Asia’s Market for Tea Extracts, Essences, and Concentrates Has Skyrocketed Over the Past Five Years
IndexBox has just published a new report: ‘Asia – Extracts, Essences And Concentrates Of Tea Or Mate – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.
The market for tea extracts, essences and concentrates in Asia rose by 10% and reached $2.8B in 2018. The market size increased at an average annual rate of +10.3% from 2014 to 2018. The level of extracts of tea consumption peaked in 2018 and is likely to see steady growth in the immediate term.
Exports in Asia
In 2018, the exports of extracts, essences and concentrates of tea or mate in Asia stood at 51K tonnes, rising by 7.6% against the previous year.
In value terms, extracts of tea exports amounted to $335M (IndexBox estimates) in 2018. The total export value increased at an average annual rate of +4.3% over the period from 2014 to 2018; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when exports increased by 14% y-o-y. In that year, extracts of tea exports reached their peak and are likely to continue its growth in the immediate term.
Exports by Country
In 2018, China (13K tonnes), distantly followed by Malaysia (8.3K tonnes), India (7.8K tonnes), Thailand (5.8K tonnes), Taiwan, Chinese (4.2K tonnes), Sri Lanka (2.9K tonnes) and South Korea (2.5K tonnes) represented the main exporters of extracts, essences and concentrates of tea or mate, together making up 86% of total exports.
From 2014 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by South Korea, while exports for the other leaders experienced more modest paces of growth.
In value terms, China ($137M) remains the largest extracts of tea supplier in Asia, comprising 41% of total extracts of tea exports. The second position in the ranking was occupied by India ($53M), with a 16% share of total exports. It was followed by Malaysia, with a 9% share.
Export Prices by Country
In 2018, the extracts of tea export price in Asia amounted to $6,536 per tonne, jumping by 6% against the previous year.
Prices varied noticeably by the country of origin; the country with the highest price was China ($10,864 per tonne), while Taiwan, Chinese ($2,746 per tonne) was amongst the lowest.
From 2014 to 2018, the most notable rate of growth in terms of prices was attained by Thailand, while the other leaders experienced more modest paces of growth.
Imports in Asia
The imports stood at 42K tonnes in 2018, increasing by 4.1% against the previous year. In value terms, extracts of tea imports amounted to $315M (IndexBox estimates) in 2018. The total imports indicated a strong expansion from 2014 to 2018: its value increased at an average annual rate of +4.9% over the last five-year period.
Imports by Country
The Philippines (4.9K tonnes), China, Hong Kong SAR (3.8K tonnes), Indonesia (3.2K tonnes), Singapore (3K tonnes), Japan (3K tonnes), the United Arab Emirates (2.6K tonnes), Kazakhstan (2.1K tonnes), Malaysia (1.8K tonnes), Turkey (1.7K tonnes), Myanmar (1.6K tonnes), Taiwan, Chinese (1.6K tonnes) and South Korea (1.6K tonnes) represented roughly 73% of total imports of extracts, essences and concentrates of tea or mate in 2018.
From 2014 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Turkey, while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest extracts of tea importing markets in Asia were Hong Kong ($34M), Japan ($29M) and Turkey ($24M), with a combined 28% share of total imports.
Import Prices by Country
The extracts of tea import price in Asia stood at $7,413 per tonne in 2018, going up by 2.3% against the previous year.
Prices varied noticeably by the country of destination; the country with the highest price was Turkey ($13,953 per tonne), while the Philippines ($3,442 per tonne) was amongst the lowest.
From 2014 to 2018, the most notable rate of growth in terms of prices was attained by Turkey, while the other leaders experienced more modest paces of growth.
Source: IndexBox AI Platform
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