Opportunity for global tea producers - CCC

The demand for tea, which is one of the world's most consumed beverages, is growing with consumers shifting from carbonated drinks to healthy beverages, providing an opportunity to global tea sector players such as Sri Lanka.

An analysis done by the 'Business and Information Division' of the Ceylon Chamber of Commerce on the global tea sector covering 2012 and 2013 reveals, that the increasing level of awareness among consumers of the health benefits of tea and its anti-ageing properties have helped in the latest shift in demand for tea.

According to the study, tea has found new demand among the ageing population in Japan, Europe and the US markets and among several other segments.

During 2013, over 290 billion litres of tea was sold in retail and food service, with retail value amounting to US$ 40.7 billion.

Despite the huge promise the commodity has, the report identifies that it still lacks the high value found in competing beverage markets.

"As volume continues to grow, and value begins to catch up through premiumisation and changing habits, there is a huge amount of long-term growth available and a incredible opportunity for those who understand the evolving market," the report said. According to the report, Sri Lanka's tea exports in 2013 hit the highest ever figure, recording US$ 1.54 billion, a 21.56 percent increase over the previous year.

The statistical analysis of the 'Tea Sector' compiled by the Ceylon Chamber of Commerce, gives a detailed breakdown of a statistical study on tea, product wise, exports and imports by value, quantity and source of exports and imports globally and locally.