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Global Tea Bags market to reach $12.9 Billion by 2031
The tea bags market was valued at $6.1 billion in 2021, and is estimated to reach $12.9 billion by 2031,growing at a CAGR of 7.6% from 2022 to 2031.
Players operating in the global tea bags industry have adopted various developmental strategies to expandtheir market share, increase profitability, and remain competitive in the market.
On the basis of type, the black tea segment was the highest contributor to the tea bags market, with $1,619.4 million in 2021, and is estimated to reach $2,673.5 million by 2031, at a CAGR of 4.9% during the forecast
period. Growth of the black tea segment is driven by rise in number of tea drinkers across the globe.
According to tea bags market trends, by application, the commercial segment was the significant contributorto the tea bags market size, with $2,194.9 million in 2021, and is estimated to reach $5,093.6 million by
2031, at a CAGR of 8.6% during the forecast period.
The totalglobal tea market is analyzed to reach a worth of US$ 20.4 billion in 2024. Worldwide sales of tea areforecasted to rise at a CAGR of 5.7% from 2024 to 2034.
Source: Yahoo.com/EIN Press wire (Extracts), Courtesy: Tea Exporters’ Association Sri Lanka
About F&W
Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down Read More...