Asia Pacific Tea Market - Growth, Trends and Forecast (2017 - 2022)
The Asia-Pacific tea market was valued at USD xx billion in 2013 and is expected to reach USD xx billion in 2020, with a CAGR of 2.1% during the forecast period, (2017 - 2022). India, Japan and China are the largest consumers of tea in the Asia-Pacific region.
Health concerned consumers are often drawn to tea, since it is naturally laden with antioxidants, catechins, and epigallocatechin gallate (EGCG), all of which are positively linked with health benefits and disease prevention. Asia-Pacific is the prime region for tea manufacturing and consumption. The preference for fruit & herbal tea and green tea has increased, as compared to standard tea over the years.
The vast tea industry is segmented on the basis of type, packaging, sales channel and geography. Furthermore tea is also segmented based on the production and processing into CTC, orthodox, herbal/flavored and leafy (consisting of black, green, oolong and decaf). The Asia-Pacific market is a major shareholder of CTC tea as it is rich in antioxidants and requires low manufacturing cost. The green tea, and herbal & flavored tea segments are estimated to have maximum growth during the forecast period, (2017 - 2022).
The packaging scenario also plays an important role in the market growth based on the convenience of use and product self-life. Loose tea, tea bags, instant tea and compressed tea involve different and varied packaging techniques. Though loose tea is currently the major market share holder in the Asia-Pacific region, tea bags will show maximum growth during the forecast period.
The sales channel and distribution of the product is yet another vital segment. Convenience stores, supermarkets and general merchandisers are the major sales channels. However, the main leaders are the supermarkets and hypermarkets, which are expected to maintain their growth during the forecast period as well.
Some key players in this market include Twining of London, Unilever, James Finlay, Van Rees and McLeod Russell, Wissotzky Tea, Akbar Brothers Ltd. and Tata Global Beverages Ltd. Unilever, Tata tea and Twining hold the major market shares with 12%, 4% and 3% globally. The innovation of new products and flavors, as well as mergers and acquisitions are the major competitive strategies followed by the key players in the tea market.
SPECIALITIES OF THIS REPORT
The report will be useful in gaining an exhaustive understanding of the regional market. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade.
The report will be an ideal source material for industry consultants, manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered.
The report contains wide range of information about the leading market players and the major strategies adopted by them.
WHAT THE REPORT OFFERS
Market definition along with identification of key drivers and restraints for the market.
Market analysis with region specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
Identification and analysis of the macro and micro factors that affect the industry on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.