Tea Market Set to Reach USD 104 Billion by 2030, Driven by Rising Health Consciousness and Innovative Product Offerings

Tea Market Set to Reach USD 104 Billion by 2030, Driven by Rising Health Consciousness and Innovative Product Offerings

According to Next Move Strategy Consulting, the global Tea Market, is projected to grow at a compound annual growth rate (CAGR) of 6%, reaching USD 104 billion by 2030. This growth is fueled by the increasing demand for tea as a healthy beverage, expanding product innovations, and a rising preference for tea over other drinks such as coffee and sugary soft drinks.

Tea, derived from the Camellia Sinensis plant, is one of the world’s most popular beverages. Known for its numerous health benefits due to antioxidants, calcium, magnesium, and potassium, tea is associated with preventing cell damage, aiding in weight loss, and promoting heart health. Black tea remains the most consumed variety worldwide, followed by green tea, white tea, and oolong tea.

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Market Dynamics and Emerging Trends

The surge in demand for tea is largely driven by the growing interest in flavored teas and health-oriented products. In November 2021, Bigelow Tea launched a new product, Bigelow Blackberry Citrus Herbal Tea plus Zinc, which combines fruity flavors with immune-boosting properties. This aligns with the rising consumer preference for health-conscious beverages.

Tea’s affordability also plays a key role in its widespread popularity, particularly in developing nations like China, India, and Turkey, where it is an accessible option for lower-income groups. Additionally, with the growing disposable incomes of consumers in developed regions, there has been a surge in demand for premium and organic teas, such as green tea and hibiscus tea, known for their health benefits.

Tea lounges are also gaining popularity worldwide, offering a unique experience where customers can enjoy premium handpicked teas. Venues such as The Russian Tea Room in New York and Jiufen Teahouse in Taiwan are helping to stimulate the demand for tea globally.

Despite these positive growth drivers, challenges like fluctuations in raw material prices due to unpredictable weather conditions and competition from the rising coffee consumption trend may pose some barriers. However, innovative agricultural practices, such as organic and regenerative tea farming, are expected to offer new opportunities for growth.

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Market Segmentation

The global tea market is categorized based on type, packaging, category, distribution channel, and application. The key market segments include:

  • Type: Black tea, green tea, white tea, herbal tea, oolong tea, and others.
  • Packaging: Loose tea, plastic containers, tea bags, aluminum tins, and paper boards.
  • Category: Organic and conventional.
  • Distribution Channel: Convenience stores, supermarkets/hypermarkets, online stores, specialty stores, and others.
  • Application: Residential and commercial.

Geographical Insights

Asia-Pacific leads the global tea market and is expected to maintain its dominance throughout the forecast period. Countries like China and India, major tea producers, significantly contribute to global exports, with China alone exporting nearly 369 thousand metric tons of tea in 2021. The growing trend of health-consciousness among millennials in this region is also driving the demand for tea as a preferred beverage.

North America, particularly the United States and Canada, is expected to witness substantial market growth, driven by a growing expat population and the rising preference for organic tea. Tea innovation, such as Keurig cups and ready-to-drink (RTD) tea, is further propelling market expansion in the region.

Competitive Landscape

The tea market is highly competitive, with several key players adopting strategies like product innovations and global expansion. Prominent companies include:

  • Twining and Company Limited
  • Tetley
  • Lipton Teas
  • Bettys & Taylors of Harrogate Ltd
  • Tata Consumer Products Limited
  • Harney & Sons Fine Teas
  • Stash Tea
  • Yogi Tea
  • The Republic of Tea
  • The Hain Celestial Group, Inc.

For instance, Tata Global Beverages launched the Tata Tea Export portfolio to cater to South Asian emigrants in the UK and Europe. Similarly, The Republic of Tea introduced a new line of herbal teas to support cognitive health and radiant skin.

Conclusion

The global tea market is experiencing significant growth, driven by increasing health consciousness, innovative product offerings, and the widespread popularity of tea across various demographics. With continued product innovation, expanding markets, and evolving consumer preferences, the tea industry is poised for further growth in the coming years.

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Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analysed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enables them to move beyond time and have competitive edge in the industry.

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