Chinese Tea Industry Study 2017
Tea is the most widespread beverage across the world, adored by all age groups. Tea contains antioxidants which prevents diseases and promotes good health. The global tea market is divided into four major geographies - Asia Pacific, Europe, North America and Rest of the World. As of 2016, globally, per capita consumption of tea is highest in Turkey, followed by Ireland, the United Kingdom, Russia and Morocco.
Asia Pacific region is the highest tea producer and is forecasted to reach a market value of approximately USD 29 billion by 2020. Tea is an integral part of the culture of China and tea drinking has evolved over the years. Tea in China is of three types, black, green and red. These three types have various further varieties. The global tea industry is expected to grow at a CAGR of 4.60% during the period of 2016-2020.
China’s tea market has decelerated from a growth rate of 18% in 2010 to 5.8% in 2015-16. In the year 2015-2016, China tea production increased approximately by 3% in 2015-16 year-on-year. The growth was slower than expected due to bad weather and cold temperature at the start of the year with significant damage to tea crops. Since the Chinese Government has abandoned its system of quotas and licensing restrictions on tea exports in 2006, the number of tea exporters has been rising apart from a few state owned companies.
Our analysts are of the opinion that the outlook for the global and China’s tea industry is bright. The tea market is being driven by rising number of health-conscious consumers. China is the leader in both the production and consumption of black tea, which is the leading variety of tea consumed globally.
Tea manufacturer’s strategy in China is expected to include innovation in products. Due to the increase in Chinese travelling abroad and wider exposure to media, consumer affinity for flavored blends is increasing. Innovations in delivery formats, new flavors and packaging is expected to yield positive results for manufacturers.
Why should the report be purchased?
The report ‘Chinese Tea Industry Study 2017’ highlights key dynamics of China’s tea market. The growing opportunity in the sector has been investigated along with the market drivers. The initiatives and performance of key players including Tata Global Beverages, Unilever, Associated British Foods and Da Yi Tea Group has been examined. The current market scenario has also been studied. The report contains latest opinions of industry leaders.
Research methodology and delivery time
Smart Research Insights has conducted in depth secondary research to arrive at key insights. Data collected from key public industry sources and publications has been scanned and analyzed impartially to present a clear picture of the industry. All recent developments which impact the sector dynamics have been captured and used to support the research hypothesis.
The report is available as single-site single-user license and the delivery time for the electronic version of the report is 2 business days. The dispatch time for hard copies is 3 business days, as each hard copy is custom printed for the client.
About Smart Research Insights (SRI)
SRI is a research organization specializing in industry research reports and custom research. Our team of dedicated researchers with rich experience across industry segments focuses on delivering high quality analysis. Undertaking in-depth secondary research we arrive at key insights, which are supported by data that has been analyzed impartially to present a clear picture of the industry. All recent developments and industry opinions which impact the sector dynamics are captured and used to support the research hypothesis.