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Tea Global Market Report 2023 by The Business Research Company provides insights on the tea market size, tea market segments, tea market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares. The global tea market is segmented by type into green tea, black tea, oolong tea, fruit or herbal tea, other types by packaging into plastic containers, loose tea, paper boards, aluminium tins, tea bags by distribution channel into super markets or hyper markets, special stores, convenience stores, online stores, other distribution channels by application into residential, commercial Europe is expected to be the fastest-growing region in the global tea market report during the forecast period.
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Get A Free Sample Of The Global Tea Market ReportĪsia-Pacific was the largest region in the tea market in 2022. The company is committed to environmental protection through organic certification, which prohibits the use of synthetic pesticides, herbicides, insecticides, and fertilizers.
The team's purpose for the launch of Just Ice Tea is to promote "Justice" through Fair Trade prices and working standards that relate to a set of environmental and working criteria. For example, Honest Tea Inc., a US-based organic tea and beverage company, debuted a specialized iced tea called "Just Ice Tea" in September 2022, a ready-to-drink organic iced tea. In order to boost their market position, major tea businesses are introducing speciality iced teas. The development of specialized iced teas is a crucial trend in the tea business that is gaining popularity. Major players in the tea market are Barry's Tea Limited, ITO En Ltd., Nestle S.A, TATA Global Beverages, The Republic of Tea Inc., Unilever Group, Taetea Group, Mcleod Russel India Ltd., Hain Celestial Group Inc., Apeejay Surrendra Group, Davids Tea, Numi Organic Tea, Teavana Corporation, Mighty Leaf Tea Company, Numi Organic Tea, Godrej Group, Harney & Sons Fine Teas, and M. The global tea market value is then expected to reach $65.87 billion in 2027 at a CAGR of more than 5.3%.
The global tea market size is expected to grow from $50.1 billion in 2022 to $53.5 billion in 2023 at a compound annual growth rate (CAGR) of more than 6.8%.
As a result, the rise in demand for herbal tea is propelling the tea market forward. For example, according to Euromonitor International, 2022 statistics given by Canada Statistics, a Canadian government agency, the anticipated fruit/herbal tea retail value sales in 2022 were $144.1 million, rising to $286.1 million in 2026. Herbal tea is a sort of tea with benefits such as reduced inflammation, reduced stress, immune system support, and more it compliments a healthy eating regimen. It is a beverage made by steeping the leaves of numerous plants. Herbal tea is a caffeine-free tea made with dried herbs and spices. LONDON, J(GLOBE NEWSWIRE) - As per The Business Research Company’s tea global market report 2023, the increasing demand for herbal tea is projected to move the tea market ahead.
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