According to the research report titled ‘Global Tea Market (2021 Edition) - Analysis By Type (Green, Black, Oolong, Herbal, Others), Packaging Type, Distribution Channel, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with Market Study Report LLC, global tea market size was valued USD 21.9 billion in 2020 and is anticipated to expand with a healthy growth rate over the forecast period 2021-2026.
 

As per the report findings, global tea market is majorly driven by mounting demand from high populated countries like India and China, shifting consumer preferences from black tea to various flavored tea, and rising number of specialized tea shops.
 

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Based on type, the market is split into black tea, green tea, oolong tea, herbal tea, and others. Of these, black tea segment captures majority industry share and is likely to follow a similar trend over the analysis period. This can be attributed to its high antioxidant content that block DNA damage associated with tobacco or other toxic chemicals. Moreover, the antioxidants present in black tea vary from those in fruits and vegetables, and can provide additional health benefits.
 

Considering distribution channel, worldwide tea industry is fragmented into specialty stores, supermarkets, and online. Among these, the demand from supermarkets is comparatively higher than others, however, rising internet penetration is driving customer attention towards online platforms.
 

From a geographical perspective, North America (U.S., Canada), Europe (U.K., Germany, Spain, Italy), Asia Pacific (India, Japan, China), and LAMEA are the major growth avenues for businesses in this domain.
 

Experts claim that APAC industry is touted to grow at a robust pace through 2026, attributable to prevalence of large tea consuming culture and escalating demand from millennials in the region. Further, expanding middle-income population and strong presence of key players are supporting the regional market expansion.
 

With respect to the competitive landscape, Tea Forté Inc., Kusmi Tea, Tata Consumer Products Ltd., McLeod Russel India Ltd., DavidsTea Inc., Hain Celestial Group Inc., Ito En Ltd., Nestlé S.A., Unilever plc, and Associated British Foods plc are the major players influencing global tea industry dynamics.
 

Industry players are actively engaging product innovation and R&D activities in terms of taste and fragrance, to expand their offerings and amplify profits. Further, they are also investing in heavily in marketing and distribution to gain a competitive advantage.