Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the White Tea market.
Trusted Business Insights presents an updated and Latest Study on White Tea Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the White Tea market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Industry Insights, Market Size, CAGR, High-Level Analysis: White Tea Market
The global white tea market size was estimated at USD 1.48 billion in 2018. Increasing importance these products due to their antioxidant and antimicrobial properties which boost immune system, is expected to have a positive impact on the market. White tea can reduce the occurrence of cardiovascular diseases and oral bacteria, hence it also finds application in pharmaceuticals industry.
Flavonoids in white tea can help reduce the prevalence of obesity, diabetes, and heart diseases among others. Its benefits for weight loss are anticipated to attract a large number of consumers, which in turn is poised to fuel the market growth. According to the report published by the World Health Organization (WHO), diabetes was considered as the seventh leading causes of death in 2016. According to the Cancer Prevention Research Journal, white tea extract can accelerate death of certain lung cancer cells.
It is recommended that moderate consumption of white tea beverages helps reduce anxiety and increase energy levels. Changing diet patterns along with hectic workstyle among adults in emerging economies including China and India is projected to drive the demand for white tea as a health drink in near future.
China, India, Kenya, Sri Lanka, and Vietnam among others are the leading producers of white tea. Slow adoption of these products in the abovementioned countries as a result of predominant consumption of black and green tea, is expected to have a negative impact on the white tea market growth. Majority of these countries export white tea products to the developed countries of North America and Europe.
Product Insights of White Tea Market
Conventional products held the largest market share of 88.4% in terms of revenue in 2018. These products are cost effective and are available with different subtle, mild, and delicate flavors including fruity and floral flavors, such as melon, grassy, peach, apricot, vanilla, honey, herbs, chocolate, and citrus. Furthermore, low price and easy accessibility of the products through various offline channels including supermarkets and grocery stores is expected to drive the conventional product segment over the forecast period.
Organic product segment is expected to witness the fastest CAGR of 7.5% from 2021 to 2026. Rising concerns regarding the accumulation of hazardous levels of fluorides and harmful chemicals in conventional products is anticipated to drive the growth of the segment in near future.
Application Insights of White Tea Market
Beverages held the largest market share of 77.7% in terms of revenue in 2018. Presence of high antioxidant content, which helps to fight off free radicals and counteract oxidative stress to cells, is expected to promote the use of white tea in various beverage formulations. Furthermore, rising preference for using beverages as the convenient medium for consuming nutrition is expected to promote the demand for white tea beverages.
Cosmetics and toiletries is expected to witness the fastest CAGR of 7.4% from 2021 to 2026. Skin soothing and antioxidant properties of white tea are anticipated to boost its usage in skin care products. Some of the famous white tea-based skin care brands include Korres Natural Products, Giovanni Cosmetics, and Kiss My Face among others. Leading hospitality companies including Marriott International, Inc. provide premium white tea toiletry products to their customers. They supply white tea formulations in the form of candles, room fresheners, and oil and scent diffusers. In June 2017, Plum Goodness launched a range of skin care products made using white tea.
Regional Insights of White Tea Market
Europe accounted for a 39.1% market share in terms of revenue in 2018. Rising consumer awareness regarding health and personal grooming, in developed economies including U.K. and Germany is anticipated to fuel the growth. Furthermore, the purchasing power of the region is very high, where consumer prefer spending on premium products. In March 2019, KUSMI TEA and SPECIAL.T jointly launched white tea capsules. The product will be available across France, Belgium, Switzerland, Austria, and Luxembourg. U.K. was one of the key regional markets with a market revenue of USD 83.33 million in 2018.
Asia Pacific is expected to register the fastest CAGR of 7.6% from 2021 to 2026. Changing consumer behavior and growing disposable income, especially in developing countries such as China and India is expected to remain a favorable growth driver. Rapid rise of online distribution channels as well as increasing health awareness among consumers is projected to further fuel the regional product demand in the forthcoming years.
Market Share Insights of White Tea Market
The market is competitive in nature with the presence of many private level brands. Some of the major companies operating in this market are Digicommerce Solutions LLP.; Zhejiang Tea Group Co. Ltd.; Changsha Botaniex Inc.; Dilmah Ceylon Tea Company PLC.; Shaanxi Iknow Biotechnology Co. Ltd.; Carrubba Inc; Wollenhaupt; Arihant Tea Company; Lanzhou Waltlets Biotech co. Ltd; Solanki Tea Co. Private Limited; and Subodh Brothers Pvt. Ltd.
The companies compete on the basis of product differentiation and new product launches. In January 2019, Unilever launched Dove Go Fresh apple and white tea antiperspirants with 48 hours of sweat protection features.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of White Tea Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global white tea market report on the basis of product, application, and region:
Product Outlook (Revenue, USD Million, 2019 – 2030)
Application Outlook (Revenue, USD Million, 2019 – 2030)
Cosmetics & Toiletries
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