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1 Market overview
1.1 Definition and presentation
Three billion cups of tea are consumed every day, making it the second most consumed beverage in the world after water. Tea was born in China, introduced to Japan in the end of the 8th century, is an integral part of British culture, and also has a strong presence in the culture in the Middle Eastern.
Tea derives from the leaves of the tea plant (about 200 species) whereby it is infused in hot water. There are different types of teas (black, green, Oolong, yellow, white and post-fermented) which differ according to the treatment of the harvested leaves. Rooibos or "red tea" is actually an infusion obtained from the leaves of Aspalathus linearis, which is only found in South Africa, and not from the tea plant.
The global tea market is projected to be worth around $73 billion in 2024. Africa and Middle East had the largest trade flows in the world, followed by Asia, Europe, and North America. A survey showed that the 24 to 35-year-old segment in the UK is the largest growing consumer category. Moreover, the main revenue driver of tea will be in relation to perceived health benefits.
Key players in the industry include Associated British Foods, Hain Celestial, ITO EN, Tata Global Beverages, and Unilever.
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the tea market | United Kingdom
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