Oolong Tea Market Current Scenario | Size, Value Share, Emerging Trends, Global Demand, Key Players and Forecast to 2024
Oct 9, 2019
Oolong Tea Market Global Research Report by Form (Loose Leaf, Powder, Tea Bag, and Others), Flavor (Flavored and Plain), Distribution Channel (Store-Based and Non-Store-Based), and Region (North America, Europe, Asia-Pacific, and RoW)– Forecast till 2024
pune, India - October 9, 2019 /MarketersMedia/ —
Market Overview
Global Oolong Tea Market is widely preferred for its aromatic tastes and health benefits. Changing consumer choices and shifting focus towards functional and healthy food and beverages, growing prevalence of health issues such as low immunity, obesity, and others. Oolong tea is highly demanded owing to its diverse applications in nutraceuticals products as it has various antioxidants content such as amino acid theanine, thearubigins, EGCG, and theaflavins.
Rising consumption of oolong tea for cardia conditions, neural and brain function, diabetes, strengthening of bones and teeth, and eczema is creating opportunities in the global market. The global oolong tea market is also witnessing obstacles in its growth owing to high dependence on country-level regional market for imports. People are steadily gaining information about the benefits of oolong tea consumption in developing markets. However, this sluggish adoption trend in emerging and undeveloped regions is restraining the growth of the global oolong tea market. Producers are more inclined towards the development of diverse oolong flavors to attract a large consumer base and sustain current customers by staying in sync with their preferences. Growing penetration of e-commerce industry, simplified product availability, and expansion of delivery networks by the players are some of the reason driving the growth of the global oolong tea market.
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Consumers shifting their focus on tea beverage product and not just limiting tea products and inclination towards the convenient style of tea consumption is creating a huge demand for the oolong tea products. Introduction of special store that offers premium and organic tea products with various delicacies is expected to create a huge competition in the market. The popularity of different flavors depends on the drinking and eating trends; thus, a major shift in the consumption pattern is uplifting the growth of the global oolong market.
Availability of substitute products at low prices is one of factor impacting the growth of the global oolong tea market.
Major Players
The global Oolong Tea Market is driven by major tea producer and processing companies. This includes The Mighty Leaf Tea Company, Harney & Sons, ESP Tea Emporium, Bigelow Tea Company, Teas and Thes (China) Ltd, Arbor Teas, Tata Global Beverages Limited, and Hain Celestial. Industry players are aggressively focusing on acquisitions and mergers to acquire a major part in the global market. More startups and SMEs bringing their organic tea offerings has uplifted the growth of the global oolong tea market.
Recent Updates
Bama Tea Co. Ltd took part in “Fresh Fujian - Colorful Tea" conference held in India to show a wide variety of product offerings specifically Tieguanyin. Tea experts of Bama Tea also served their guests with a performance in the conference. The event organizers had invited business leaders, overseas Chinese VIPs, tea industry experts, and local Chinese-funded institutions to make aware of the Chinese tea culture and its beauty.
Market Segmentation
The global oolong tea market is majorly classified into based on form, flavor, distribution channel.
The form segment is bifurcated into tea bags, loose-leaf, powder, and others.
Based on the flavor, the global oolong tea market is divided into plain and flavored.
Further, based on the distribution channels, the global oolong tea market is segmented into convenience stores, supermarkets, hypermarkets, and others.
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Regional Outlook
The Asia Pacific region is predicted to influence the global oolong tea market during the forecast period due to high consumption and production in China, India, and Japan. China alone holds one-third of global tea consumption. Growing awareness about the tea benefits through various internet source is majorly driving the growth of the global oolong tea market.
The North American oolong tea market is anticipated to show noteworthy growth amid the forecast period. Some of the major importers of oolong tea are France, Saudi Arabia, Australia, the US, and France. On the other hand, drastically growing demand for food and beverages in the well-established regions such as Europe and North America is also fueling the demand for oolong tea products.
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