Oolong Tea Market Analysis, Size, Share 2024
Oolong Tea Market Overview:
Oolong Tea Market is projected to grow at a CAGR over 4.5% during the period 2017- 2023. Increasing sale of oolong tea is driven by rising awareness among the consumers about the health benefits gained from consumption of oolong tea in its chemical-free form. High antioxidant content of oolong tea makes its application more significant in personal care products due to its anti-ageing properties. Increased nutraceutical application of tea has resulted in growth of share in the nutraceuticals industry. Increasing disposable income and economy development has influenced the consumers spending behavior leading to increased expenditure on quality products. All these factors contribute to increased market share of oolong tea globally. The consumption as well as production of oolong tea is found to be high in Asia-Pacific region and is evaluated to increase at a growth rate in various countries of North America and Europe.
Oolong Tea Market Key Manufacturers:
The key players profiled in the Global Oolong Tea Market are ESP Tea Emporium (U.S.), The Republic of Tea (U.S.), Harney & Sons (U.S.), Associated British Foods (U.K.), The Mighty Leaf Tea Company (U.S.), Tata Global Beverages Limited (India), Unilever (U.K.)
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Oolong Tea Market Segments:
Oolong Tea has been segmented based on formulation which include flavored and unflavored. Unflavored oolong tea holds a lion’s share among the formulation based on high demand of tea products without any synthetic additives such as flavorings.
Oolong Tea has been segmented based on form which comprises of loose leaf, powder, tea bags, others. Oolong Tea in the form of loose leaf is found to hold a major share due to high consumer preference for unprocessed natural tea products.
Oolong Tea has been segmented based on application which comprises of food, beverage, personal care, nutraceuticals, others. Beverages hold a high market share followed by nutraceutical-based applications.
Oolong Tea has been segmented based on type which include Guangdong, Fujian, Taiwan, others. Fujian holds a lion’s share among the various type of oolong tea owing to the popularity of high nutritional value of this type of tea.
Oolong Tea Market Regional Analysis:
The Global Oolong Tea Market share is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific holds a major market share followed by North America. High demands for healthy beverages with widespread applications from the developed countries of these regions is contributing to the growth of oolong tea market. U.S., Australia, Canada, France and Saudi Arabia are the major importers of oolong tea.
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