The Global Tea Market and the Impact of COVID-19 on It in the Medium Term
The global tea market was equal to 113.46 billion USD (calculated in retail prices) in 2015. Until 2025, the tea market in the world is forecast to reach 235.75 billion USD (in retail prices), thus increasing at a CAGR of 6.80% per annum for the period 2020-2025. This is a decrease, compared to the growth of about 8.70% per year, registered in 2015-2019.
The average consumption per capita in value terms reached 20.71 USD per capita (in retail prices) in 2015. In the next five years, it grew at a CAGR of 4.75% per annum. In the medium term (by 2025), the indicator is forecast to slow down its growth and increase at a CAGR of 4.08% per annum.
The tea market has evolved dramatically in the past few years in line with consumers’ changing behavior. Today, tea drinkers are more interested in high-quality products with a great story and drinks that give them specific health benefits, which has driven demand for healthy green, functional botanical tea and herbal blends. In addition, the perception of tea has also changed, as it is viewed by most younger consumers as a sensual and wellness drink.
Premiumization is another positive development on the market, as customers are showing strong preferences for functional botanical blends and single estate artisanal teas. More and more people are interested in innovative flavor combinations, as well as in authenticity and the story behind certain brand. When it comes to different types, a recent trend suggests that natural, earthy alternative flavors such as ginger, matcha, turmeric and cumin are in higher demand. Cheese tea is another food service phenomenon, which has been especially popular in Asian countries such as Malaysia, Taiwan, and China.
Another interesting trend on the tea market is the emergence of tea pairing menus. Since customers are increasingly opting for unique and experience led products, different restaurants have been trying to enhance culinary experience by introducing a several course tea pairing menu. In addition, the tea market has been expanding outside the category of hot beverages with the development of new ready-to-go drinks and iced tea variants. Kombucha, for example, has shown an impressive growth over the past few years from a niche product to a well-established product in mainstream supermarkets.
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This report presents a strategic analysis of the global tea market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it. It provides a comprehensive overview of the market volume and value, dynamics, segmentation, characteristics, main players, prices, international trade, trends and insights, growth and demand drivers, challenges, etc. This is the most detailed (COVID-19 updated) and comprehensive report about the global tea market, covering all global regions and 131 single countries. The report presents information on each indicator for each of the 131 countries covered, offering unmatched value, accuracy and expert insights.
The purpose of the report is to describe the state of the global tea market and to present real and expert-verified information about the volumes, values, dynamics, segmentation and characteristics of consumption, prices, imports, and exports. The report also presents a forecast for the market development in the short and medium term and the impact COVID-19 has and will have on it. In addition, the report presents an elaborate analysis of the main market participants, industry trends and insights, growth and demand drivers and challenges and all other factors, influencing the market development.
Questions This Report Answers
The report on the global tea market covers:
• Market volume, value and dynamics for the last five years;
• Market segmentation (by region and each covered country; by product groups, etc.) for the last five years;
• Analysis of the factors, influencing the market development (market trends and insights, drivers and challenges) and the impact COVID-19 has and will have on the market in both the short and the medium term;
• Value chain analysis and structure of price formation;
• Analysis of retail price levels and their dynamics for the last five years (broken down by region and each covered country);
• Analysis of the major international trade flows;
• Volume, value, dynamics, segmentation (by region and each covered country) and analysis of imports for the last five years;
• Volume, value, dynamics, segmentation (by region and each covered country) and analysis of exports for the last five years;
• Volume and dynamics of the average import and export prices for the last five years (broken down by region and each covered country);
• Volume, value, dynamics, segmentation and analysis of per capita consumption for the last five years (broken down by region and each covered country);
• Forecast for market development in the medium term (volume, value and segmentation by region and each covered country);
• Characteristics of the main players on the market;
• Analysis of the competitive landscape;
• Five Forces analysis;
• Analysis and forecast for the global economy and demographics.
How Can You Benefit from This Report?
With the help of this report you can:
• Discover reliable and expert-verified market data, with which you can confidently make smarter business decisions and drive your business forward;
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• Track and identify key market trends and insights and key drivers behind recent market changes and see the impact COVID-19 has and will have on the market in both the short and the medium term;
• Strategically assess growth potential, opportunities, demand drivers and challenges on the market;
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• Discover how each of the markets performed in the past (in the last 3 years) and how it will perform in the future (in the next 6 years);
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• Evaluate the key macroeconomic indicators to get insight into the general trends within the economy and demographics.
What Kind of Data Is Presented in This Report?
