Overview:
The global market for organic tea has been predicted to gain prominence from its widespread acceptance as a healthy drink. The organic tea market share is showing the possibility of reaching a valuation of USD 1.3 billion by 2024, with a CAGR of 5.8% during the forecast period of 2019 to 2024. Market Research Future (MRFR) reveals that factors like easy packaging procedure, various health benefits, growing awareness, high acceptance among the younger generation, government initiatives, NGO assistance, and others are expected to boost the global market growth. However, COVID-19 analysis reveals a slump in the market due to issues with logistics. Also, COVID-19 impact on the market was harsh due to lockdowns and unavailability of products.
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Segmentation:
The global organic tea market share has been studied by MRFR experts and segmented in the report by type, form, and distribution channel. These segments are known for their insights and they are backed by data, charts, and graphs.
By type, the study on the global organic tea market share has been segmented on the basis of black, green, and others. The green one is fast becoming a trend as the awareness regarding its health benefits is rising.
By form, the global market study on organic tea has been segmented into dried leaf, powder, and others. The dried leaf segment is known for its substantial market contribution.
By distribution channel, the global organic tea market share includes store-based and non-store-based. The store-based segment incorporates convenience stores, supermarkets and hypermarkets, and others as a part of their study.
Regional Analysis:
North America would take charge of the market as it is getting widely supported by the regional intake. People are aware of the benefits of this product and their high disposable income helps in boosting the regional market growth.
Competitive Landscape:
Associated British Foods plc (UK), Tata Global Beverages Limited (India), Unilever (UK), Bombay Burmah Trading Corporation Limited (India), Vahdam Teas (India), Celestial Seasonings, Inc. (US), Bigelow Tea Company (US), Stash Tea Company (US), Republic of Tea (US), Shangri-la Tea (US), Yogi Tea (US), Harney & Sons Fine Teas (US), Mighty Leaf Tea (US), Numi, Inc. (US), and Hälssen & Lyon GmbH (Germany) are companies impacting the global market for organic tea. These companies are making it possible by constantly developing diverse strategies to ensure better growth prospects. These moves often include mergers, acquisitions, partnerships, innovations, and others. MRFR listed their latest contributions to guess the flow of the market to facilitate further understanding of the market.
Industry News:
In June 2020, Taiwan declared that 2020 would be the year of organic tea. This will help in gaining agreements regarding a common standard of the product to boost various exporting procedures. To support this initiative, the Agriculture and Food Agency (AFA) introduced the first-of-its-kind "Taiwan-tea Assortment and Grading system" (TAGs) to ensure a certification process for all the products.
In India, rose flavor in the organic tea category is getting substantial recognition. The type is known for its rich flavor and multiple health benefits. This tea is rich with antioxidants and can help in leading a healthy life. The tea is a perfect blend of normal organic tea and crushed rose petals. Several brands have already started launching their variants to get hold of the market.
In May 2020, the report got published about China’s interest in the market. The country is taking the market seriously and has started planning gardens accordingly to get a production-wise advantage.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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