Asia-Pacific tea bag market was valued at around $2.5 billion in 2018, which is further estimated to reach around $4 billion in 2025 at a CAGR of 6.6% 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.
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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. 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.
There are various health benefits of tea such as; tea contains antioxidants and tea can reduce the risk of heart attack and stroke. Additionally, tea lower cholesterol levels by 32%. Further, green tea contains substances called polyphenols that contribute to its activity against cancer. The Asia-Pacific tea bag market is segmented on the basis of type into green tea, black tea, oolong tea, and herbal tea.
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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, tea bags are one of the most popular formats 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. There are several companies offering tea bags; some major players of this market include Tata Global Beverages, R.Twining and Co., Ltd., The Republic of Tea, Inc., Nestle, Starbucks Corp., Unilever Group, and Associated British Foods PLC.
Asia-Pacific Tea Bag Market- Segmentation
By Type
- Green Tea
- Black Tea
- Oolong Tea
- Herbal Tea
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