The South America tea market size is projected to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the premiumization of tea products.
Tea is produced by steeping the tea powder or leaf buds of the tea plant, also known as camellia sinensis, in freshly boiled water. Tea was introduced in China in 2700 BC. For centuries it was a medical beverage and in around third century it became a daily drink.
In 1824, tea cultivation was found in the slopes, along the outskirts of Burma and in Assam, a state of India. The British brought tea culture into India in 1836 and into Ceylon (Sri Lanka) in 1867. Earlier, they utilized seeds from China; however, later seeds were used from Assam. The Dutch East India Company conveyed the principal transfer of tea from China to Europe in 1610. In 1669, the English East India Company brought tea from ports in Java to London. By 19th Century, the tea market had spread to Georgia, Sumatra, and Iran and further reached out to non-Asian nations such as Natal, Uganda, Malawi, Brazil, Argentina, and Peru in South America.
Market Trends, Drivers, Restraints, and Opportunities
- Growing awareness regarding medicinal benefits of tea is one of the key factors contributing to the market growth.
- Increasing demand for speciality tea is expected to drive the market growth during the forecast period.
- Expansion of food service channels is estimated to facilitate the market development in the coming years.
- Lack of proper knowledge about tea cultivation process can hinder the market development.
- Rising demand for herbal tea can create lucrative opportunities for market players in the region.
Key Players
- Dilmah Ceylon Tea Company PLC.
- Hain Celestial
- Palais des Thés
- Unilever
- The Wiltshire Tea Company
Competitive Landscape
Key players competing in the South America tea market are Dilmah Ceylon Tea Company PLC.; Hain Celestial; Palais des Thés; Unilever; and The Wiltshire Tea Company. Some of the key players focusing on new product and flavor development and also focusing on increasing their quality standards.
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