According to a new market research report "Green Tea Market to 2027 - Global Analysis and Forecasts by Type (Green Tea Bags, Green Tea Instant Mixes, Iced Green Tea, Loose Leaf, Others); Flavour (Lemon, Aloe Vera, Cinnamon, Vanilla, Basil, Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online, Others)" published by The Insight Partners, the Green Tea market size is projected to grow from US$ 12,777.6 million in 2018 to US$ 21,456.2 million by 2027, at a Compound Annual Growth Rate (CAGR) of 6.0% during the forecast period.
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Green tea is prepared from the Camellia sinensis plant. The leaf buds and dried leaves of the Camellia sinensis plant are used in the preparation of the green tea. It is prepared by pan-frying and steaming these leaves followed by drying them. Green tea is generally produced through enzymatic hydrolysis technique. Green tea is known to be beneficial against various health issues such as depression, various types of cancers such as lung cancer, liver cancer, colon cancer, gastric cancer, and many others. Some of the scientific studies have also proven that the consumption of green tea is beneficial in enhancing the thinking skills and also is helpful in lowering cholesterol and triglycerides in the body.
Impact of COVID-19 Pandemic on Green Tea Market:
The COVID-19 pandemic has led to a decline in operational efficiencies and interrupted supply chains due to the sudden shutdown of national and international boundaries. Disruptions in supply chains have restricted the movement of goods, which, in turn, is hindering the distribution and manufacturing of green tea. However, supply chain disruption and shutdown of retail outlets such as supermarkets and other brick and mortar stores have aided the development of the online platform for products such as green tea. Consumers are becoming increasingly aware of the benefits of good health and well-being, which has aided the consumption of green tea.
Competition Landscape and Key Developments
Arizona Beverage Company; Finlays Beverages Ltd.; Hankook Tea; Kirin Holdings Company, Limited; Associated British Foods Plc; ITO EN; Dilmah Ceylon Tea Company PLC; Tata Global Beverages; and Unilever are among the key players operating in the green tea market. The companies are focused on mergers acquisitions and new product developments to stay competitive in the market and expand their reach.
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