Food and Beverages

Green Tea Market is Expected to Reach USD 8,484.9 million by 2030

Mar 2024

Food and Beverages

As per the report published by Kings Research, the global Green Tea Market was valued at USD 5,575.8 million in 2022 and is projected to reach USD 8,484.9 million by 2030, growing at a CAGR of 5.53% from 2023 to 2030.

The green tea market has witnessed significant growth in recent years, driven by increasing consumer awareness of its health benefits and growing preference for natural and organic products. One of the key trends in the market is the rising demand for matcha green tea, which is known for its higher concentration of antioxidants compared to regular green tea. Additionally, there is a growing interest in flavored green teas, such as jasmine and mint, as consumers seek unique and refreshing options. These trends reflect the evolving preferences of health-conscious consumers who are looking for flavorful and nutritious alternatives to traditional beverages.

The growing popularity of matcha green tea can be attributed to its vibrant green color, velvety texture, and earthy flavor. It has become a staple in many health-conscious individuals' diets, as it not only provides a natural energy boost but also aids in detoxification and weight management. Furthermore, the rising demand for flavored green teas showcases consumers' desire for variety and experimentation, allowing them to indulge in new and exciting taste profiles while still reaping the health benefits of green tea. As the market continues to evolve, innovative and exotic flavors are expected to continue to gain traction, thereby offering consumers an increasing array of choices.

Key Insights

  • Based on form, the tea bags segment held the largest market share of 35.62% in 2022
  • Based on flavour, the unflavored segment accounted for 65.68% market share in 2022
  • On the basis of region, Asia-Pacific registered the largest market share of 33.59% in 2022

Tata Consumer Products Introduced New Greet Tea Product in the Market

November 2022: Tata Consumer Products strengthened its wellness portfolio with the launch of a new tulsi-flavored green tea under the Tetley brand.

Growing Popularity of Functional Beverages Green Tea Market Growth

The popularity of functional beverages has been increasing steadily in recent years. This trend has played a significant role in driving the growth of the green tea market. Green tea, known for its numerous health benefits, has become a popular choice among consumers looking for functional beverages that can improve their overall well-being. With its antioxidant properties and potential to aid in weight loss, green tea has captured the attention of health-conscious individuals seeking natural and healthy alternatives to traditional beverages.

In addition, the rising awareness of the harmful effects of sugary drinks has contributed to the surge in green tea consumption. Many consumers are actively seeking alternatives to sugary sodas and energy drinks. Green tea offers a refreshing and flavorful option that not only satisfies their thirst but also provides them with added health benefits. As a result, the green tea market is expected to grow continuously as an increasing number of individuals prioritize their health and well-being.

Increased Significance of Health & Wellness Among Consumers to Boost Green Tea Market Development

Increasing consumer focus on health and wellness has led to significant growth in the green tea market. With rising concerns about the adverse effects of sugary drinks and artificial additives, consumers are turning to green tea as a healthier alternative. This trend is further supported by the growing body of scientific research highlighting the numerous health benefits of green tea, such as its potential to boost metabolism, improve heart health, and even reduce the risk of certain types of cancer. Additionally, growing preference for natural and organic products is contributing to the increased demand for green tea, as consumers seek beverages that are free from harmful pesticides and chemicals. Furthermore, green tea is known for its high antioxidant content, which can help protect the body against oxidative stress and inflammation.

As more people become aware of the potential harm caused by excessive sugar consumption, they are actively seeking beverages that provide a refreshing taste without compromising their health. Green tea fits this criterion perfectly, offering a flavorful and refreshing drink option that is beneficial for overall well-being. The shift toward green tea is not only driven by health-conscious individuals but also by those who are environmentally conscious, as green tea production generally has a lower carbon footprint compared to other beverages.

Europe Emerges as the Second Largest Market for Green Tea, with a Value of USD 2,404.6 Million by 2030

Europe is witnessing significant growth in the green tea market, propelled by the rising awareness among consumers regarding its numerous health benefits. With the increasing spread of information about the antioxidant properties of green tea and its contribution to weight control, the demand for this beverage is growing rapidly in the forecast period. Additionally, the rise of the wellness and fitness industry in Europe has fueled the popularity of green tea, as it is often seen as a natural and healthy alternative to sugary drinks. Furthermore, the growing emphasis on sustainability and eco-friendly products has contributed to the rise in green tea consumption. As a result, green tea has gained a reputation as a "clean" and environmentally conscious drink, appealing to consumers who prioritize both their health and the well-being of the planet.

Market Players Focus on Launching New Products to Gain a Competitive Edge in the Market

The global green tea market is consolidated with significant players such as AMORE Pacific Corp, Arizona Beverage Company, Associated British Foods LLC, Cape Natural Tea Products, Celestial Seasonings, Finlays Beverages Ltd., Frontier Natural Products Co-Op., Hambleden Herbs, Hankook Tea, and Honest Tea, Inc., among others. These companies are concentrating on expanding their business through collaboration and partnership strategies.

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