive power of body, enhanced immunity, etc., is predicted to propel the market forward. However, according to market analysts, high cost of green tea might become a restraint in the growth of the market.

Diversification of product portfolio is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, launch of different green tea flavours by leading companies is expected to propel the green tea market forward in the coming period.

COVID-19 Impact on the Global Green Tea Market

The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The green tea market, however, was positively impacted due to the pandemic. The pandemic saw an increase in awareness among people to consume healthy beverages to boost the immunity. Apart from increasing immunity, green tea also helps in providing other health benefits which led to an increase in its demand. This growth in demand helped the market grow in the pandemic period.

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Key Players of the Global Green Tea Market

The major players of the market include

  • Unilever Plc
  • The Begilow Tea Company
  • The Republic of Tea Inc
  • Tata Consumer Products ltd
  • Tazo Tea Company
  • East West Tea Company LLC
  • Typhoo Tea
  • Numi Organic Tea
  • Northern Tea Merchants Ltd.
  • Associated British Foods Plc

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

For instance, in February 2020, Layn, a global ingredients supplier, announced the acquisition of Wagott, China's leading exporter of green tea extract. This acquisition is expected to increase the market share of Layn in Asia region and expand its footprint in the market substantially.

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What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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SOURCE Research Dive

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