Market Overview:
According to the report published by Allied Market Research,the North America green tea leaves market generated $1.19 billion in 2019, and is estimated to garner $1.51 billion by 2027, witnessing a CAGR of 6.8% from 2020 to 2027.
The report offers anextensive analysis of changing market dynamics,market estimations, top investment pockets, key segments, Porter’s Five Forces, and competitive scenario.
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Segment Overview:
- Matcha
- Sencha
- Gyokuro
- Longjing
- Others
- Organic
- Conventional
- Supermarkets/Hypermarkets
- Specialty stores
- Food service
- Others
Green tea is well-known for its health benefits; thus, consumers in North America are increasingly adopting this beverage to stay fit and maintain healthy body composition.
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Increase in awareness regarding health benefits of green tea, expansion of the retail sector, and need to avoid obesity drive the growth of the North America green tea leaves market. However, variations in raw material prices and surge in coffee consumption hinder the market growth. On the other hand, decline in demand for carbonated drinks creates new opportunities in the coming years.
The growth of the green tea leaves market is driven by health benefits associated with consuming tea and rise in fitness concerns among people in different regions. The additional facts that support the growth of the market include increase in café culture, rise in disposable income, change in tastes of people, and innovation of tea by introducing additional healthy ingredients. However, increase in cost of raw materials due to unpredictable weather, high cost of production, and increase in trend of coffee consumption are expected to hamper the growth of the market during the forecast period. Rise in tea demand from health-conscious young population and frequent introduction of new flavors & variety are expected to provide numerous opportunities for the North America green tea leaves market growth.
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Key players of North America green tea leaves market:
Harney And Sons
ChachaMatcha
Matchabar
Mizubatea Co
Matchaful
Encha
Kettl Tea
AiyaMatcha
Hibiki-An
ITO-EN
MariageFreres
In Pursuit Of Tea
Rishi Tea
Key findings of the study
- Matcha segment is projected to witness the highest CAGR of 7.4% in revenue terms during the forecast period.
- On the basis of nature, the conventional segment is expected to dominate the market in 2027.
- Supermarket/hypermarket segment occupied maximum value share in 2019, and is expected to grow at the significant CAGR during the forecast period.
- U.S. is the largest country in terms of demand and production of tea in the North America green tea leaves market.
- Gyokuro is anticipated to witness the second highest CAGR of 7.1% from 2020 to 2027, in value terms.
