The global green tea market is expected to witness significant growth during the forecasted period of 2024-2029.
Tea is one of the largest consumed drinks worldwide, followed by water, and is known to provide a wide range of health benefits and wellness to consumers. It also contributes to socio-economic development, representing a source of income and employment towards millions of poor families worldwide. Green tea is one type of tea beverage that consists of a wide range of health benefits that help improve the function of the body. Green tea can be considered a type of beverage or dietary supplement that is known for promoting mental alertness, relieving digestive symptoms and headaches, and the promotion of weight loss. Green, black, and oolong teas all come from the same plant known as Camellia Sinensis, but the preparation method is different for green tea, which is produced by steaming, pan frying and drying the green tea leaves. Green tea contains components that help in the reduction of the risk of heart disease and cancer, which include epigallocatechin-3-gallate (EGCG).
Introduction:
As the consumers in the market focus more on healthy and functional food and beverage products, green tea will be expected to grow in demand during the forecasted period due to the wide range of health benefits that green tea provides. The increase in awareness of these health benefits can drive the global green tea market, attracting more health-conscious consumers in the market.
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Regional Analysis:
The Asia Pacific Region is expected to witness significant growth during the forecasted period of 2024-2029. As per the Food and Agriculture Organization, global tea production accounts for $18 billion annually, with the major producers of tea being China, India, Kenya and Sri Lanka. Green Tea has been a very popular beverage due to the wide range of health benefits the tea provides to the human body. India and China are global leaders in tea production and exports, accounting for the majority of the tea market share during the forecasted period. As per the India Brand Equity Foundation, West Bengal, Dooars, Terai, and Darjeeling are the major tea-producing regions in India, and the southern part of India accounts for 17% of the total tea production of the country, which includes Kerala, Tamil Nadu, and Karnataka. India is also one of the largest exporters of tea worldwide, accounting for US$474.22 million in April-October 2022-23. The types of tea include black tea, regular tea, green tea, herbal tea, and many other varieties as well. Black tea, regular tea, and green tea account for the majority of the exports from India, which is an estimated percentage of 80%, 16%, and 3.5% respectively. The major importers of tea from India include Russia, Iran, UAE, USA and many others. The presence of global dominators such as India and China will provide the necessary boost for the growth of the green tea market in this region during the forecasted period of 2024-2029.
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