India Premium Tea Market Expected to Grow at a CAGR of 4.2% in the Forecast Period of 2024-2032, Driven by Rising Economic Growth in the Country

The high penetration of the drink drives the Indian tea industry by socio-economic classes globally. India's steady economic progress and the subsequent rise in the middle-class population are also catalysts for the industry's growth as consumers favour luxury brands. The rising demand for the packaged variety of beverages in urban and rural areas is further helping the tea industry in India due to lower chances of adulteration, fast storage, and superior quality. The rise in the numbers of cafes and lounges and demand from the growing number of office spaces across the country are expected to push the market forward in the forecast period as well.

The market growth is boosted by the growing competition among the key industry players. Cafe chains such as Chai Point have also attracted a large consumer base. Starbucks (NASDAQ: SBUX) also launched a range of 18 fresh tea offerings in 2018, and it launched two new frozen tea versions earlier this year: Teavana Frozen Hibiscus Tea with Pomegranate Pearls.

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Market Analysis by Type, Packaging, Distribution Channel, Application, and Regions:

• The market is segmented into flavoured black teas, green teas, functional botanical blends and herbal blends, probiotic teas, and iced tea, among others.
• In terms of packaging, the market is divided into loose tea, plastic containers, paper boards, aluminium tin, tea bags, among others.
• The market is categorised by distribution channel into supermarkets/hypermarkets, convenience stores, speciality stores, and online, among others. 
• The market is bifurcated on the basis of application into residential and commercial.
• The regional markets can be segmented into North, South, East, and West.

Key Findings of the Report:

• The Indian market for premium tea is driven by the inflating disposable income of the population.
• The market is aided by the growing number of cafes and lounges.
• Improvement in packaging is also a crucial driver of the Indian premium tea market.
• Tea is considered an important part of the Indian food industry, and the population of tea drinkers is high in the country, propelling its demand.

Key Offerings of the Report:

• The EMR report gives an overview of the Indian market for premium tea for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the type, packaging, distribution channel, applications, and regions of premium tea. 
• It gives an in-depth look at the price trends in the Indian market for premium tea.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The key players in the Indian premium tea market include Tata Consumer Products Ltd., Hindustan Unilever Limited, Gujarat Tea Processors & Packers Ltd, Society Tea, and Teaxpress Pvt Ltd, among others. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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