According to the industry analysis 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 MarketStudyReport, global tea market, which amassed a valuation of USD 21.9 billion in 2020, is anticipated to garner sizable returns during 2021-2026.

Growing demand for tea in highly populated countries, surging demand for taste and fragrance in tea among millennials, and increasing number of specialized tea shops selling out-of-home tea products are some of the key factors driving the growth of the global tea market.

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Based on tea type, the market is fragmented in the terms of green tea, oolong tea, black tea, herbal tea, and others. Among these, the black tea segment is estimated to hold the largest market share during the forecast timeline, owing to prime health benefits like antioxidants blocking DNA damage from tobacco and other toxic chemicals.

Moving on to packaging type, the market is bifurcated into cardboard boxes, plastic containers, tin boxes, and paper pouches.

As per the distribution channel, the market is segmented into specialty stores, supermarkets, and online. Among these, the online segment is expected to accelerate global tea market growth over the forecast time spell, primarily attributed to the increasing usage of the internet.

Meanwhile, the supermarkets segment is also estimated to emerge as a key revenue generator for the market participants, owing to increasing purchasing of tea from supermarkets.

Regionally, Asia Pacific tea market is projected to grow exponentially over the review period, on account of increasing tea culture, rising demand for tea by millennials & youth, growing population of the middle-income group, and surging rate of tea production in developing countries such as India and China.

Associated British Foods plc, Nestlé S.A., The Hain Celestial Group, Inc., McLeod Russel India Ltd., Kusmi Tea, Unilever plc, ITO EN Inc., David’s Tea, Tata Consumer Products Limited, and Tea Forte are some of the major companies operating in the global tea market.