The market for tea and coffee has expanded significantly in recent years. At a compound annual growth rate (CAGR) of 6.8%, it will increase from $117.72 billion in 2023 to $125.75 billion in 2024. The historical period’s growth can be ascribed to rising consumption of tea and coffee, a greater emphasis on ready-to-drink (RTD) beverages, and government initiatives.
In the upcoming years, there is anticipated to be significant growth in the market size for tea and coffee. It will increase at a compound annual growth rate (CAGR) of 6.1% to $159.34 billion in 2028. The rise in the number of coffee shops, rising millennial coffee consumption, and rising investments are all factors contributing to the growth in the forecast period. Throughout the projection period, there will be a strong emphasis on premium goods, the production of organic goods, the use of blockchain technology, and the application of artificial intelligence to raise the caliber of goods.
Throughout the forecast period, the markets for tea and coffee are anticipated to be driven by the rising demand for ready-to-drink (RTD) beverages. A single-use packaged beverage that is ready to drink right away at the time of purchase is called an RTD. Working adults are increasingly favoring RTD drinks because of their convenient packaging and clear labels. The demand for RTD tea and coffee is anticipated to increase due to the addition of new flavors to the lineup, convenience, and portability. The global market for RTD tea and coffee is predicted to grow at a compound annual growth rate (CAGR) of 5.6% to $116.1 billion by 2024, while the consumption of RTD tea alone is predicted to reach 50 billion liters in 2021 at a CAGR of 5.3%. Going forward, the market for coffee and tea is anticipated to be driven by rising demand for RTD beverages, such as RTD tea and coffee.
List of Top 11 Tea/Coffee in India (BSE) based on Net Profit.
| Company Name | Net Profit (Rs. cr) |
| TATA Cons. Prod | 950.07 |
| CCL Products | 167.94 |
| Rossell India | 27.37 |
| Jayshree Tea | 15.95 |
| James Warren | 9.49 |
| Kanco Tea | 7.05 |
| B and A | 5.89 |
| Tyroon Tea | 3.52 |
| Octavius | 1.89 |
| Terai Tea Co | 1.32 |
| Retro Green Rev | 0.43 |
Source: BSE, India, last updated 21 February, 2024
This news is a creative derivative product from articles published in famous peer-reviewed journals and Govt reports:
Reference:
1. Nekrassovski, O. (2011). Globalization and the Coffee Industry.
2. Malladi, P., & Indira, M. (2015). A granger causality analyses on production and export of coffee industry in India. International journal of Advanced Research in Management and Social Sciences, 4(11), 179-189.
3. Kumar, P., Badal, P. S., Singh, N. P., & Singh, R. P. (2008). Tea industry in India: Problems and prospects. Indian Journal of Agricultural Economics, 63(1).
4. Das, P., & Zirmire, J. (2018). Tea Industry in India: Current trends and future prospective. Journal of pharmacognosy and phytochemistry, 7(1), 407-409.
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