The global oolong tea market research report by Technavio predicts the market to post a CAGR of more than 3% during the period 2019-2023.
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Technavio has published a new market research report on the global oolong tea market from 2019-2023. (Graphic: Business Wire)
A key driver for the global oolong tea market is the increasing accessibility and availability through organized retailing. Convenience products such as ready-to-drink oolong tea, oolong tea blends, and mixes are mainly sold by large and organized retailers and the vendors in the global oolong tea market distribute their products mostly through such retailers. The vendors depend heavily on large organized retailers such as supermarkets and hypermarkets owing to their wide presence and penetration. Hence, the global market is receiving a boost from the growing accessibility and availability of oolong tea through organized retailing.
As per Technavio, the increasing influence of online retailing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global oolong tea market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global oolong tea market: Increasing influence of online retailing
The growing internet penetration has helped e-commerce businesses expand around the world. Online retailing has provided vendors with new opportunities to increase sales, expand their geographic presence, and improve customer relationships and profitability. The rising interest and preference among consumers for online shopping owing to convenience has prompted many manufacturers and distributors to concentrate on sales through online channels.
“Online retailing assists in eliminating the middlemen and permits the vendors to interact directly with consumers. The online and e-commerce channels also support both business-to-business and business-to-consumer operations. Online retailing offers vendors the freedom to run from a central distribution hub or farm and eliminates the complex network of intermediaries. Therefore, it helps to streamline supply chain operations and improve efficiency and productivity,” says a senior research analyst at Technavio.
Global oolong tea market: Segmentation analysis
This oolong tea market analysis report segments the market by product (conventional oolong tea and organic oolong tea) and geography (the Americas, APAC, and EMEA).
The conventional oolong tea segment held the largest oolong tea market share in 2018, accounting for over 70% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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