Green Tea Market to Reach $29.3 Bn, Globally, by 2030 at 8.04% CAGR: Allied Market Research

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Jul 11, 2022, 09:20 ET

PORTLAND, Ore. , July 11, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Green Tea Market by Type (Flavoured, Unflavoured), by Form (Green Tea Bags, Instant Green Tea Mixes, Loose Green Tea Leaves), by Distribution Channel (Supermarket/Hypermarket, Convenience Stores/Specialty Stores, Online): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global green tea industry generated $14.8 billion in 2021, and is estimated to reach $29.3 billion by 2030, witnessing a CAGR of 8.04% from 2022 to 2030.

Drivers, Restraints, and Opportunities

The advantages of green tea to health including weight loss & maintenance, high nutritional value, detoxification, & others and increase in spending on high-quality products drive the growth of the global green tea market. However, lack of awareness in rural parts of developing countries restrains the market growth. On the other hand, new product developments to fulfill the demands related to high-nutritional content in beverages and the emergence of new flavors create new opportunities in the coming years.

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Covid-19 Scenario

Various challenges such as raw material unavailability, shortage of workforce, supply chain disruptions, and others impacted the production activities of green tea negatively. This, in turn, reduced the overall revenue generated in the market.
On the other hand, the demand for green tea increased considerably during the Covid-19 pandemic to boost the immune system and reduce hazardous impact of infection. However, due to closure of distribution channels such as supermarket/hypermarket, convenience stores/specialty stores, and others, there was a supply-demand gap.
The market is expected to recover post-pandemic as the supply-demand gap restores.

The flavored segment to continue its lead position throughout the forecast period

Based on type, the flavored segment held the largest market share in 2021, contributing to nearly three-fourths of the global green tea market, and is expected to continue its lead position throughout the forecast period. Moreover, this segment is estimated to witness the largest CAGR of 8.3% from 2022 to 2030. This is due to rise in popularity of green tea flavors such as mint green tea, jasmine green tea, tulsi green tea, Himalayan green tea, and others. The report also analyzes the unflavored segment.

The green tea bags segment to maintain its leadership status during the forecast period

Based on form, the green tea bags segment accounted for the highest market share in terms of revenue in 2021, accounting for nearly half of the global green tea market, and is projected to maintain its leadership status during the forecast period. Moreover, this segment is expected to register the fastest CAGR of 8.5% from 2022 to 2030. This is owing to the convenience offered by green tea bags due to ease in carriage and uniform quantity of green tea in each bag. The report also analyzes the segments including instant green tea mixes and loose green tea leaves.

Asia-Pacific to maintain its dominance in terms of revenue by 2030

Based on region, Asia-Pacific contributed to the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global green tea market, and is expected to maintain its dominance in terms of revenue by 2030. Moreover, this region is estimated to manifest the largest CAGR of 8.7% during the forecast period. This is attributed to increase in prevalence of health issues such as obesity and health benefits offered by regular consumption of green tea. The research also analyzes regions including North America, Europe, and LAMEA.

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Leading Market Players

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

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