Tea Market – Most Consumed Beverage In The World

The factors that drive the tea market growth include health benefits associated with consuming tea and rise in fitness concerns among people in different regions. The additional facts that support the growth of the market include increase in café culture, rise in disposable income, change in tastes of people, and innovation of tea via introducing additional healthy ingredients. However, increase in cost of raw materials due to unpredictable weather, high cost of production, and increase in trend of coffee consumption are expected to hamper the growth of market during the forecast period. Rise in tea demand from health-conscious young population and frequent introduction of new flavors & variety are expected to provide numerous opportunities for expansion of the Tea market.

The global tea market was valued at $55,144 million in 2019, and is projected to reach $68,950 million by 2027, registering a CAGR of 6.6% from 2020 to 2027.

The trend for specialty or organic tea such as green tea and herbal/fruit tea is witnessing an upsurge, whereas ordinary black tea market is stabilizing. Customers are more aware towards the health effects of their food, thus shifting towards organic products.

The green tea segment was the highest contributor to the market, with $16,362 million in 2019, and is estimated to reach $26,110 million by 2027, at a CAGR of 9.8% during the forecast period. China is one of the prominent regions in the market that accounted for a sizeable share of the total market in 2019.

Tea is one of the most popular beverages, usually made via brewing or boiling of dried Camellia Sinensis plant leaves. The two prominent types of tea include black tea, widely consumed in western nations, and green tea, common in Asian countries. Tea care & husbandry management comprises proper site selection and several carefully maintained steps, which include permanent source of water, proper shelter, free draining soil with pH ranging from 5 to 5.8, and stringent regulations towards the amount of pesticides applied on plantations. Presently, the commercial consumption of tea is increasing, thus bridging the gap between out-of-home tea and coffee consumption. China and India are the major tea producing countries consisting of key players in the global market.

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The report segments the global tea market on the basis of type, packaging, distribution channel application and region. Based on the type, the market is divided into green tea, black tea, oolong tea, fruit/herbal tea, and others. On the basis of packaging, it is fragmented into plastic containers, loose tea (packets & pouches), paperboards, aluminum tins, and tea bags. By distribution channel, it is categorized into supermarkets/hypermarkets, specialty stores, convenience stores, online stores, and others. Applications covered in the study include residential and commercial. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the tea industry include Associated British Foods Plc., Barry’s Tea Limited, Hain Celestial Group, Inc, ITO EN, Ltd., Mcleod Russel India Limited, Nestle S.A., TaeTea, Tata Global Beverages, The Republic of Tea, Inc., And Unilever Group.

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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

The Rising Cyber Weapons Market Forecast, 2021-2031

Allied Market Research published a report, titled, “Cyber Weapons Market by Type (Defensive, Offensive), by Application (National Defense System, Public Utility, Automated Transportation system, Smart Power Grid, Industrial Control System, Financial System, Communication Network, Others), by End User (Government, BFSI, Corporate, Other): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global cyber weapons market was valued at $9.2 billion in 2021 and is estimated to generate $23.7 billion by 2031, witnessing a CAGR of 10.1% from 2022 to 2031.

The use of cyber weapons has grown significantly as the U.S. attempts to develop new tools and capacities for national security and defence. The National Security Agency (NSA) and Cyber Command are at the center of the American government’s significant investments in the creation of cyberweapons. The development of cyber weapons has been fueled by both the rise in reliance on digital infrastructure and the threat of cyberattacks from other countries, criminal groups, and other entities. The U.S. government accessed crucial data from other countries using cyber weapons.

According to Interesting Engineering, in September 2022, the U.S. National Security Agency’s (NSA) cyber-warfare unit used 41 different types of weapons to steal critical technology data from a Chinese space and aviation university. This data included the configuration of critical network equipment, network management information, and critical operational information. Specific information regarding their creation and use is not made available to the general public because the use of cyber weapons by the U.S. is highly classified. Also, it is evident that cyber weapons have grown in importance as a tool in the U.S. national security strategy, which has fueled the growth of the cyber weapons business in the country.

On the basis of application the global cyber weapons market, is segmented into national defense systems, public utility, automated transportation systems, smart power grid, industrial control systems, financial systems, communication networks, and others. The development of international trade and the improvement of living standards have been facilitated by transportation infrastructure. Communities all over the world are connecting more than ever because of huge advancements in the flow of people and things. Yet, the presence of various control systems and auxiliary systems is increasing the interconnection and complexity of transportation networks.

The use of communications and IT has increased the effectiveness and functionality of transportation networks, but it has also raised the possibility of vulnerabilities. Attacks using cyber weapons on transportation networks can take a variety of shapes and have a range of possibilities and outcomes. A popular attack method that overburdens the system and causes a denial-of-service (DoS) for the entire system is traffic redirection to the server. A different type of cyber weapon effect is the theft of personal information, which can result in the displacement of expensive and/or dangerous commodities like explosives, radioactive agents, chemical, and biological chemicals, which is problematic for the transportation industry. Terrorists might utilise these materials, if they were stolen, to make bombs and other deadly weapons. Automated transportation systems that integrate cyber weapons are used to prevent or respond to such incidents, which supports the market’s growth.

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