Green Tea Market Size Worth $ 9 BN by 2024 With a CAGR of 5.8% Due to Medicinal Benefits
Green Tea Market is expected to garner a revenue of USD 9 billion by 2024, with a CAGR of 5.8% during the forecast period, 2019–2024, Global Green Tea Market Research Report: Information by Form, Category, Distribution Channel and Region
Pune, India – October 9, 2019 /MarketersMedia/ —
Green Tea Market Overview
Green Tea Market is defined as a tea that offers many health benefits, including weight-loss. A new report on the global green tea market, published by Market Research Future (MRFR), counts that this market can show improvement at 5.8% CAGR during the forecast period (2019-2024). In terms of value, the market is to be worth USD 9 Bn by the end of the forecast period.
The most noteworthy market driving factor for the Global Green Tea Market growth is the medicinal benefits of green tea. The antioxidant property of green tea can help to block the oxidation of low-density lipoprotein and cholesterol. Hence, the popularity of green tea, along with the market for it can surge due to the increasing prevalence of cardiovascular ailments and obesity cases. The rising costs of healthcare are encouraging consumers to consume green tea to stay healthy. Other global Green Tea Market driving factors that can progress the market growth include rising demand for functional food & beverages, continuous research & development (R&D) in this field to launch new as well as innovative products, and strategic initiatives undertaken by the major market players.
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Key Players
Big players in the global Green Tea Market are Arizona Beverages USA (USA), Associated British Foods PLC (UK), The Bigelow Tea Company (USA), Cape Natural Tea Products Pty Ltd (South Africa), Celestial Seasonings (USA), East West Tea Company LLC (USA), Hankook Tea USA Inc. (USA), Koninklijke DSM N.V. (the Netherlands), Mekor Corporation (USA), Numi Inc. (USA), Organic India (India), Starbucks Corporation (USA), Tata Global Beverages Limited (India), The Republic of Tea (USA), and Unilever PLC (UK).
Latest Industry News
In Sacramento, USA, green tea maker Happy Lemon has opened a new outlet at 3660 Crocker Drive, Suite 110, in Curtis Park. 26 SEP 2019
Market Segmentation
The Global Green Tea Market segmentation encompasses category, distribution channel, and form. MRFR’s research on the market highlights many facets of the market in-depth.
The category-based segmentation of this market covers conventional and organic. The conventional segment has a larger market share in the global market as few people are familiar with organic. However, the organic segment is expected to experience higher growth during the review period.
In the context of the distribution channel, the market has been segmented into store-based distribution channel and non-store-based distribution channel. The store-based distribution segment has been segmented into convenience stores, supermarkets & hypermarkets, and others. Although the store-based distribution channel holds a larger share, due to increasing internet penetration, the non-store-based distribution channel can increase its market share during the forecast period.
Regarding form, the market has been segmented into loose-leaf, powder, tea bags, and others. In the global market, the tea bag segment is the largest as well as the fastest-growing segment.
Regional Segmentation
A geographical outlining of the Global Green Tea Market covers North America, Asia Pacific, Europe, and Rest of the World (RoW).
North America is the most extensive regional market due to presence of major market players in the USA, growing awareness about the health benefits of green tea, availability of advanced technological facilities for production, and the trend of consumers becoming more health-conscious. After the USA, Canada and Mexico earn maximum profits for the market.
The market in Europe is strong due to the high density of population, the trend among consumers to be health-conscious, and technological advancement. After North America, maximum important market players are based in Europe. Countries that form the cream of the European market are France, Germany, Italy, Spain, and the UK. Research on the remaining countries in Europe featured in this report calculates the strong addition to market revenue from various other countries in this region.
In the Asia Pacific region, the market is growing due to the high density of population in China and India, stable technological advancement, increasing production, and growing awareness about the health benefits of green tea. Japan is another important revenue-generating market. An examination of the remaining countries in the Asia Pacific region featured in this report adds the extra market revenue from some other countries.
The RoW segment covers the countries in Africa, the Middle East, and South America. Due to economic stability, South America and the Middle East are better markets compared to Africa.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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