The rising concern about health and fitness has promoted the growth of the global green tea market predicts Fortune Business in their new report, titled,” Green Tea Market Size, Share and Global Trend by Type (Tea Bags, Powder, Loose Leaf, Capsules, Others), By Formulations (Flavored, Unflavored) and Geography Forecast till 2026”. The report provides important business insights related to the green tea market and what all factors will help promote or demote the growth of the market within the forecast period of 2018 to 2026.
Some of the companies functioning in the global market are
- The Coca-Cola Company,
- The Unilever Group,
- Numi Inc.,
- Nestle S.A.,
- Amorepacific Corporation,
- Celestial Seasonings, Inc.,
- Associated British Foods plc,
- DSM Nutritional Products,
- Oregon Chai Inc.,
- Northern Tea Merchants Ltd.,
- Tata Global Beverages Limited, and others.
According to the report, the tea bags segment is expected to dominate the market in the forecast duration in terms of type. Convenience, and easy storage facility offered by tea bags encourage customers to spend on them. In terms of formulation, the flavored green tea segment is anticipated to witness a steep rise in the market in the forecast period on account of the variety of preference of different customers and thus result in its wide adoption. This will help generate more revenue for the overall market in the future.
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Presence of Major Green Tea Production Companies to Make Asia Pacific Emerge Dominant
Fortune Business Insights foresees the global green tea bag market to witness largest share from Asia Pacific. This is because of the presence of major green tea producing companies and exporting countries such as Japan, China, India, Taiwan, and others in the region. The rising awareness about the benefits of green tea consumption and the rising number of product launches are anticipated to generate larger revenues to the regional market in the coming years as well.
On the other side, Europe is prognosticated to grow significantly in the future. The rising awareness and preference towards nutritive diet and healthy living are tipping scales in favor of the growth of the market in Europe.
Major Segmentation includes:
- Tea Bags
- Loose Leaf
Health Benefits Offered by Green Tea Stimulating Market Growth
The rise in awareness about health and physical fitness is promoting the trend of a healthy lifestyle and regular exercise. It also encourages people to keep a check on their daily calorie and nutrient intake, hence rising awareness about the benefits of green tea is identified as a key factor enabling growth in the global green tea market. Green tea is believed to reduce the adverse effect of cancer cells, LDL cholesterol, and thus, their demand is increasing by the day. Green tea is also believed to help cure body aches and headaches. Additionally, regular consumption of green tea also helps to reduce fats and are gaining popularity, especially among the obese and health conscious consumers. All mentioned factors are anticipated to contribute to the growth of the global green tea market in the forecast duration.
However, the cost of green tea is comparatively more than that of black tea, and this may restrict its growth in the future. Also, the lack of awareness about the benefits of green tea consumption, especially in developing nations, may hamper the global market in future.
Launch of Innovative Flavors in Green Tea to Attract Increasing Number of Consumers
Launching innovative flavors of green tea are is one of the main strategies adopted by various market players to maintain a strong foothold in the market. Company collaborations and merger and acquisitions are other strategies adopted by the market for a better revenue generation. For instance, two companies, namely MindFull Inc., and Sequential Brands Group, Inc., collaborated and announced the launch of GAIAM Organic Green Teas February 2019. This product introduced in various flavors such as lemon, hibiscus, mint, pomegranate, and others. Such innovations are anticipated to bode well for the global green tea market during the forecast period.
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