Authored By: Sarah
28 Oct 2023

Tea Market Analysis through 2023-2027 | Akbar Brothers Pvt. Ltd., Apeejay Surrendra Group, Associated British Foods Plc are among key contributors

Competitive Benchmarking and  Forecasts for Core Companies 2023-2027

The Global Tea Market is experiencing a shift in consumer preferences from traditional tea products to those that offer health benefits, such as antioxidants and herbal tea, which lead the tea manufacturers to introduce new and innovative tea products to expand their existing product lines.

According to Technavio's Market Research, the Tea Market size is projected to increase by USD 20.50 Bn and the market size is estimated to grow at a CAGR of 5.55% between 2022 and 2027.

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Snapshot of Tea Market Analysis

Key Market Players and their Key Offerings: When it comes to the key market placers in the market landscape companies are implementing strategic alliances and product launches, to enhance their market presence in the Tea Market across North America, Europe, EMEA, APAC, US, Canada, China, Germany, UK 

Some Key Offerings include

  • Akbar Brothers Pvt. Ltd offers tea such as Akbar Ceylon Tea.
  • Associated British Foods Plc offers tea that includes Earl Gray, Darjeeling Tea, and Lemon Tea.
  • Fukujuen Co. Ltd offers tea under the brand, Lipton.

Some of the prominent names are  Akbar Brothers Pvt. Ltd., Apeejay Surrendra Group, Associated British Foods Plc, DAVIDsTEA Inc., ekaterra, Fukujuen Co. Ltd., Godrej and Boyce Manufacturing Co. Ltd., Harney and Sons Fine Teas, ITO EN Ltd., M.M.Ispahani LTD., Mighty Leaf Tea Canada, Nestle SA, Numi Inc., Restaurant Brands International Inc., Tata Consumer Products Ltd., etc Technavio's report includes qualitative and quantitative analyses of market leaders with a wider understanding of the business ecosystem. 

Technavio's research report provides insights into the top market players and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors market players must distinguish their product and service offerings through a clear and unique value proposition. Download our sample report for more insights on the Tea Market.

Tea Market Highlights

  • The Tea market is segmented by Product (Black tea, Green tea, and Others ), Distribution Channel (Offline and Online ), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
  • APAC led the market with 64% of the market growth set to originate from this region during the forecast period.
  • New product launches is one of the primary factors driving the growth of the tea market. The report provides a detailed study of this and all the other drivers that will boost market growth. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. 
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