Organic Tea Market Trends, Business Outlook 2023, Expanding Current Industry Status by Top Most Players
The market is expected to have a market share of US$ 2.69 billion by 2033 while it is likely to be valued at US$ 1.24 billion in 2023. The organic tea market is anticipated to expand its roots at a steady CAGR of 8.0% between 2023 and 2033.
- Increased demand for organic products along with the growing trend of consuming organic beverages such as matcha, herbal tea, and organic tea. Furthermore, the higher production, import, and export of organic tea are also garnering market growth.
- The higher healthcare benefits through the oxidants present in herbal tea promote strong immunity and gut health and balance the good bacteria in the body. Alongside this, the new clean label packaging along with the tea bag boxes are enhancing the supply chain of the organic tea market.
- Higher consumption of organic back tea in India and organic and herbal tea in China are proliferating the growth rate due to the higher population and global health trends. The impact of globalization on the import of premium tea is also flourishing the demand for organic tea.
- The growing popularity of herbal, green, and organic tea for weight loss, and anti-cancer properties is flourishing the market growth. Moreover, the new e-commerce channels are promoting discounts and varieties of organic tea. The competitors also promote their products like this.
Key Points
- The United States market leads the organic tea market in terms of market share in North America. The United States region held a market share of 21.3% in 2022. The growth in this region is attributed to aware citizens, higher production, and exports.
- United Kingdom’s organic tea market is another significant market in the European region. The market thrives at a CAGR of 5.9% between 2023 and 2033. The growth is attributed to the higher tea imports from India, cultural significance, and higher tea-consuming population.
- The Indian organic tea market thrives at a leading CAGR of 25.4% during the forecast period. The market’s growth is attributed to the leading tea production coupled with the presence of leading tea companies.
- Chinese organic tea market also thrives at a CAGR of 2.9% between 2023 and 2033. The growth is attributed to the large tea-consuming population.
- Based on packaging type, the tea bags segment holds the leading market share.
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Competitive Landscape
The key vendors work on clean-label packaging that describes the organic benefits. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.
Recent Market Developments
- The Republic of Tea has introduced its new organic double matcha, organic single sips, and organic dandelion super herb tea bags. In addition to these, the company has also tried its hands at the production of herbal tea like organic turmeric ginger tea bags and organic mint fields tea bags.
- Yogi tea has added innovative organic tea cakes such as chamomile lavender tea that come with exotic and fresh flavors.
Information Source: https://www.futuremarketinsights.com/reports/organic-tea-market
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