Tea Market to reach US$20.0 Bn by the end of 2025
A large number of companies operate in the global tea market rendering it highly
competitive. The primarily compete on the basis of product quality, service, brand image,
innovation, price, and distribution. While the market exhibits presence of several
prominent players such as Tata Global Beverages, Kusmi Tea, Davids Tea, and
Unilever Plc. and Unilever Plc., small and medium-scale suppliers are also present in
plenty, finds Transparency Market Research (TMR) in a new study.
TMR pegs the global tea market to reach US$20.0 bn by the end of 2025, from US$12.8
bn in 2017. If these figures hold true, the global tea market will exhibit a CAGR of 5.7%
between 2017 and 2025. Based on type, the demand for crush, tear, curl (CTC) tea is
expected to remain considerably high through the course of the forecast period.
Regionally, Asia Pacific emerged dominant in the global market. Between 2017 and
2025, the Asia Pacific tea market is likely to rise at a CAGR of 6.8%.
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Rising Knowledge about Help Benefits Tea Offers will Fuel its Consumption
As per TMR, the global tea market is likely to remain steady in the forthcoming years.
The rising demand for tea around the world will enable the market to sustain growth
through the forecast period. TMR finds that traditional tea will remain popular among tea
lovers worldwide. Besides its cost-efficiency, the steadily increasing consumption of
traditional tea will enable it secure a significant share in the global tea market.
Meanwhile, the rising popularity of premium tea such as oolong tea, yellow tea, and
white tea will create considerably growth opportunities for the market. The demand for
premium tea varieties is expected to rise in the coming years and consumers’
willingness to spend increase in response to their increasing disposable income.