The Tea Market to Grow by $ 13.24 bn in 2020 | Industry Analysis, Market Trends, Market Growth, Opportunities, and Forecast 2024 | Technavio

Technavio has been monitoring the tea market and it is poised to grow by USD 13.24 bn during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Tea Market 2020-2024 (Graphic: Business Wire)

Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a high impact on the tea market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

• What are the major trends in the market?
  
  Functional benefits of tea is a major trend driving the growth of the market
• At what rate is the market projected to grow?
  
  The market will accelerate at a CAGR of almost 5% and the incremental growth of the market is anticipated to be $ 13.24 bn
• Who are the top players in the market?
  
  Arteasans Beverages LLC, Associated British Foods Plc, ITO EN Ltd., Nestlé SA, Numi Inc., Starbucks Corp., Tata Global Beverages, The Hain Celestial Group Inc., The Republic of Tea, and Unilever Group, are some of the major market participants.
• What is the key market driver?
  
  The new product launches is one of the major factors driving the market
• How big is the APAC market
  
  The APAC region will contribute 61% of the market share

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Arteasans Beverages LLC, Associated British Foods Plc, ITO EN Ltd., Nestlé SA, Numi Inc., Starbucks Corp., Tata Global Beverages, The Hain Celestial Group Inc., The Republic of Tea, and Unilever Group are some of the major market participants. The new product launches will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this tea market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Tea Market 2020-2024: Segmentation

Tea Market is segmented as below:

• Product
  • Black Tea
  • Green Tea
  • Others
• Distribution channel
  • Offline
  • Online
• Geography
  • APAC
  • Europe
  • North America
  • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40978

Tea Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The tea market report covers the following areas:

• Tea Market Size
• Tea Market Trends
• Tea Market Industry Analysis

This study identifies the functional benefits of tea as one of the prime reasons driving the tea market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Tea Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist tea market growth during the next five years
• Estimation of the tea market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the tea market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of tea market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five Forces Summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Black tea - Market size and forecast 2019-2024
• Green tea - Market size and forecast 2019-2024
• Others - Market size and forecast 2019-2024
• Market opportunity by Product

Market Segmentation by Distribution Channel

• Offline
• Online

Customer landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Volume drivers – Demand led growth
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Arteasans Beverages LLC
• Associated British Foods Plc
• ITO EN Ltd.
• Nestlé SA
• Numi Inc.
• Starbucks Corp.
• Tata Global Beverages
• The Hain Celestial Group Inc.
• The Republic of Tea
• Unilever Group

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201123005357/en/