The global organic tea market is set to gain momentum from the rising popularity of retail organic food and beverages on account of their easy consumption and wide availability. This information is given by Fortune Business Insights™ in a new report, titled, “Organic Tea Market Size, Share & Industry Analysis, Type (Black Tea, Green Tea, and Others), Form (Tea Bags, Loose Leaves, Loose Powder, and Ready-to-drink), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, and Online Retail), and Regional Forecast, 2020 – 2027.” The report further states that the organic tea market size was USD 820.8 million in 2019. It is projected to reach USD 1,918.7 million by 2027, exhibiting a CAGR of 11.2% during the forecast period.
A list of
all the renowned organic tea providers operating in the global market:
- Associated British Foods plc (London, U.K.)
- Unilever plc (London, U.K.)
- Tata Consumer Products Limited (Mumbai, India)
- The Bigelow Tea Company (Connecticut, U.S.)
- The Republic of Tea, Inc. (California, U.S.)
- The Stash Tea Company (Oregon, U.S.)
- Tazo Tea Company (Washington, U.S.)
- Shangri La Tea Company (Nevada, U.S.)
- Newman’s Own, Inc. (Connecticut, U.S.)
- Organic India Pvt. Ltd. (Lucknow, India)
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REPORT COVERAGE-
This report includes in-depth information
associated with change in material usage, new product launches, and
technological advancements. It provides market dynamics based on various
factors, such as opportunities, challenges, drivers, hindrances, and dynamics.
At the same time, it will deliver a complete insight from the supply side
respondents related to market share, distribution, and size.
DRIVERS
& RESTRAINTS-
High Demand
for Nutrient-rich Food & Beverages to Bolster Growth
People nowadays are inclining rapidly toward
nutrient-rich food & beverages for maintaining their overall health and
wellness. They are looking for products that contain more functional
ingredients to reduce the occurrences of lifestyle-related health disorders,
such as obesity, cardiovascular conditions, and diabetes. Also, the increasing
demand for ready-to-drink functional beverages from millennials would
accelerate the organic tea market growth in the near future. However, this tea
is expensive because of its limited production. It may obstruct growth.
Read Detailed Summary of This Report:
https://www.fortunebusinessinsights.com/industry-reports/organic-tea-market-100804
COVID-19
IMPACT-
COVID-19
Pandemic: Urgent Need to Enhance Immune Systems to Aid Growth
The COVID-19 pandemic has taken a huge toll
on the entire food system worldwide. The supply chain of organic tea was
disrupted owing to nationwide lockdown and social distancing measures. However,
the rising concerns of people regarding their health and immune systems are
expected to propel the demand for numerous nutritional beverages across the
globe. It is likely to impact the market positively.
Regional
Insights-
Increasing
Awareness of Health Benefits to Spur Growth in North America
Geographically, North America procured USD 262.6 million in terms of revenue
in 2019. It is set to lead the market throughout the forthcoming years on
account of the rising awareness programs to educate people about the health
benefits of this healthy tea.
Asia Pacific, on the other hand, would grow
steadily backed by the rising production of organic tea, especially in China.
Coupled with this, the surging discretionary incomes of people would aid growth
in this region. In Europe, the rising demand for premium specialty teas with
authentic and unique flavors would propel growth.
COMPETITIVE
LANDSCAPE-
Key Players
Focus on Introducing Innovative Products to Compete with Their Rivals
The market for organic tea has a moderately
consolidated structure. It is majorly dominated by a handful of multinational
organizations. They are presently focusing on new product launches,
acquisitions, and partnership strategies to compete with their rivals in the
market. Below are the two latest industry developments:
- December
2020: BanLabs
unveiled a new line of organic green tea named the Care Tea basket. It is free
from artificial preservatives and flavors. It has 5 packs of some innovative
flavors that have been launched in India for the first time.
- October 2019: Choice Organic Teas shut down its Seattle headquarters because of its acquisition by Yogi Tea. The company aims to bring flavorful teas in the market by making a positive environmental and social impact.
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