Los Angeles, November 1, 2019 – Tea is one of the most popular beverages consumed globally as it offers numerous health benefits such as lower cholesterol, prevention of cancer, increased metabolism, stronger immunity, and more due to polyphenols that functions as amino acids, trace minerals, vitamins, and antioxidants. Additionally, presence of mild caffeine in tea helps in preventing fatigue. Therefore, its consumption is highly yearned and the demand for tea market is expected to accelerate. QY Research has recently added a report titled, “Global (United States, European Union and China) Tea Market Insight, Forecast to 2025”, predicting the growth opportunities in the global (United States, European Union and China) tea market.
The global (United States, European Union and China) tea market was valued at US$ 83856 mn in 2018 and is expected to reach US$ 129261 mn by the end of 2025, at a CAGR of 6.37% during the forecast period of 2019-2025. In China the market was valued at US$ 28931 mn and is expected to rise to US$ 46522 mn by the end of 2025, at a CAGR of 6.41% during the forecast period.
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Increased Health Awareness to Drive the Global Tea Market During the Forecast Period
The global (United States, European Union, and China) tea market is driven by growing health awareness related to consumption of tea. The awareness about harmful effects of carbonated drinks is playing a critical role in improving tea consumption over other beverages. Adoption of healthy food habits among the younger generations and conscious consumerism are playing a pivotal role in the market growth. Manufacturers are coming up with new varieties and flavours of tea for consumers, which is creating lucrative opportunities for the market. Major producers and exporters of tea along with skilled workforce across the globe makes it easily accessible to many consumers. Obesity and cardiovascular diseases are increasing, which is also paving way for sales of tea during the forecast period.
The growing number of convenience stores, discount stores, hypermarkets, and supermarkets will drive the market. The rise in advertising and marketing of the product along with expansion of product portfolio is expected to offer promising scope for the players in the market. Apart from that, green tea contains catechin that hinders incursion, motility, and growth of cancer cells and also promotes the death of malignant cells. These favourable drivers will boost the growth of the market.
However, there are few reasons that can restrain the global (United States, European Union and China) tea market during the forecast period such as increased cost of raw materials owing to unpredictable weather, increased trend in consumption of coffee and rise in price of agricultural input.
Green and Herbal Tea to Lead the Global (United States, European Union, and China) Tea Market
The global (United States, European Union and China) tea market is segmented into product type and application. The product type segment is divided into green tea, fruit tea, herbal tea, black tea, oolong tea, dark tea, and others. The application segment of the market is divided into specialty stores, convenience stores, supermarkets, online stores, retailer, food service, and others. In product type, the herbal and green tea is expected to lead the market owing to the rising awareness about benefits related to consuming them.
China Remains to Lead Global Market with Maximum Production
China is the leading tea producing region among all other regions in the world. The country has produced approximately 2.5 mn metric tons in 2017. The growth in this region is due to hospitable tropical or subtropical climate of this region for Camellia sinensis, a plant used to produce tea. The introduction of premium tea products in United States is expected to drive the market. European tea drinkers prefer luxurious flavors of tea in customized offerings, thus contributing to the growth of the market.
The key players operating in the global (United States, European Union and China) tea market are Tetley (Tata Global Beverages), Lipton (Unilever), Taetea Group, Twinings (ABF), Tazo (UNILEVER), Tieguanyin Group, Yorkshire Tea, The Republic of Tea, Chinatea, Bamatea, and Dilmah.
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