Global Oolong Tea Market 2019-2023
About this market
Organized retailing has grown significantly with eth increasing establishing of hypermarkets, specialty stores and supermarkets globally. Convenience products such as ready- to- drink (RTD) oolong tea, oolong tea blends, and mixes are predominantly sold by large and organized retailers. They depend heavily or large organized retailers such as supermarkets and hypermarkets given their wide presence and penetration. Thus, the global market is receiving a boost from the growing accessibility and availability of oolong tea through organized retailing. Technavio’s analysts have predicted that the oolong tea market will register a CAGR of over 3% by 2023.
Health benefits of oolong tea
The regular consumption of oolong tea is also associated with the mitigation of skin conditions such as eczema, strengthen of immunity, promotion of hair health, and a natural defense from the sun ultraviolent rays.
Increasing popularity of substitutes
The increasing number of substitutes product launches and the growth availability and popularity of conventional and specialty teas, coffee and other hot and cold beverages are expected to challenge market growth during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the oolong tea market during the 2019-2023, view our report.
The global oolong tea market is fairly fragmented, and as the market is in a growth phase, the competition among companies is intense. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Technavio Announces the Publication of its Research Report – Global Oolong Tea Market 2019-2023
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the growing demand for ready- to- drink tea.”
According to the report, one of the major drivers for this market is the vendors are continuously involved in launching new and innovative products to attract more customers and cater to evolving demand as also to drive store sales.
Further, the report states that one of the major factors hindering the growth of this market is the intake of oolong tea is good for the health in various ways. However, excessive consumption can lead to side effects.
Associated British Foods
Tata Global Beverages
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