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The global green tea market size is anticipated to witness significant rise during the forecast period, owing to the health benefits offered by the product. Green tea is rich in antioxidants hence its regular consumption is beneficial for health. The increasing product launched by market players, coupled with an increase in the number of market players is further anticipated to contribute to the growth of the segment.
Key companies operating in the green tea industry are focusing on the launch of new products and collaborating with other significant small players to strengthen their product portfolio and maintain their market prominence. The Unilever Group, Associated British Foods plc, and Tata Global Beverages Limited are some of the key companies performing in the global green tea industry.
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Green tea is a herbal product, comprised of dried leaves of the plant species Camellia sinensis. Earlier, the tea type was majorly consumed across Asian countries, but with increased awareness about the exceptional health benefitting properties of the product, it has got increased recognition and acceptance across the globe. Green tea has major applications in the beverage industry, the pharmaceutical industry, and the cosmetics industry.
Increasing awareness of the health benefits associated with the consumption of green tea is anticipated to boost the growth of the segment during the forecast years. An increase in a number of health-conscious population, coupled with the increasing prevalence of obesity and other cardiovascular diseases across the globe is projected to fuel the demand for green tea in the forthcoming years.
Lower product adoption across some countries, where tea culture is not very popular is anticipated to hinder the market growth of green tea during the forecast period. Furthermore, the high price of green tea as compared to traditional tea is expected to obstruct the growth of the market in the forthcoming years.
Some of the major companies that are present in the global green tea market are Tata Global Beverages Limited, The Unilever Group, Amorepacific Corporation, Nestle S.A., DSM Nutritional Products, The Coca-Cola Company, Associated British Foods plc, Numi Inc., Oregon Chai Inc., Celestial Seasonings, Inc., and Northern Tea Merchants Ltd. among the other players operating in the global green tea market trend.
On the basis of type, the green tea market has been segmented into tea bags, powder, loose-leaf, capsules, and others.
Tea bags segment is anticipated to exhibit prominent growth during the forecast period, due to the ease offered by the product. Tea bags are convenient to carry and store, as well as easy to use which is further expected to boost the segment’s demand during the forecast period.
On the basis of formulations, the green tea industry has been segmented into the flavored and unflavored segment. The flavored segment is further sub-divided into the lemon, cinnamon, basil, and other flavors. The flavored segment is projected to witness a steep rise in their demand during the forecast years, owing to the increased launch of flavored green tea by manufacturers, coupled with their wide adoption among consumers.
The Asia Pacific is anticipated to hold the major green tea market share during the forecast years, owing to the presence of leading green tea producing and exporting countries, such as China, Taiwan, Japan, and others. Increasing consumer awareness towards the benefit of consuming green tea, coupled with an increase in the number of a product launch in the Asia Pacific is expected to contribute significantly to the growth of the market. The green tea market in Europe is anticipated to witness significant growth during the forecast years, owing to increasing consumer inclination towards healthy and nutritive beverage products.
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