Jan 24, 2020 (Xherald via COMTEX) -- The report " Global Tea Market, By Product Type (Black Tea, Green Tea, Fermented Tea, Herbal Tea, and Others), By Distribution Channel (Hypermarket/Supermarket, Specialist Retailers, Convenience Stores, Foodservice Channels, and Others), and Region - Global Forecast to 2029″ Global tea market is projected to grow from US$ XX billion in 2019 to US$ XX billion by 2029. Tea acts as a stimulating agent along which improves mental and physical health in turn increases demand for tea across the globe drives the global tea market. Further, tea has excellent properties such as ant-cariogenic, anti-microbial, anti-inflammatory, and anti-oxidant is boosting the target market.
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For instance, in April 2017, Tata Global Beverages entered into the business of Ready to Drink tea segment with the introduction of green tea based drink led by Tata Tea in India and Tetley in Canada.
Key Market Insights from the report:
The global tea market accounted for US$ XX billion in 2019 and is projected to register a moderate CAGR of XX% over the forecast period. The market report has been segmented on the basis of product type, distribution channel, and region.
By product, the global tea market bifurcated into black tea, green tea, fermented tea, herbal tea, and others.
By distribution channel, the global tea market is bifurcated into hypermarket/supermarket, specialist retailers, convenience stores, foodservice channels, and others.
By region, Asia Pacific tea market is expected to account for major share in terms of revenue in the global tea market over the forecast period followed by other regions. This can be attributed to rising awareness regarding health benefits of tea among individuals, coupled with tea has excellent anti-aging property in turn rising demand for tea in countries such as India and China of the region.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on "Global Tea Market", By Product Type (Black Tea, Green Tea, Fermented Tea, Herbal Tea, and Others), By Distribution Channel (Hypermarket/Supermarket, Specialist Retailers, Convenience Stores, Foodservice Channels, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029
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The prominent player operating in the the global tea market includes Starbucks Corporation, Twining Crosfield and Company Ltd, Tata Global Beverages Limited, Unilever PLC, Orientis Gourmet SAS, Unilever Overseas Holdings Limited, Associated British Foods Plc, Wissotzky Tea (Israel) Ltd., Starbucks Corporation, and Nestle S.A.
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