Global Green Tea Market Size By Type (Green Tea Bags, Green Tea Instant Mixes, Iced Green Tea), By Flavor(Lemon, Aloe Vera, Cinnamon), By Distribution Channel(Supermarkets and Hypermarkets, Convenience Stores, Online), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Green Tea Market size is projected to reach a CAGR of 7.50% from 2023-2030.
Green tea is prepared from the Camellia sinensis plant. The leaf buds and dried leaves of these plants are used in the preparation of green tea. It is prepared by pan-frying and steaming these leaves, followed by drying them. Green tea is known to be effective against depression, and various types of cancers such as lung cancer, liver cancer, colon cancer, and gastric cancer, among various health issues. Some scientific studies have also proven that the consumption of green tea helps enhance thinking skills and lower cholesterol as well as triglyceride levels in the body. Green tea has gained the attraction of Indian consumers over the past few years, mainly due to its health benefits. Regular consumption of green tea boosts the immune system, helps maintain weight within desired limits, reduces physical stress, and keeps check on skin redness.
The rising awareness concerning the health benefits and the growing focus of consumers on leading a healthy lifestyle are some of the vital factors that are estimated to encourage the growth of the market throughout the forecast period. In addition, the tremendously rising number of obesity cases and people suffering from cardiovascular diseases is estimated to boost the demand for green tea across the globe. As green tea is believed to reduce the effect of LDL cholesterol, and cancer cells, and cures head and body aches. In addition, green tea also helps significantly in fat reduction. These factors are estimated to fuel the growth of the overall market in the next few years. Furthermore, growing demand for functional beverages to fuel the market. The emerging trend of on-the-go nutrition and healthy hydration has significantly increased the demand for functional beverages among consumers. The Green type of tea contains a high type of antioxidant that helps reduce the aging of the cell and tissues and improved normal body function. The growing demand for nutrient-enriched beverages to reduce the risk of certain health conditions fuels the growth of the market.
On the other hand, the higher price of green tea in comparison with black tea and the lack of awareness, especially in developing economies are anticipated to restrict the growth of the global Green Tea Market in the next few years. Additionally, the presence of many nutritive beverages in the market other than green tea like cinnamon tea, specialty tea, and matcha tea is likely to shift the customer’s preference towards different products and this can hamper the growth of the market.
The spread of COVID-19 is expected to increase the demand for shopping from e-commerce platforms, prompting retailers to invest in automation solutions to cater to the burgeoning demand. Companies endeavoring to protect themselves from supply chain disruptions in the future are also likely to deploy automation solutions. Consequently, the growth of the Green Tea Market is driven by the increased demand for automated storage and retrieval solutions from the e-commerce and food & beverages industries. However, the imposition of lockdowns in different countries has led to severe cash flow issues for market players. The semiconductor & electronics manufacturing curve has flattened as well but is stable. In addition, the size of the machinery industry is contracting but is expected to stabilize in the coming years. Furthermore, halting or slowing down production in manufacturing-based industries such as automotive, metals and heavy machinery, aviation, and semiconductor & electronics industries globally resulted in a decline in demand for autonomous forklifts in 2020. However, the market is expected to gain momentum due to the growing e-commerce and retail industries after 2020.
Growing consumer desire for natural and organic goods increased knowledge of green tea's health advantages, and the development of the tea sector in emerging nations are all factors driving the green tea market. Despite the sector being dominated by a limited number of major players and the market is generally consolidated, there is still considerable market fragmentation because of the existence of smaller businesses and specialized markets. As consumers become more health-conscious and the demand for natural and organic products rises, it is anticipated that the green tea market will keep expanding in the future. As businesses aim to respond to individual customer demands and preferences, the sector is expected to witness more innovation and product diversification, particularly in the premium and specialist categories.
Asia Pacific to Dominate the Market