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Report Overview
The global tea market reached a value of approximately USD 52.83 Billion in 2023. The market is projected to grow at a CAGR of 6.20% between 2024 and 2032, reaching a value of around USD 90.78 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- China's tea production in 2022, as reported by the Tea Board, amounted to 3090.00 M.kg, reflecting substantial growth.
- The Tea Board reported apparent global tea consumption at 6173 M.kgs in 2021, compared to 5949 M.kgs in 2020.
- As per industryreports, Argentina exported 71.00 M.kg of tea in 2022, compared to 64.20 M.kg in 2021.
Tea Market Analysis
The market is currently being driven by increasing demand for healthier beverages, RTD (Ready-to-drink) teas, growing demand in the foodservice segments and availability of the product in different flavours which satisfy every consumer’s taste. This report by Expert Market Research, entitled “Tea Market Report and Forecast 2024-2032”, provides a comprehensive analysis for anyone who plans to foray into the tea market.
Historical market trends for the market have been provided from 2018-2023 and forecasts have been presented till 2032. The major regional markets are China, India, Kenya, Sri Lanka, and Turkey. Currently, China represents the largest market followed by India and Kenya.
The value chain analysis of the product, encompassing all the activities such as procurement, manufacturing, sales and distribution, has also been covered in this report. Furthermore, the study assesses the industry based on Porter’s five forces model, which evaluates the level of competition in the industry by analysing factors such as the bargaining power of buyers and suppliers, threats from substitutes and new entrants. A thorough evaluation of the competitive landscape of the tea market has also been provided.
This report provides an exhaustive insight for setting up and running a tea manufacturing plant. Factors such as land requirement, construction requirement, raw material requirement, labour requirement, machinery requirement, manufacturing process, utility requirement, total capital investment, total operating costs, prices, income projections, expenditure projections, profit margins, net present value, return on investment, payback period, etc. have been comprehensively covered in this report.
Tea Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The tea market was valued at USD 52.83 Billion in 2023.
The tea market is projected to grow at a CAGR of 6.20% between 2024 and 2032.
The revenue generated from the market is expected to reach USD 90.78 Billion in 2032.
The major drivers aiding the growth of the market include rising disposable incomes, increasing population, increasing demand for healthier beverages, RTD (Ready-to-drink) teas, growing food and beverage industry, and rising demand from the developing regions.
The key trend guiding the growth of the tea market include the availability of tea in different flavours, which satisfies every consumer’s taste.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The market is categorised according to the type, which includes black, green, oolong, white, and others.
Plastic containers, loose tea, paper boards, aluminium tins, and tea bags, among others, are the significant packaging types for the product in the market.
Based on the distribution channel, the market is divided into supermarkets and hypermarkets, convenience stores, speciality stores, online, and others.
Based on the application, the market is divided into commercial and residential.
Dilmah Ceylon Tea Company PLC., Barry’s Tea, Tata Consumer Products Limited, The Hain Celestial Group, Inc, Unilever Plc, Associated British Foods Plc, ITO EN, LTD., Taiwan Tea Corporation, SAC Leão, and Tenfu's TEA, among others.
The market is categorised according to the source, which includes organic and conventional.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124