DUBLIN, Feb. 22, 2021 /PRNewswire/ -- The "Global Packaged Tea Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
The global packaged tea market is estimated to reach US$65.22 billion in 2024, growing at a CAGR of 6.91% for the period spanning from 2020 to 2024. The factors such as increasing per capita disposable income, the prevalence of tea culture, growing e-commerce, growing health awareness, the introduction of healthy ingredients in tea and introduction of new flavors and new varieties of tea are expected to drive the market. However, the growth of the industry will be challenged by fluctuating prices of raw materials caused by unpredictable climatic conditions and health-related concerns. A few notable trends include increasing consumption of iced tea, increasing demand for herbal tea and the rising popularity of organic tea.
The global packaged tea market is segmented into black, green, fruit/herbal, instant and others. The global packaged tea market is highly dominated by black tea owing to a surge in caffeine beverages consumption and growing health and fitness awareness.
The global packaged tea market is expected to grow in the future due to growing health and fitness awareness and introduction of additional healthy ingredients in tea. In terms of geographical areas, Asia Pacific is the major contributor to the global packaged tea market supported by increasing urban population, growing disposable income and growing awareness regarding health benefits.
Scope of the report:
The report provides a comprehensive analysis of the global packaged tea market, segmented into black, green, fruit/herbal, instant and others.
The major regional markets have been analyzed.
The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
The competitive landscape of the market, along with the company profiles of leading players (Unilever Group, Tata Consumer Products Ltd, Associated British Foods Plc, ITO EN, Ltd, Hain Celestial Group and DAVIDsTEA, Inc.) are also presented in detail.
Key Topics Covered:
1.2 Types of Tea
1.3 Tea Packaging
2. Impact of COVID-19
2.1 Decline in Global GDP Growth
2.2 Rise in Unemployment
2.3 Decline in Global Trade
2.4 Decline in Industrial Production
3. Global Packaged Tea Market Analysis
4. Regional Packaged Tea Market Analysis
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Increasing Disposable Income
5.1.2 Prevalence of Tea Culture
5.1.3 Growing E-commerce
5.1.4 Growing Health Awareness
5.1.5 Introduction of Healthy Ingredients in Tea
5.1.6 Introduction of New Flavors and New Varieties in Tea
5.2 Key Trends & Developments
5.2.1 Increasing Consumption of Iced Tea
5.2.2 Increasing Demand for Herbal Tea
5.2.3 Rising Popularity of Organic Tea
5.3.1 Fluctuating Prices of Raw Materials Caused by Unpredictable Climatic Conditions
5.3.2 Health-Related Concerns
6. Competitive Landscape
6.1 Global Market
6.1.1 Key Players - Revenue Comparison
6.1.2 Key Players - Market Cap Comparison
6.1.3 Global Packaged Tea Market by Company
7. Company Profiles
Associated British Foods Plc
Hain Celestial Group
ITO EN, Ltd
Tata Consumer Products Ltd
For more information about this report visit https://www.researchandmarkets.com/r/k5knp9
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SOURCE Research and Markets