Market Research Future published a Half Cooked Research Report on Global Green Tea Market which is estimated to grow at a CAGR OF 5.3% after 2023
The major Key Players in the Green Tea Market are
- AMORE Pacific Corp. (South Korea)
- Arizona Beverage Company (USA)
- Associated British Foods LLC (UK)
- Celestial Seasonings (UK)
- Cape Natural Tea Products (South Africa)
- DSM Nutritional Products (Europe)
- Hankook Tea (Korea)
Global green tea market is highly concentrated in Asia Pacific. Latin America has massive potential for green tea, as there is an increasing consumer awareness regarding the green tea coupled with the per capita disposable income is anticipated to fuel the sales of green tea during the forecast period.
The demand of the green tea is increasing due to the changing lifestyle coupled with the growing consumer awareness and rising health and wellness concern. The demand of green tea is increasing significantly for its various health benefits. Tea is one of the most widely consumed beverages in the world especially in Asian Countries. Furthermore as green tea has been found to be superior to black tea in terms of health benefits, the demand for green tea has increased.
Green tea is made from camellia sinensis leaves that have undergone minimal oxidation during processes. Green tea comes in various forms such as powder, tea bags and loose leaf, of which due to increasing demand for on-the-go products, the demand for green tea bags have tremendously increased in recent years.
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Increasing cardiovascular diseases and obesity cases are anticipated to fuel the sales of green tea during the forecast period. Also, the presence of catechin a type of natural phenol and antioxidants in green tea inhibit the growth, motility, and invasion of cancer cells and helps in removal of malignant cells. These medicinal and functional aspects of green tea will support the growth of the global green tea market during the forecast period.
One of the recent trend in the market is RTD green tea. Ready to drink green tea is gaining acceptance among the consumer due to the convenience solution. Also, the manufacturers of green tea is focusing to enhance its packaging solution in order to attract new customers.
Decaffeinated segment is estimated to account maximum market proportion during the forecast period of 2017 to 2023. Loose leaf segment is estimated to retain its dominance throughout the forecast period of 2017-2023. Tea bags is projected to witness highest growth as compare to the other segment. In terms of distribution channel, supermarkets & hypermarkets is likely to hold maximum market proportion during the forecast period. However, online sales are gaining momentum in the developing nation which is projected to observe maximum growth during the review period.
The Global Green Tea Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, Asia Pacific region is expected to retain its dominance throughout the forecast period. This is attributed by the increasing per capita disposable income coupled with the changing lifestyles of the consumer in developing economies. Europe is also estimated to hold healthy market proportion in the green tea market. However, China is projected to register maximum CAGR during the forecast period in Asia Pacific region. Especially China and India offer a lucrative opportunity in the Asia Pacific region for the green tea manufacturers. Latin American region is projected to show a high potential in the green tea market due to the rising disposable income of some of the countries.
Global Green tea market is segmented by type, form, formulation, distribution channel and region
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