Global Tea Market is anticipated to cross USD 90 Billion by 2028

Tea is the world’s most consumed drink, after water. Tea is thought to have originated in northeast India, north Myanmar (Burma), and southwest China, but the specific location is unknown. Tea was consumed in China over 5000 years ago, according to evidence. Tea is the most popular produced drink in the world, outselling all others combined (including coffee, soft drinks, and alcohol). The majority of tea eaten outside of East Asia is grown on enormous plantations in the hilly regions of India and Sri Lanka for sale to large corporations. In contrast to this large-scale industrial manufacturing, there are several little ""gardens,"" often miniscule plantations that create highly sought-after teas treasured by gourmets. These teas are rare and expensive, comparable in price to some of the most expensive wines. Tea is more than just a drink in many places; it is an old custom that is distinctive to each culture. Tea comes in a variety of flavours that vary depending on the oxidation and fermentation techniques used. Tea planting provides employment and income to millions of smallholder growers in various countries, supplementing or even replacing production from larger tea estates. While three-quarters of tea produced is consumed domestically, tea is a commodity that is widely traded and exported. The global tea industry has grown rapidly in recent decades, with an increasing number of customers worldwide. Tea is a beverage made from the Camellia sinensis plant's leaves. It is available in a variety of flavours, aromas, and colours, including black, green, oolong, white, and herbal teas. It is high in antioxidants, which can help protect the body from free radical damage. It's a fragrant beverage created by pouring boiling or hot water over fresh or cured tea leaves. It also includes caffeine and other helpful components like theanine, which can boost mental alertness and reduce stress. It helps to improve heart health, lower the risk of certain cancers, and promote weight management.

Global Tea Market is anticipated to cross USD 90 Billion by 2028, increasing from USD 61.50 Billion in 2022. The market is expected to grow with 6.88% CAGR by 2023-28. Countries in South America, such as Brazil, Argentina, and others are exhibiting a healthy demand for hot tea. Consumers in the regions are becoming more health conscious and their preference for herbal tea, green tea, and organic tea is also increasing. The increasing prevalence of obesity is a major issue in the region. As consumer awareness is increasing, consumption of green tea is increasing as it helps in weight loss. The market players are launching new campaigns and advertisements to make people aware of the benefits of tea consumption. The prominence of health campaigns coupled with the steady demand for green tea is driving the demand for tea in this region. Demand for herbal tea is also increasing in the region owing to its health benefits and several old age populations in the region. According to World Bank data from 2021, 10% of Brazil's population is of age 65 or older. Additionally, owing to the millennial population in the region, the demand for iced tea is also increasing. New flavours of iced tea like peach, mango, strawberry, and many more are attracting young consumers in the region. Premiumization of tea products is gaining prominence among consumers owing to its functional properties, which in turn is expected to boost the growth of the market. The expansion of food service channels has also facilitated the growth of the tea market in South America. Over the medium term, the market is expected to grow owing to the rising disposable income, more working population, and product innovation. In Brazil, the consumption of tea is increasing owing to its herbal benefits, convenience, and variety. Consumers are willing to pay more for the variety of tea products that are available in the market. Consumers prefer black tea, green tea, herbal tea, and other tea types. The millennials in the country are attracted to the variety of flavors that are present in iced tea beverages. Market players have been innovating new products with different fruit flavors like peach, pear, and many more. Furthermore, a rise in disposable income, changes in taste preferences, and healthy ingredients added to the tea are other factors that fuel the market growth.

Market leaders are introducing fresh and healthful tea items that are enticing consumers all around the world. Tea provides hydration, quick refreshment, and energizing benefits that are favorable to the health of the consumer. Various herbal versions with reinforced nutrients are available in a variety of sizes and flavours on the market, pushing their expansion. To attract customers, market firms are launching ayurvedic and herbal tea. For example, in June 2022, the Clipper Tea Company of the United Kingdom increased their product line in the United States with new packaging and tastes. Organic earl grey black tea, organic orange & turmeric herbal tea, organic green tea & lemon, organic winter apple and cinnamon herbal tea, and organic winter berries herbal tea are among the new tastes.

Link to full report: https://www.bonafideresearch.com/product/231029471/global-tea-market