Tea Prices

Tea Prices December 2023

In the fourth quarter of 2023, the price of tea in the United States reached 2145 USD/MT by December. Similarly, in China, the tea prices hit 3292 USD/MT in the same month. Germany also saw tea prices reaching 3591 USD/MT during Q4 2023.

Tea Price Trend, Market Analysis, and News

IMARC's latest publication, “Tea Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the tea market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of tea at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed tea price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting tea pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Tea Market Analysis

The global tea market size reached US$ 24.4 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 37.4 Billion, at a projected CAGR of 4.70% during 2023-2032.

• The primary driver of global tea market is rising consumer awareness regarding the health benefits associated with tea consumption. According to a research article published in Current Pharmaceutical Design, tea is consumed by 2/3 of the global population. Green tea contains 30-42% catechins that exhibits anticarcinogenic effect. Furthermore, black and green tea contain polyphenolic compounds that can prevent cardiovascular diseases (CVDs), especially coronary heart disease and atherosclerosis.  According to the British Heart Foundation, a study revealed that 90% of the tea drinkers consume black tea. Participants who reported consuming two or more cups of tea had a 9% to 13% lower risk of dying from coronary heart disease, stroke and other CVDs.
• The rapid adoption of specialty and premium teas, including exotic blends, herbal, and organic, is further boosting the market growth. This adoption is favored by the amplifying demand for unique flavors and high-quality beverages. According to industry reports, herbal tea market is expected to grow with a CAGR of 4.5% during 2024-2030.
• The demand for sustainably produced tea is escalating due to rising awareness of environmental issues. This demand has prompted producers to shift towards sustainable practices, aiding in market growth. For instance, in June 2024, Assam government, along with Assam Bought Leaf Tea Manufacturers’ Association (ABLTMA), opened an advanced facility called Eurofins Agro Laboratories, a mobile residue testing lab, for sustainable tea production and to ensure safety and quality of tea leaves.
• Moreover, the expansion of ready-to-drink beverage segment is heavily profiting the tea market due to innovations in portable and convenient packaging, along with new flavors. For instance, Goodricketea offers ready-to-drink teas in various flavors, including peach, mojito, strawberry, lemon and novamint, zesty lemon, etc. According to the industry reports, global ready-to-drink tea market is expected to grow with a CAGR of 3.4% during 2022-2028.
• In addition, major tea producing countries like China, India, and Kenya extensively affects the global market dynamics. According to a news article published by NDTV, China produces 2.4 million tons of tea annually, followed by India that produces annual 900 million tons of tea and Kenya with 305 million tons tea production.

Tea News

The report covers the latest developments, updates, and trends impacting the price of tea, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the tea price trend.

Latest developments in the tea industry:

• In October 2023, Twinings, a British tea brand, announced its partnership with Interactive Avenues to expand its e-commerce sales and drive growth across India's biggest marketplaces.
• In March 2024, Hindustan Unilever Limited, one of the biggest tea producers, announced a partnership with TRA (Tea Research Association). This partnership aims to address the challenges posed by climate change on the tea industry. It will involve 19 tea factories/estate and small tea growers across the major tea growing regions of Tamil Nadu, Assam, Kerala, West Bengal, and Karnataka.

Product Description

Tea is one of the most extensively consumed beverages worldwide and is extracted from Camellia sinensis plant. Originated in China, tea has expanded to become a global commodity, intensely rooted in the social and culture fabrics of various societies. Green, oolong, black, and white are the primary varieties of tea that are distinguished by their oxidation levels and processing techniques. Black tea is fully oxidized and is preferred for its strong flavor and elevated caffeine content, while green tea is minimally oxidized and is acclaimed for its delicate taste and health benefits. White tea is the least processed form, offering a delicate flavor whereas oolong tea offers a complex taste profile.

The major producers of tea include India, China, Sri Lanka, and Kenya. Apart from its economic importance, tea is also renowned for its potential health gains. Tea is known to offer antioxidants that have the potential to reduce the occurrence of chronic diseases.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the tea price trend.

Global Tea Price

The report offers a holistic view of the global tea pricing trends in the form of tea price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of tea, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed tea demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Tea Price

European tea prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for tea can also be provided for an extensive list of European countries.

North America Tea Price

The analysis of tea prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific tea historical data within the United States and Canada can also be provided.

Middle East and Africa Tea Price

The report explores the tea pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Tea Price

The tea pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This tea price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Tea Price

The analysis of tea prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of tea pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting tea price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The tea price charts ensure our clients remain at the forefront of the industry.