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Green Tea Market

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The global green tea market size


 is

projected to reach USD 23.66 billion by 2027, exhibiting a CAGR of 8.0% during

the forecast period. Increasing research into the potential benefits of this

tea in fighting the coronavirus is expected to open new avenues of expansion

for this market, finds Fortune Business Insights™ in its report, titled “Green

Tea Market Size, Share & COVID-19 Impact Analysis, Form (Tea Bags, Loose

Leaves, Loose Powder, Ready-to-drink, and Capsules & Tablets), Flavor

(Flavored and Unflavored), Distribution Channel (Supermarkets/Hypermarkets,

Convenience Stores, Specialty Stores, and Online Retail) and Regional Forecast,

2020 – 2027”. 


With the COVID-19 vaccine still being developed,

medical researchers are intensely engaged in finding alternative cost-effective

treatment and prevention methods to curtail the spread of the coronavirus. This

tea has emerged as a promising disease-fighting mechanism owing to its natural

detoxifying properties and chemicals. For example, according to researchers

from the Indian Institute of Technology, Delhi, extracts from green and black

tea have antiviral properties and can destroy the protein structure of the

virus. Similarly, the UPASI Tea Research Institute in Tamil Nadu has

collaborated with the Tea Board of India to investigate the antiviral potential

of Theaflavins-3, a compound commonly found in catechins in green tea, for

controlling the coronavirus. Thus, a growing body of research exploring the

possibility of fighting COVID-19 with green tea consumption will support the

growth of this market.



Restraining Factor




Damaging Effects of Climate Change on

Tea Production to Hamper Market Growth




The green tea market growth is expected

to major hurdles created by the adverse effects of climate change and global

warming. According to research conducted by Tufts University and the Montana

State University in 2016, changing rainfall patterns across Northeast India and

Southern China, two of the largest tea-producing regions in the world, are

likely to decrease yields from tea farms. A survey conducted by researchers

from these universities in Assam showed that tea farmers in the state are

getting increasingly concerned about the shorter growing season for tea, which

will inevitably affect the quality of the final product. International bodies

are taking measures to tackle the climate-related challenges facing the tea

industry and threatening the livelihoods of several tea-growers.  



For example, in 2012, a Consultation on

Climate Change and Its Implication on the World Tea Economy was held in Sri

Lanka and a Working Group was formed to submit recommendations to deal with the

implications of climate change on tea. The production of this tea is expected

to undergo considerable stress in the next few decades as a result of climate

change, which may hamper the long-term growth prospects of this market.



Regional Insights




Asia Pacific to Tighten Its Hold on the

Market with Increasing Green Tea Production




Asia Pacific, with market size of USD

8.70 billion in 2019, is expected to dominate the green tea market share during

the forecast period on account of the increasing production of this type of tea

in the region. India and China are two of the leading tea producers in the

world and advancements in plantation agriculture in the two countries have

enhanced tea yields in two countries. Moreover, its consumption in China is

extremely high, which further favors the regional market growth.



North America is generating attractive

growth opportunities for market players owing to the rising awareness about the

health advantages of green tea among consumers. The high prevalence of

lifestyle-induced disorders such as obesity and diabetes has also contributed

to the growing popularity of this tea in the region.



Competitive Landscape




Launch of Innovative Flavors by Key

Players to Elevate Market Potential




The green tea market is dominated by

the presence of a few key players and their expansion strategies. The most

preferred among these is the introduction of novel flavors and products for tea

aficionados and capture the increasing health consciousness among consumers.

The aim behind this strategy is to attract more customers and broaden sales

horizons.



Browse Detailed Summary of Research

Report with TOC:




https://www.fortunebusinessinsights.com/industry-reports/green-tea-market-100790