Annual growth of global tea industry slowing to 5.8%
New research suggests the global tea industry is set to expand by an annual rate of 5.8% in the coming years, fueled by demand from Asia, Middle East and the US. However, according to data compiled by Global Research & Data Services, this estimate represents a substantial deceleration compared to the 2008-2014 period, when the industry grew by an average annual rate of 10%. Largest markets for tea will remain China, India, Japan, Sri Lanka and the US, while strongest relative growth is expected to originate from Morocco, Panama, Bolivia and Rwanda, all expected to showcase double-digit numbers. The market is currently dominated by unfermented green tea, popular in Asia, at 42%, and is then quasi-equally split between black tea and tea concentrates.