Oolong Tea Market Share, Overview, Trends and COVID-19 Analysis Forecast to 2023
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 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.
COVID-19 analysis on Oolong
Tea market trends 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 Oolong Tea market report 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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