Published Date : Feb 12, 2016
The global tea market has always experienced a high demand, thanks to the widespread consumption of tea. The increasing awareness regarding the benefits of consuming tea is also fueling the demand for tea significantly across the world.
Demand from India and China Drives Asia Pacific Tea Market
The global tea market is dominated by Asia Pacific in 2014. India and China are the leading tea market in Asia Pacific. The soaring demand for tea as well as increasing tea production in these countries is projected to maintain the position of the Asia Pacific Tea market in the global arena. Apart from this, the tea market in this region is also expected to generate enormous revenue by exporting tea across the world.
The Europe tea market is led by the U.K and the North America tea market is dominated by the U.S. However, these markets are projected to experience moderate growth in the coming future. On the other hand, the tea market in the Rest of the World is anticipated to gain momentum on the account of increasing demand for tea from Brazil.
CTC Tea to Retain Leading Position
Leaf tea and CTC (crush, tear, curl) tea are the two major products available in the worldwide market for tea. Black tea, oolong tea, and green tea are the main types of leaf tea consumer around the world. Black tea holds the leading position among these, in terms of consumption. However, the rising awareness pertaining to the medicinal qualities of green tea has substantially boosted its demand worldwide.
The CTC tea segment enjoys a bigger consumer base compared to leaf tea. The easy availability and cost efficiency of CTC tea has influenced its popularity positively, owing to which, this segment is anticipated to retain its position in the coming years.
Tata Global Beverages Ltd., Twining, Unilever, Wissotzky Tea, and Akbar Brothers Ltd. are some of the major tea producers across the world.