Portland, OR, Oct. 13, 2020 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research,the North America green tea leaves industry 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.
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.
In-depth analysis of the COVID-19 impact on the North America green tea leaves Market@ https://www.alliedmarketresearch.com/request-for-customization/6998?reqfor=covid
Covid-19 Scenario
- Despite an increase in demand for green tea leaves to stay healthy and boost immunity, disruption in the supply chain and impact on harvesting activities created a huge supply-demand gap.
- The tea conferences and Global Tea Fair that were held in March 2020 have been postponed due to travel bans and restrictions on social gathering.
- Researchers from various universities such as Institute of Chemical Technology, Mumbai, Indiahave been studying antiviral effects of green tea polyphenols for the treatment of Covid-19 infected patients.
- With lockdown restrictions lifted off, green tea leaves factories have been started with a limited workforce and health & hygiene practices in place.
The report offers a detailed segmentation of the North America green tea leaves market based on type, nature, distribution channel, and country.
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Based on type, the matcha segment contributed to the nearly two-fifths of the total share in 2019, and is estimated to maintain its lead position in terms of revenue throughout the forecast period. Moreover, this segment is expected to grow at the highest CAGR of 7.4% from 2020 to 2027. The report also analyzes segments including sencha, Gyokuro, Longjing, and others.
Based on distribution channel, the supermarket/hypermarket segment accounted for the highest share with nearly two-fifths of the market revenue in 2019, and is projected to maintain its leadership status during the forecast period. On the other hand, the food service segment is expected to witness the highest CAGR of 7.2% from 2020 to 2027.
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Based on country, the U.S. accounted for the largest market share with more than four-fifths of the total share in 2019, and is estimated to maintain its dominant share by 2027. However, market across Mexico is expected to portray the fastest CAGR of 7.7% from 2020 to 2027.
Key players of North America green tea leaves market include Harney And Sons, ChachaMatcha, Matchabar, Mizubatea Co., Matchaful, Encha, Kettl Tea, AiyaMatcha, Hibiki-An, ITO-EN, MariageFreres, In Pursuit Of Tea, and Rishi Tea.
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