Green tea has been a big tea topic in the U.S. for several years with discussions of its potential health benefits, rising interest in cold steeping techniques, its culinary uses, and, of course, the recent matcha craze. Research and Markets, a large-scale market research provider based in Ireland, has just released its latest report that aims to make some projections about the drink’s future.
“Green Tea Market: Vendor Landscape, Strategies and Forecast 2015-2019” predicts a volume growth of 7.65% CAGR (Compound Annual Growth Rate). The value increase is projected at 8.05% over that same four year term.
The greatest area for growth will likely come from “premiumization,” the report suggests. Focusing on better quality through all stages of tea growth, production and packaging, will lead to the largest gains. The gains are predicated on the belief that there will be disposable incomes grow over this period. Women will also be a major driver of growth, with a heavy focus on tea’s health benefits.
A challenge to the industry will be price point. The higher cost of green tea as compared to other teas will be a challenge to overcome, especially with renewed focus on premium level tea.
The Research and Markets report covers the Americas, APAC (Asia-Pacific, including China, India, Japan and Korea) and Europe.
More information about the report is available through Research and Markets.