The Green Tea Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Green Tea Global Market Report 2024, The green tea market size has grown strongly in recent years. It will grow from $16.14 billion in 2023 to $17.6 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increased awareness of the health benefits, globalization, high prevalence of lifestyle related health conditions, tea plantation expansions, growing adoption of green tea.
The green tea market size is expected to see strong growth in the next few years. It will grow to $23.65 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to e-commerce growth, consumer preference for sustainability, rising tea tourism, increasing demand from an aging population, supportive government initiatives. Major trends in the forecast period include functional green teas, premiumization, convenience and ready-to-drink, fusion flavors, clean label products.
The consumer’s shift toward healthy food choices is anticipated to fuel the green tea market. Healthy food choices refer to the selection and consumption of foods that contribute to overall well-being, support good health, and provide essential nutrients needed for optimal bodily functions. Green tea is a beverage or dietary supplement that has the potential to enhance mental alertness, alleviate digestive discomfort and headaches, and aid in weight loss. For instance, in May 2022, according to the International Food Information Council, a US-based non-profit organization supported by the food, beverage, and agricultural industries, around 52% of Americans followed a diet or eating pattern including clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based (12%) in 2022, a significant increase from 39% in 2021. Therefore, the consumer’s shift toward healthy food choices is driving the green tea market.
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The green tea market covered in this report is segmented –
1) By Type: Green Tea Bags, Green Tea Instant Mixes, Iced Green Tea, Loose Leaf, Capsules, Other Type
2) By Category: Organic, Conventional
3) By Flavored: Flavored, Unflavored
4) By Distribution Channel: Supermarkets And Hypermarkets, Specialty Stores, Convenience Stores, Online Stores, Other Distribution Channel
Major companies in the green tea market are focused on developing plant-based and vegan products, such as plant-based energy drinks, for healthier alternatives and maximizing their profits in the market. A plant-based energy drink is a beverage derived from botanical sources, providing a natural and sustainable alternative to traditional energy drinks and often containing plant extracts and functional ingredients such as green tea. For instance, in April 2021, ITO EN Ltd., a US-based provider of non-alcoholic beverages and tea-related products, launched the matcha LOVE ENERGY +, a plant-based energy drink. The new line features green tea and matcha blends with functional ingredients aimed at benefiting the body and mind, offering varieties such as soothing, immunity, and focus. Each variant contains 50 mg of natural caffeine, catechin antioxidants, vitamin C, and L-theanine for a gentle energy boost and mental clarity. The drinks, packaged in colorful, recyclable 8.2-ounce steel cans, provide a clean and natural energy option with functional benefits.
The green tea market report table of contents includes:
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