This report presents data, which is:
• Reliable (the report is prepared using a proven methodology, including both primary and secondary research);
• Expert-verified (the data is cross-checked and confirmed by more than 30 global and local experts, representatives of the main market players);
• Real (allowing you to confidently make smarter business and strategic decisions);
• Comprehensive (breaks down the overall global data into separate data for 131 countries);
• Comparable (the report covers information, which has been calculated in the same units for each indicator, making it comparable among all global countries and regions but still taking into account the local differences of the markets);
• Easy to read, perceive and understand (you do not have to be a market expert to understand what really is happening on the market and how it works);
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What Kind of Decisions You Can Make Based on the Data in This Report?
This report presents reliable and real market data, providing valuable support to make important strategic decisions regarding:
• Strategic planning;
• Marketing and sales;
• Market and industry evaluation;
• Evaluation of market opportunities, risks and challenges;
• Regional and country evaluation and opportunity analysis;
• Market entry;
• Market growth;
• Pricing and promotion;
• New product development;
• Sourcing and supply chain management;
• Company evaluation;
• Mergers and acquisitions.
Who Is This Report for?
This report is for people who already are actively working on this market, representatives of producers, distributors, importers, exporters, wholesalers, retailers, suppliers:
• Industry C Level executives;
• Industry strategists;
• Marketing professionals;
• Business development professionals;
• Product developers;
• Product marketers and strategists;
• Product managers;
• Project managers;
This report is also for people, not directly and actively involved in the market, representatives of investors, consultants, advisors and financial institutions:
• Management consultants;
• Investment managers;
• Financial professionals;
• Bank managers;
• M&A managers.
This research report has been prepared using the proven WMStrategy’s methodology, including a blend of qualitative and quantitative data. The information comes from official sources and insights from market experts (representatives of the main market participants), gathered by semi-structured interviews. For this particular report, more than 30 market expert interviews have been conducted with experts from the leading market companies (producers, distributors, retailers, suppliers, etc.). The full list of interviewed experts and a detailed methodology are available upon request.
The report on the global tea market breaks down the world into the following regions and countries and covers every single one of them:
• Africa (Algeria, Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Chad, Republic of the Congo, Egypt, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Ivory Coast, Kenya, Lesotho, Madagascar, Malawi, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Senegal, Seychelles, Sierra Leone, South Africa, Sudan, Tanzania, Togo, Tunisia, Uganda, Zambia, Zimbabwe);
• Asia and Pacific (Australia, Bangladesh, Bhutan, Brunei Darussalam, Cambodia, Fiji, India, Indonesia, Laos, Malaysia, Mongolia, Myanmar, Nepal, New Zealand, Pakistan, Papua New Guinea, Philippines, Singapore, Sri Lanka, Thailand, Timor-Leste, Vietnam)
• The CIS countries (Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russian Federation, Tajikistan, Turkmenistan, Ukraine, Uzbekistan);
• Europe (Albania, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, The Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Montenegro, The Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, The United Kingdom);
• The Middle East (Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, The United Arab Emirates);
• North America (Canada, Mexico, The United States of America);
• North East Asia (China, Hong Kong, Japan, South Korea);
• South and Central America (Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Guyana, Haiti, Honduras, Jamaica, Nicaragua, Panama, Paraguay, Peru, Suriname, Uruguay).
Besides the fact that this report provides data on each indicator for each and every covered country, the report also breaks down the world into more regions than any other report. For example, North East Asia has been presented separately from Asia and Pacific due to the economic importance of China, Japan and South Korea and their cultural differences from the other countries in Asia and Pacific.
This report covers the following product groups:
• Tea (including black tea, green tea, tea bags and loose leaf tea; excluding herbal tea, ice tea, instant tea, ready-to-drink tea (RTD tea).
This is the most valuable, detailed (COVID-19 updated) and comprehensive report about the global tea market currently available, covering all global regions and 131 single countries! We also offer similar reports, covering every global country and region separately and offer special terms for bundle purchases. So, if you are interested in the global tea market, this research report will provide you with reliable, expert-verified and real market data you can safely and confidently base your decisions on. In a quick and hassle-free way, it will provide you with a strategic analysis of the market, its recent and future development. In addition, this solution will save you time and money while presenting you all the necessary information, empowering you to make informed commercial decisions and move your business forward!
This report is the most in-depth publicly available business analysis that exists on this particular market. And it is all here in one place, just a few clicks away! The report will be dispatched in up to 3 working days after order confirmation.!
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