Green Tea Market: Vendor Landscape, Strategies, and Forecast 2015-2019
About Green Tea
Green tea is made using the leaves of the plant Camellia sinensis. The leaves undergo less oxidation during processing. It is a rapidly growing market because of increasing awareness about its medical advantages. Extracts of green tea are used in beverages, dietary supplements, dental care items, cosmetics, and medicines.
Technavio's analysts forecast the global green tea market to grow at a CAGR of 7.65% in terms of volume and 8.05% in terms of value during the forecast period 2015-2019.
Covered in this Report
Green tea is available in the market in various forms, such as tea bags, loose leaves, instant mixes, RTD green tea, GTE in capsule form, and green tea tablets. It is also available in various flavors across the globe.
Technavio’s report, Global Green Tea Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, APAC, and Europe; it also covers the global green tea market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.Key Regions
Technavio Announces the Publication of its Research Report – Global Green Tea Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Green Tea Market: Associated British Foods, Tata Global Beverage, Unilever Group, Ito En, and AmorePacific Corp.
Other Prominent Vendors in the market are: Arizona Beverage Company, Cape Natural Tea Products, Celestial Seasonings, DSM Nutritional Products, Finlays Beverages Ltd., Frontier Natural Products Co-Op., Hankook Tea, Honest Tea, Kirin Beverage Corp., Metropolitan Tea Company, Northern Tea Merchants Ltd., Nestle, Numi Organic Tea, Oishi Group Plc, Pukka Herbs Ltd., Qi Teas, The Republic Of Tea, The Stash Tea Company, Uncle Lee’s Tea Inc., and Yogi Tea.
Commenting on the report, an analyst from Technavio’s team said: “Premiumization is a major trend observed in this market. Premiumization includes an improvement in quality during the production, importation, and preparation, and consequent increase in cost. Rising disposable incomes, along with an expanding middle class, allow scope for green tea manufacturers to target consumers with more premium products.”
According to the report, one driver that aids in the growth of this market is the increase in demand from women consumers. Working women are leading busy lives and feel the need to be the correct weight and to stay active. Young women who are conscious of their health and well-being are moving toward healthier food and refreshments, and green tea readily serves this purpose.
Further, the report states that the high price of green tea compared to black tea is a major challenge faced by this market. The average price of green tea is about 45-55% more than that of black tea so the less well-off sector of the population as well as people in rural areas constitute much of the untapped market.