Market Overview
The global Oolong Tea Market share is expected to garner a revenue of USD 463.86 Million by 2027, with a CAGR of approximately 4.20% during the forecast period, 2020–2027. Oolong tea is a type of tea that originated in China. It is a semi-oxidized tea prepared from the leaves of the Camellia sinensis plant. It offers qualities of both black tea and green tea, thus emerging as a beneficial functional beverage. The growth of global Oolong Tea Market share is primarily driven by the changing consumer preference for healthy and functional food and beverages and rising health concerns. Oolong tea is also used in various nutraceutical products due to its health benefits obtained through various antioxidants present in it such as theaflavins, thearubigins, and EGCG, along with an amino acid theanine. Consumption of oolong tea aids in the prevention of diabetes, improve cardiac health, weight management, enhance neural and brain function, strengthen teeth and bones, relive eczema, and others.
Increasing sale of oolong tea is driven by rising awareness among the consumers about the health benefits gained from consumption of oolong tea in its chemical-free form. High antioxidant content of oolong tea makes its application more significant in personal care products due to its anti-ageing properties. Increased nutraceutical application of tea has resulted in growth of share in the nutraceuticals industry. Increasing disposable income and economy development has influenced the consumers spending behavior leading to increased expenditure on quality products. All these factors contribute to increased market share of oolong tea globally. The consumption as well as production of oolong tea is found to be high in Asia-Pacific region and is evaluated to increase at a positive growth rate in various countries of North America and Europe.
Market Forecast
Globally the Oolong Tea Market share share as one of the fastest growing tea variety is estimated to escalate at a higher growth rate which is supported by the rising mass consumer demand for natural and healthy products. Rapid urbanization and increased disposable income has led to consumers’ inclination towards purchase of food and beverages with natural and organic ingredients which also has a positive impact on this market.
Downstream Analysis
Consumption of oolong tea is growing at significant rate based on the health benefits obtained from it. Oolong tea is found to be beneficial for weight management and helps in reducing the cholesterol level of the body. Oolong tea is also being used in personal care products due to its high anti-oxidant content which helps in repairing the skin tissues and imparts anti-ageing properties. Multi-purpose application of oolong tea across food industries had led to increased use of the product. Based on the form, loose leaf is anticipated to hold a major share followed by tea bags.
Application of oolong tea is found to be high in beverages whereas, the growth of nutraceuticals is escalating at a high rate owing to the functional properties of oolong tea. Based on the formulation, unflavored oolong tea dominates the market due to high consumers’ preference for food products with no artificial additives. On the basis of type of oolong tea, Fujian oolong tea dominates the market.
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Competitive Analysis-
The major key players in Oolong Tea Market share are
ESP Tea Emporium (U.S.)
The Republic of Tea (U.S.)
Harney & Sons (U.S.)
Associated British Foods (U.K.)
The Mighty Leaf Tea Company (U.S.)
Tata Global Beverages Limited (India)
Unilever (U.K.)
Oolong Tea manufacturers across various regions follow the strategy of improving their existing product line by adding innovations for their business expansion. Due to this the application of oolong tea is increasing across various industries. In the Asia-Pacific region, China is among the dominating countries holding a major share in Oolong Tea Market share and exports the product in various other countries which include Morocco, China, Vietnam, U.S. and others.
Regional Analysis
The Global Oolong Tea Market share is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific holds a major market share followed by North America. High demands for healthy beverages with widespread applications from the developed countries of these regions are contributing to the positive growth of Oolong Tea Market share. U.S., Australia, Canada, France and Saudi Arabia are the major importers of oolong tea.
Market Segmentation-
Global Oolong Tea Market share is segmented by Form, Type, Formulation, Application and Region
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