Green Tea Market Scenario
Green Tea Market is made from camellia sinensis leaves that have undergone minimal oxidation during processes. The various health benefits of green tea are increasing the demand for it among consumers. One of the significant reasons for the growth of the green tea market is the medicinal benefits of green tea. The antioxidant property of green tea aids blocking the oxidation of low-density lipoprotein and cholesterol. Thus, the increasing prevalence of cardiovascular diseases and obesity cases are anticipated to increase the consumption of green tea during the forecast period. The global Green Tea Industry is expected to garner a revenue of USD 9 billion by 2024, with a CAGR of 5.8% during the forecast period, 2019–2024.
The Global Green Tea Market is witnessing an impressive growth over the last few years. This is attributed by the rising health conscious people both in developed and developing economies. Also, increasing disposable income of the consumer is anticipated to be the significant reason of the growth of green tea during the forecast period.
Arizona Beverages USA (US), Tata Global Beverages Limited (India), The Republic of Tea (US), Unilever PLC (UK), East West Tea Company, LLC (US), The Bigelow Tea Company (US), Numi, Inc. (US), Starbucks Corporation (US), Organic India (India), Associated British Foods plc (UK), Mekor Corporation (US), Koninklijke DSM N.V. (the Netherlands), Cape Natural Tea Products Pty Ltd (South Africa), Celestial Seasonings (US), and Hankook Tea USA, Inc. (US) are some of the key players in the global green tea market.
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The Global Green Tea Market has been segmented based on form, category, distribution channel, and region.
By form, the global Green Tea Market has been classified as powder, tea bags, loose-leaf, and others. The tea bag segment held a significant market share in the global green tea market, and the same segment is expected to be the fastest-growing segment.
Based on category, the global Green Tea Market has been bifurcated into organic and conventional. The conventional segment holds a larger market share in the global green tea market. However, the organic segment is expected to register the higher CAGR during the review period.
Regional Market Summary
Asia-Pacific accounted for the largest market share in 2018. The region’s dominance and growth can be attributed to the increasing consumption of healthy food and beverages among health-conscious people. North America is expected to be the fastest-growing region in the green tea market. The rise in consumer awareness regarding the benefits associated with green tea is majorly driving the growth of green tea market in this region. Lower acidity and more antioxidants in green tea have a positive effect on health, which, in turn, is expected to drive the market growth.
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