Asia-Pacific green tea market was valued at around $5.3 billion in 2018, which is further estimated to reach around $8.3 billion in 2025 at a CAGR of 6.7% during the forecast period. Asia-Pacific is the largest producer and consumer of tea all across the globe. Due to this, the region has the largest market share during the forecast period. Major countries contributing to the market include China, India, Indonesia, Sri Lanka, and Vietnam. These countries are major tea producers. The tea industry in China is a fragmented market as the country has around 70,000 tea companies. However, there is no international renowned Chinese brand in the tea market, which is a major concern for the Chinese government. It is due to that lack of brand power reduces the margin and profitability in the international market.
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Some of the famous brands in the country include Twining, Celestial Seasonings, Tazo, Harney and Sons, Dilmah, Lipton, Bigelow, Yorkshire, and Tetley. Most of them are international brands and none of them are Chinese based companies. Some of the domestic tea brands of the country include Mao Feng, Wuyi oolong, Dragonwell and so on. China and India are also major consumers of tea hence consume 70-80% of the total tea produced domestically, whereas countries such as Indonesia, Sri Lanka, and Vietnam are the major exporter of tea. These countries are emerging economies and the consumption of loose tea powder is significantly high as compared to tea bags and ready to drink tea. The market is fragmented as thousands of companies work in tea processing and exports however some global players such as Tata Group, Unilever Ltd., and Nestlé S.A. are significantly working in the region.
Tea and tea-based drinks are considered to be the most convenient hot drinks. Due to its easy availability and accessibility in all food retail formats, RTD tea has been the most popular format of flavored tea and tea-based beverages in recent years. In recent years, the increasing demand for on-the-go health drinks has boosted the market prospects of the Asia-Pacific market for tea and tea-based drinks.
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Asia-Pacific Green Tea Market Segmentation
By Format
· Ready-to-Drink
· Loose Tea Powder
· Tea Bags
By Nature
· Organic
· Conventional
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
