Sipping Success: South Korea Tea Market Set to Grow at 4.2% CAGR during Forecast Period (2024-2032)
South Korea Tea Market Outlook
According to the report by Expert Market Research (EMR), the South Korea tea market size is projected to grow at a CAGR of 4.2% between 2024 and 2032. Aided by the increasing consumer preference for healthy, natural beverages, the market is expected to grow significantly by 2032.
Tea has been an integral part of South Korean culture for centuries, not just as a beverage but also as a symbol of hospitality and a medium of meditation. In recent years, the market has seen a surge in the popularity of both traditional Korean teas and a variety of international teas. The South Korean tea market is diverse, encompassing green teas, black teas, herbal teas, and fruit teas, each offering unique flavours and health benefits.
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The South Korea tea market growth is largely driven by the increasing awareness of health benefits associated with tea consumption. Teas, particularly green and herbal varieties, are rich in antioxidants and have been linked to numerous health benefits, including improved heart health and reduced stress levels. This has resonated well with health-conscious consumers in South Korea, who are increasingly seeking out natural and healthy beverage options.
Additionally, the growing café culture in South Korea, coupled with the rise of specialty tea shops and tea-centric menus in cafes, has significantly boosted the South Korea tea market demand. These establishments offer a wide array of tea-based beverages, catering to the diverse tastes of consumers and promoting the culture of tea drinking among younger generations.
Innovation in tea products, including the introduction of ready-to-drink (RTD) tea beverages, has been a key South Korea tea market trend. These convenient and accessible products cater to the busy lifestyle of urban consumers, offering a quick and healthy alternative to sugary drinks. Moreover, the incorporation of unique and exotic flavours in teas has attracted a broader consumer base, further fuelling market growth.
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Another significant trend is the increasing demand for organic and sustainably sourced teas. Consumers are becoming more environmentally conscious, seeking products that are not only healthy but also produced in an eco-friendly manner. This has led to a rise in the popularity of organic tea brands and sustainable farming practices in the tea industry.
South Korea Tea Market Segmentation
The market can be divided based on type, packaging, and distribution channels.
Market Breakup by Type
- Green Tea
- Oolang Tea
- Black Tea
- Fruit/ Herbal Tea
- Others
Market Breakup by Packaging
- Tea Bags
- Plastic Containers
- Loose Tea
- Paperboards
- Aluminium Tins
Market Breakup by Distribution Channels
- Supermarkets/ Hypermarkets
- Convenience Store
- Specialty Stores
- Online Stores
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South Korea tea market. Some of the major players explored in the report by Expert Market Research are as follows:
- Osulloc Co., Ltd.
- Nokchawon Co. Ltd.
- Kwangdong pharmaceutical co., ltd.
- Dong Suh Co., Ltd
- Ssanggye Myung Tea Co., Ltd
- Lotte Chilsung Beverage Co.,Ltd.
- Others
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