In the present day, there is no doubt that world is increasingly favoring green tea. Trends reveal that the global tea market has expanded in the past few years and tea lovers are fuelling up this growth every passing year.
Today’s consumers highly prefer healthier alternatives to sugared fruit juices, soft drinks, and sometimes even coffee. The choice of tastes have altered since past few years. Urbane consumers are inclining greatly toward more healthy alternatives. The trend for green tea is driven by the awareness and understanding among consumers about the benefits of organic food and beverages. Additionally, the increasing diseases, have also triggered a need among consumers to go for a more practical, instead of volatile approach to their health.
The health benefits offered by green tea are boosting its demand profoundly on a global scale. The global green tea market is witnessing boosted growth mainly owing to the availability of various options in the flavors of green tea. Among all the variants of teas, green tea is the least treated and offers the most antioxidant polyphenols, particularly a catechin named epigallocatechin-3-gallate (EGCG), which is supposed to be accountable for most of the health benefits associated to green tea.
Even though, black tea as well as green tea are sourced from the same plant, green tea is quite different owing to its specific processing technique, color, subtle flavors, and better health benefits. Globally, the manufacturing of black tea has surged by only 3%, while it is around 6.4% in the case of green tea.
Green Tea Market Trends and Developments
Many tea manufacturers are coming up with innovative green teas in different flavors, such as lemon and ginger, to satisfy the taste buds of their potential customers. Some of the leading players active in the green tea market are concentrating on emerging strategies, such as partnerships, product development, mergers and acquisitions, and collaborations to achieve a foremost position in the global market. For instance,
- In January 2021, Tata Consumer Products, the second-largest manufacturer & distributor of tea and a major producer of coffee across the globe, strengthened its wellness portfolio in the packaged beverages category in order to cater to consumer needs by introducing two new products – TATA Tea Gold Care and TATA Tea Tulsi Green, and reformulated its existing Tetley Green Tea with added Vitamin C.
- In January 2022, Numi Organic Tea, known for its assortment of organic & fair trade certified teas, entered into a partnership with WeWork, the leading global flexible space providers, to become its exclusive tea partner. With this partnership, Numi will provide its tea products to WeWork members in over 275 locations and more than 1,000 pantries in the United States and Canada.
- In March 2022, Shizuru announced the launch of Japan’s finest green tea, Ocha in India, which is loved across the world for its restorative qualities. EIJ Consulting is bringing Ocha green tea to India in three distinct flavors —Genmaicha, Sencha, and Gyokuro.
COVID-19 Impact on the Green Tea Industry
The unexpected outburst of the coronavirus pandemic has positively impacted the global green tea market. This is mainly because numerous people have started adopting healthy lifestyle and eating and drinking habits to prepare and safeguard their body against the deadly virus during the lockdown period. This has boosted the consumption of green tea among people, due to its amazing health benefits, which is boosting the market growth.
To sum up, the future of the green tea industry is unquestionably sanguine and the industry is estimated to be one of the most revenue generating segments of the global tea market in the forthcoming years.
Forecast Analysis of Global Green Tea Market
The global green tea market is projected to witness a striking growth during the forecast period, owing to the launch of new green tea products and improvements in the existing products. In addition, the growing demand for high nutrition beverages like matcha green tea is expected to create huge growth opportunities for the global market. Conversely, the lack of awareness among people in developing countries and the high costs of green tea are factors expected to hamper the market growth in the projected timeframe.
The rising demand for healthy beverages and the rapidly increasing lifestyle diseases like blood pressure, diabetes, anxiety, obesity, and depression are the significant factors estimated to propel the growth of the global green tea market in the coming future. According to a latest report published by Research Dive, the global green tea market is expected to garner $29,267.30 million during the forecast period (2022-2030). Regionally, the Asia-Pacific region is estimated to dominate in the global industry, mainly due to the presence of major green tea producing countries like India, China, Pakistan, and Sri Lanka in the region.
The key players functioning in the global green tea market include Unilever Plc., Typhoo Tea, Tata Consumer Products ltd., Associated British Foods Plc., Tazo Tea Company, The Begilow Tea Company, Numi Organic Tea, East West Tea Company LLC, The Republic of Tea, Inc., and Northern tea Merchants Ltd..