Oolong Tea Market Overview: Application, Top Companies, and Forecast 2030
Oolong Tea Market Overview
The global oolong tea market is estimated to garner a revenue of USD 0.4 billion, with a CAGR of 4.2% from 2023 to 2030 (forecast period). The report assesses major players, including a five-year global market evaluation that highlights market growth. The analysis provides a forecast of market opportunities for each region over the next five years. The report also includes a detailed overview of the impact analysis of the Covid-19 by type, application, and regions.
Oolong tea is a type of tea that originates in China. It is a semi-oxidized tea made from the leaves of the camellia sinensis plant. It provides the qualities of both black tea and green tea, and thus emerges as a beneficial functional beverage. Growth in the global oolong tea market size is driven primarily by evolving customer preferences for healthy and functional food and beverages and increasing health concerns. Oolong tea is also used in several nutraceutical products due to its health benefits derived from multiple antioxidants present in it. These include theaflavins, tarbagans and EGCG, and the amino acid theanine.
Key Players
Some of the significant participants in the global oolong tea market are ESP Tea Emporium (US), Harney & Sons (US), Hain Celestial (US), Associated British Foods (UK), The Republic of Tea (US), Tata Global Beverages Limited (India), Unilever (UK), The Mighty Leaf Tea Company (US), ITO EN (Japan), Ceylon Organic Ltd (Canada), Bigelow Tea Company (US), Teas and Thes (China) Ltd (China), and Arbor Teas (US).
Market Dynamics
Consumption of oolong tea helps in preventing diabetes, improve heart health, weight management, strengthen teeth and bones, enhance neural and brain function, relive eczema, and others. However, the market is experiencing challenges in its growth due to the regional availability of oolong tea, leading to a high dependence on imports on the various country-level markets. Moreover, the lack of understanding of the benefits of oolong tea consumption in various developing and least developed countries hinders the growth of the oolong tea industry.
Market Segmentation
The global oolong tea market overview has been segmented based on form, flavor, and distribution channel.
Based on form, the global market for oolong tea market has been classified into loose-leaf, powder, tea bag, and others.
Based on flavor, the global market for oolong tea market has been divided into flavored and plain.
Based on the distribution channel, the global market for oolong tea market has been segmented into store-based, and non-store-based. The segment for store-base is further divided into supermarkets & hypermarkets, convenience stores, and others.
Regional Analysis
Regionally, the global oolong tea market has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
The Asia Pacific is projected to dominate the global market for oolong tea over the review period due to the high production and consumption of oolong tea in Japan, China, and India. China accounts for about one-third of the world's tea intake.
Nevertheless, there is an increasing market for natural food products and beverages in developing countries in North America and Europe. The demand for oolong tea in North America is expected to post the highest CAGR during the forecast period. Countries like Australia, France, Canada, the United States, and Saudi Arabia are major import markets of oolong tea.
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