Top 5 Trends Shaping the Tea Industry Worldwide in 2023
A recent research report by Syndicated Analytics finds that the global tea market size reached US$ XX Billion in 2022. The report also forecasts that the market is expected to reach US$ XX Billion by 2028, with a projected growth rate (CAGR) of XX% during the forecast period (2023-2028).
Tea is an aromatic beverage prepared by pouring boiling water over the cured leaves. It exhibits a bitter flavor due to its caffeine content and is a rich source of antioxidants and bioactive compounds, such as flavonoids, caffeine, proteins, xanthines, and amino acids. It also assists in minimizing the risk of heart attack and stroke, supporting weight loss, maintaining bone health, boosting immunity, and enhancing digestion. In addition, it has anti-cariogenic, anti-microbial, anti-inflammatory, and anti-carcinogenic properties that are effective for oesophageal, colon, and lung cancers and urinary stones. Owing to these benefits, tea is consumed by individuals of all age groups across the globe.
Top 5 Trends Shaping the Tea Industry:
Introduction of Innovative, Premium and Organic Product Variants
With the rising disposable incomes of consumers, tea manufacturers are introducing premium and health-oriented product variants. They are incorporating healthy ingredients into their formulations that also assist in managing common health conditions. In addition, the leading players are developing premium product variants, such as black tea, oolong tea, and green and herbal tea, to attract health-conscious consumers. They are also introducing organic tea variants in unique flavors, such as lemon, orange, mint, cranberry, and pomegranate, to expand their existing consumer base. Moreover, due to hectic work schedules and increasing stress levels, individuals widely prefer tea as a stress-relieving drink, as it reduces cortisol and toxins from the body. As a result, the growing inclination toward the consumption of organic tea is providing a positive impact on the growth of the tea market.
Growing Awareness Regarding Associated Health Benefits
The growing awareness among individuals regarding the numerous health benefits offered by regular tea consumption is also contributing to the market growth. Tea assists in reducing blood cholesterol levels, improving diabetes and obesity, enhancing digestion, strengthening the immune system, minimizing the risk of heart attacks and facilitating healthy weight management while also reducing stress levels, which is escalating its demand across the globe.
Rising Adoption of Convenient Packaging
At present, various key players are adopting multi-layered packaging to minimize the chances of spoilage and adulteration while keeping the freshness and aroma of the product intact. They are also using plastic containers, loose tea, paper boards, tea bags, paper packaging, and aluminum tin boxes for packing and transportation, which is creating a positive outlook for the market.
Increasing Product Utilization in the Cosmetics and Personal Care Industry
The increasing utilization of tea in formulating multiple personal and skincare care products is also positively influencing the market growth. Tea extracts are widely used in many cosmetics, such as creams, shower gels, moisturizing lotions, hair products, and facial masks. Moreover, green tea extracts are utilized in products for problematic skin types, as they inhibit excessive sebum production and can be applied by people with sensitive and allergic skin, which is accelerating the product adoption rate in the personal care industry.
Emerging Popularity of Tea Lounges
Over the past few years, various tea lounges have been opening across the globe. These lounges offer a variety of handpicked teas from different regions. These places also provide consumers with hangout spaces where they can indulge in conversations. This, coupled with the growing popularity of tea schools and tea art training and the staging of tea expos and tea events, is escalating the demand for premium tea worldwide.
About Syndicated Analytics:
Syndicated Analytics, a subsidiary of IMARC Group, specializes in providing consulting services and market intelligence through research reports, production cost reports, and feasibility studies. Our team of experienced researchers and analysts serves various clients, including SMEs and Fortune 1000 companies. We offer syndicated and customized research to aid clients in conducting early-stage analysis and formulating revenue-generating business strategies.