the global Green Teas market was valued at $2,145.00 million in 2016, and is projected to reach at $3,175.04 million by 2023, growing at a CAGR of 5.60% from 2017 to 2023.
Green tea is prepared from the Camellia sinensis plant. The leaf buds and dried leaves of the Camellia sinensis plant are used in the preparation of the green tea. It is prepared by pan-frying and steaming these leaves followed by drying them. Green tea is generally produced through enzymatic hydrolysis technique. Green tea is known to be beneficial against various health issues such as depression, various types of cancers such as lung cancer, liver cancer, colon cancer, gastric cancer, and many others. Some of the scientific studies have also proven that the consumption of green tea is beneficial in enhancing the thinking skills and also is helpful in lowering cholesterol and triglycerides in the body. In 2018, Asia Pacific region holds the largest share in the global green tea market. The largest market share of the Asia Pacific region is primarily attributed to changes in lifestyle patterns of consumers and preference toward healthy and natural food products.
The demand for green tea is expected to increase in the region with the growing awareness of the health benefits attributed with the consumption of green tea. The green tea manufacturers are expanding their production activities in developed countries such as China, India, Japan, and South Korea so as to meet the rising demands of green tea in the region which is further expected to expand the growth of the Green tea market in the region.
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The contract manufacturing market for biologics is growing at an unprecedented rate owing to increasing biologics pipeline, manufacturing complexity, and companies shifting their focus towards core activities. The outsourcing is required to expedite research and development, speed up market entry, give access to novel technologies, regulatory expertise, and reduces risks at a competitive cost. Complexities in biologics development and production and increasingly stringent quality standards have driven drug manufactures to prefer contract manufacturer services.
A significant boom has been witnessed in the contract manufacturing of biologics. This can be attributed to difficulties in the production of a large-scale biologics in house. For instance, Sanofi has outsourced the manufacturing of its biologics pipeline to Boehringer Ingelheim. Many companies are opting CMOs services to speed up the development process and lower production costs. Also, due to the growing demand for biologics, Rentschler is looking to expand globally, adding a new facility to its site in Laupheim, Germany, to expand its capacity. It invested about €24 million to add two 3,000-liter stainless steel bioreactors, more than doubling its capacity. Thus, increasing demand of biologics is expected to drive the growth of the in Europe during the forecast period.
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US is anticipated to leads the Green Tea market across the Asia Pacific region through the forecast period. The growth in SIEM in the U.S. is mainly driven by factors which includes its state of being one of the best internet connected countries in the world, with around 85% of its population using internet in 2018; in addition, the country is also ranked second globally for online B2C transactions; and, the ever-increasing cybercrime costs that had reached $100 billion in the US in 2014, which is nearly one-fourth of the $445 billion, all these aspects are owing to significant growth of SIEM market. This will further propel the growth of manufacturing industry in the country thereby, accelerating the growth of Green Tea market in the U.S.
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ASIA PACIFIC GREEN TEA MARKET SEGMENTATION
Asia Pacific Green Tea Market, by Type
Green tea bags
Green Tea Instant Mixes
Iced Green Tea
Asia Pacific Green Tea Market, by Flavour
Asia Pacific Green Tea Market, by Distribution Channel
Supermarket and Hypermarkets
Asia Pacific Green Tea Market, by Country
Rest of APAC
Kirin Holdings Company
Associated British Foods plc.
Nestle, Hankook Tea
Tata Global Beverages
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