According to a recent market study published by Growth Market Reports, titled, “Global Tea and Tea-Based Beverages Market by Form, By Product Type, By Category, By Packaging, By Distribution Channel and By Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 131.3 Billion in 2022 and is anticipated to expand at a growth rate of 9.3% by 2031.

Tea was discovered around 28 BC, during the time of Shennong in China. Tea is a popular beverage made by steeping the dried leaves of the Camellia sinensis, which is a species of evergreen shrub or small tree in the flowering plant family called Theaceae, plant in hot water. Camellia sinensis, also known as green tea, comprises caffeine and antioxidant polyphenols. It is beneficial for a wide variety of applications, including cancer prevention, mostly on relatively slim epidemiological evidence, cardiovascular disorders, and AIDS.

Get Sample Report @ https://growthmarketreports.com/request-sample/5276

The global Tea and Tea-Based Beverages market has been segmented in terms of form, product type, category, packaging, distribution channel, and region. In terms of form, the global Tea and Tea-Based Beverages market is split into ready-to-drink, loose tea powder, and tea bags. Based on product type, the market is divided into green tea, black tea, oolong tea, fruit/herbal tea, tea blends, and others. On the basis of category, the market is fragmented into organic and conventional. Based on packaging, the market is divided into plastic containers, cartons, and aluminum tins. On the basis of distribution channels, the market is fragmented into store-based and non-store-based. Considering regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The COVID-19 pandemic fueled the use of e-commerce platforms for purchasing tea and tea-based beverages. Non-store-based (online sales channels) became crucial for tea companies to reach and meet the needs of consumers during the lockdown and social distancing measures. Many tea businesses adapted by enhancing their online presence, launching virtual tea tastings, and improving their delivery services to cater to the increased demand for online shopping. The pandemic heightened the focus on health and wellness, leading to an increased interest in herbal tea and tea-based beverages with perceived immune-boosting properties. Consumers sought teas with functional benefits, such as those containing ingredients including ginger, turmeric, and herbal blends. This trend toward healthier options provides a platform for tea companies to innovate and diversify their product offerings.

Key Takeaways from the Study

  • Players in the global Tea and Tea-Based Beverages market include Starbucks Coffee Company, PepsiCo Inc., The Coca-Cola Company, Nestlé, Tata Consumer Products Limited, and ANHEUSER-BUSCH INBEV, Hain Celestial Group, Inc, BARRY'S TEA, The Republic of Tea, Akbar Brothers (Pvt) Ltd, Apeejay Surrendra Group, and Tan Do. These players held a major share of the global Tea and Tea-Based Beverages market in 2022.
  • The rising health awareness, convenience and availability of a wide range of flavors, cultural significance and sustainability, and shifting preferences towards natural, organic, and herbal ingredients across the globe are key factors that drive the Tea and Tea-Based Beverages market.
  • Surge in E-commerce and rising demand for functional beverages by key players is expected to create opportunities in the coming years.
  • Based on form, the market is segmented into ready-to-drink, loose tea powder, and tea bags. The loose tea powder segment is expected to hold a considerable share of the market during the forecast period.
  • Based on product type, the market is fragmented into green tea, black tea, oolong tea, fruit/herbal tea, tea blends, and others. The black tea segment holds a key share of the market. Black tea offers several health benefits, due to its antioxidant content. Antioxidants, found in black tea, help reduce the risk of chronic diseases, improve heart health, support immune functions, and provide anti-inflammatory effects.
  • Based on category, the market is segmented into organic and conventional. The conventional segment is anticipated to expand at a significant CAGR during the forecast period, owing to brand loyalty. Consumers have a strong affinity for certain tea brands that are conventionally grown and processed.
  • Based on packaging, the market is segmented into plastic containers, cartons, and aluminum tins. The plastic containers segment is anticipated to expand at a significant CAGR during the forecast period. The plastic container offers convenience and portability, allowing consumers to easily store and carry their tea without the risk of breakage or spills.
  • Based on the distribution channel, the market is segmented into store-based and non-store-based. The store-based segment is anticipated to expand at a significant CAGR during the forecast period, owing to the convenience it provides, as consumers are able to access tea products easily while they are shopping for other items. The product selection and assortment available in a store tea-based play a vital role in attracting and retaining customers.
  • Based on regions, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  North America accounted for a significant share of the market in 2022. In North America, tea consumption has been steadily increasing in recent years, driven by various trends and preferences such as the rise in popularity of specialty teas, including herbal teas, fruit-infused teas, and artisanal blends. Moreover, inspired by coffee culture, tea lattes have gained popularity in North America. Matcha lattes, chai lattes, and other tea-based lattes variations are found in coffee shops and cafes across the region.

Report Scope

Report Metric

Details

Market Value in 2022

US$ 131.3 Billion

Market Growth Rate (from 2022 to 2031)

9.3%

Historical Data

2016 & 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (US$ Billion)

Market Segments

By Form, By Product Type, By Category, By Packaging, By Distribution Channel, and By Region

Key Companies Profiled

Starbucks Coffee Company, PepsiCo Inc., The Coca-Cola Company, Nestlé, Tata Consumer Products Limited, ANHEUSER-BUSCH INBEV, Hain Celestial Group, Inc, BARRY'S TEA, The Republic of Tea, Akbar Brothers (Pvt) Ltd, Apeejay Surrendra Group, and Tan Do.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

Target Audience

  • Supply-side: Vendor, Manufacturer, Distributors, Supplier, Retailer.
  • Regulatory Side: Concerned government authorities, and other approved regulatory bodies.