Market Outlook
As per Market Research Future (MRFR), the global oolong tea market is estimated to garner a revenue of USD 463.86 million, with a CAGR of 4.20 % from 2022 to 2028 (forecast period). The report assesses major players, including a five-year global market evaluation that highlights market growth. The analysis provides a forecast of market opportunities for each region over the next five years. The report also includes a detailed overview of the impact analysis of the Covid-19 by type, application, and regions.
Oolong tea is a type of oolong tea market size that originates in China. It is a semi-oxidized tea made from the leaves of the camellia sinensis plant. It provides the qualities of both black tea and green tea, and thus emerges as a beneficial functional beverage. Growth in the global market for oolong tea is driven primarily by evolving customer preferences for healthy and functional food and beverages and increasing health concerns. Oolong tea is also used in several nutraceutical products due to its health benefits derived from multiple antioxidants present in it. These include theaflavins, thearubigins and EGCG, and the amino acid theanine.
Market Dynamics
Consumption of oolong tea market helps in preventing diabetes, improve heart health, weight management, strengthen teeth and bones, enhance neural and brain function, relive eczema, and others. However, the market is experiencing challenges in its growth due to the regional availability of oolong tea, leading to a high dependence on imports on the various country-level markets. Moreover, the lack of understanding of the benefits of oolong tea consumption in various developing and least developed countries hinders the growth of the oolong tea industry.
Market Segmentation
The global market for oolong tea market has been segmented based on form, flavor, and distribution channel.
Based on form, the global market for oolong tea market has been classified into loose-leaf, powder, tea bag, and others.
Based on flavor, the global market for oolong tea market has been divided into flavored and plain.
Based on the distribution channel, the global market for oolong tea market has been segmented into store-based, and non-store-based. The segment for store-base is further divided into supermarkets & hypermarkets, convenience stores, and others.
Regional Analysis
Regionally, the global market for oolong tea market report has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
The Asia Pacific is projected to dominate the global market for oolong tea over the review period due to the high production and consumption of oolong tea in Japan, China, and India. China accounts for about one-third of the world's tea intake.
Nevertheless, there is an increasing oolong tea market overview’s for natural food products and beverages in developing countries in North America and Europe. The demand for oolong tea in North America is expected to post the highest CAGR during the forecast period. Countries like Australia, France, Canada, the United States, and Saudi Arabia are major import markets of oolong tea.
Key Players
Some of the significant participants in the global key oolong tea market players are ESP Tea Emporium (US), Harney & Sons (US), Hain Celestial (US), Associated British Foods (UK), The Republic of Tea (US), Tata Global Beverages Limited (India), Unilever (UK), The Mighty Leaf Tea Company (US), ITO EN (Japan), Ceylon Organic Ltd (Canada), Bigelow Tea Company (US), Teas and Thes (China) Ltd (China), and Arbor Teas (US).
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