Green Tea Market Size Worth $21.45Bn, Globally, by 2027 at 6% CAGR - Exclusive Report by The Insight Partners

- The green tea market size was valued at $12.77 Bn in 2018 and is expected to grow at a CAGR of 6.0% from 2019 to 2027 to reach $21.45 Bn by 2027.

NEW YORK, Feb. 24, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Green Tea Market to 2027 - Global Analysis and Forecasts by Type (Green Tea Bags, Green Tea Instant Mixes, Iced Green Tea, Loose Leaf, Others); Flavour (Lemon, Aloe Vera, Cinnamon, Vanilla, Basil, Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online, Others)". The green tea market growth is driven by the increasing awareness regarding health benefits, rising focus of consumers on importance of health, the growing number of obesity cases and cardiovascular diseases.

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Green Tea Market: Competition Landscape and Key Developments

Arizona Beverage Company; Finlays Beverages Ltd.; Hankook Tea; Kirin Holdings Company, Limited; Associated British Foods Plc; ITO EN; Dilmah Ceylon Tea Company PLC; Tata Global Beverages; and Unilever are among the key players operating in the green tea market. The companies are focused on mergers & acquisitions and new product developments to stay competitive in the market and expand their reach.

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Asia Pacific held the largest share of the green tea market in 2020. The large population base in the region, especially in the developing economies of China and India, is the major factor fueling the growth of the green tea market in Asia Pacific. Moreover, expansion of the production of green tea by the manufacturers in China, India, Japan, and South Korea is expected to further aid the market growth in the region.

Green tea is made from leaves and buds of Camellia sinensis, and it does not involve the process of withering and oxidation. The consumption of green tea is known to prevent cancer, liver cirrhosis, obesity, blood pressure, and many other chronic diseases. It also helps in weight loss as it is composed of bioactive substances, including caffeine and polyphenols, that help break down fat cells and discharge them into the circulatory tract. They are also available in different flavors that provide added benefits. Nutrients such as amino acids, vitamins, minerals, polysaccharides, and enzymes are said to be present in aloe vera green tea. Cinnamon green tea helps fight stomach and digestive disorders and increases digestion by enhancing the ability of your body to properly break down food and efficiently absorb nutrients. Basil green tea helps sharpen memory while reducing anxiety. Tulsi green tea is rich in phytonutrients and antioxidants that help protect the body against free radicals. Also, jasmine tea is typically made from green tea leaves, and it offers similar potent health benefits as that of green tea.

Green Tea Market: Segmental Overview

Based on type, the green tea market is segmented into green tea bags, green tea instant mixes, iced green tea, and loose leaf, and others. The green tea bags segment held the largest share of the market in 2020. They are easy to prepare, and the convenience of using tea bags has aided the market growth of green tea bags. The loose-leaf segment is expected to witness significant growth over the forecast period. They offer the maximum health benefits as essential oils remain intact inside the entire tea leaves. Based on flavor, the green tea market is segmented into lemon, aloe vera, cinnamon, vanilla, basil, and others. Lemon accounted for the largest share of the green tea market in 2020. The growing preference for the taste and availability of lemon-flavored green tea by different brands is a major factor in aiding this segment's growth. The aloe vera segment is also expected to witness growth over the forecast period, owing to the increasing awareness of the benefits of aloe vera flavored green tea. Based on distribution channel, the global green tea market has been segmented into supermarkets and hypermarkets, convenience stores, online, and others. The supermarkets and hypermarkets segment accounted for the largest share of the market in 2020. High footfall in these outlets, coupled with the availability of several brands, has aided its development as the preferred retail channel among consumers. However, the online segment is expected to witness growth during the forecast period since the pandemic has drastically changed the shopping experience across the world.  

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Impact of COVID-19 Pandemic on Green Tea Market:

The COVID-19 pandemic has led to a decline in operational efficiencies and interrupted supply chains due to the sudden shutdown of national and international boundaries. Disruptions in supply chains have restricted the movement of goods, which, in turn, is hindering the distribution and manufacturing of green tea. However, supply chain disruption and shutdown of retail outlets such as supermarkets and other brick and mortar stores have aided the development of the online platform for products such as green tea. Consumers are becoming increasingly aware of the benefits of good health and well-being, which has aided the consumption of green tea. Moreover, the improving vaccination or immunization rates across the world has resulted in many major economies opening up the borders and allowing the free flow of goods and people. This is expected to aid the recovery of the green tea market.

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