Packaged Tea Market accounted for US$ 195 billion in 2020 and is estimated to be US$ 297.1 billion by 2030 and is anticipated to register a CAGR of 4.8%. Drinking tea has become fashion among youngsters and old aged people so tea needs to be preserved, stored and packed properly in order to retain its freshness, taste as well as it’s aroma. Packaging of tea preserves it from all external conditions such as any infectious contaminators or climatic change thus ensuring the quality of tea. Black tea and green tea are most popular due to its health benefits while herbal tea is gaining popularity.
The report " Global Packaged Tea Market, By Type (Iced Tea, Green Tea, Organic Tea and Others), By Packaging (Plastic Containers, Paperboards, Aluminum Tins and Tea Bags), By Application (Residential and Commercial), By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Stores and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”
Key Highlights:
· On 6th March 2021, Ahmedabad-based packaged tea maker Wagh Bakri Tea Group is looking to strengthen its distribution footprint and roll out more variants under the health and wellness segment to grow its sales. The company is also looking to set up tea lounges across the country to increase out-of-home tea consumption.
Analyst View:
Increasing concern regarding health the market of black and green tea is growing rapidly which in favors boost the market of packaged tea. Additional healthy ingredients in tea by different manufacturers also boost the market. Tea also helps to reduce cell damage due to free radicals as well as lower the cholesterol level which is the another factor that drives the market.
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Key Market Insights from the report:
The Global Packaged Tea Market accounted for US$ 195 billion in 2020 and is estimated to be US$ 297.1 billion by 2030 and is anticipated to register a CAGR of 4.8%. The Global Packaged Tea Market is segmented based on the on type, packaging, application, distribution channel and region.
· On the basis of Type, the Global Packaged Tea Market is segmented into iced tea, green tea, organic tea and others.
· Based on Packaging, the target market is segmented into plastic containers, paperboards, aluminum tins and tea bags.
· On the basis of application, the target market is segmented into residential and commercial.
· On the basis of distribution channel, the target market is segmented into supermarkets & hypermarkets, specialty stores, online stores and others.
· By region, the Global Packaged Tea Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific and Europe are the two dominating regions which occupy the highest share of packaged tea market due to high growth of supply chain activities and development of packaging solutions .
Competitive Landscape:
The key players operating in the Global Packaged Tea Market include Associated British Foods Plc, DAVIDsTEA, Inc., Hain Celestial Group, ITO EN, Ltd, Tata Consumer Products Ltd, Unilever Group.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
