Anticipated to attain a value of US$ 12.8 Billion by 2023, the global market for tea processing equipment is on a growth trajectory. Bolstered by the rising global consumption of diverse tea varieties, the demand for such equipment is set to escalate further, with a projected Compound Annual Growth Rate (CAGR) of 6.4% from 2023 to 2033. This trajectory is poised to lead the market to a noteworthy valuation of US$ 25.4 Billion by the culmination of 2033.
As one of the oldest beverages globally and the second most consumed after water, tea holds immense cultural significance. Moreover, it plays a pivotal role in fostering rural development, alleviating poverty, and bolstering food security, particularly in exporting and developing nations.
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Driving Forces in the Global Tea Processing Equipment Market
The global market for tea processing equipment is on an upward trajectory, fueled by the escalating consumption of diverse tea variants, encompassing black tea, green tea, and decaffeinated tea. This trend is expected to persist throughout the forecast period.
Likewise, the surge in tea exports and advancements in manufacturing technologies are poised to propel the tea processing equipment market during the upcoming decade.
While the black tea sector currently commands the largest share of tea processing equipment consumption, it is the green tea segment that is predicted to outpace all others in the forecast period. This projected dominance is attributed to the burgeoning worldwide production and consumption of green tea.
Key Insights from the Study on Tea Processing Equipment Market:
- Rising Momentum in CTC Tea Processing: Among processing techniques, the CTC tea processing machines segment is poised for robust growth, exhibiting a higher Compound Annual Growth Rate (CAGR) during the forecast period.
- Automation’s Swift Ascent: In terms of automation grade, the automatic segment is projected to demonstrate the most rapid expansion between 2023 and 2033, indicating a shift towards enhanced automated processes.
- U.S. Leading the Way: Presently, the U.S. commands a significant share, accounting for approximately 20% of the global tea processing equipment market, reflecting its dominant stature.
- China’s Accelerated Market Surge: China’s tea processing equipment market is anticipated to experience the swiftest growth rate over the upcoming decade, underlining its dynamic progression.
- North America’s Steady Growth: The tea processing equipment market in North America is expected to sustain steady growth, with an estimated CAGR of 6.13% between 2023 and 2033, showcasing consistent advancement.
Leaders Emerging in the Field:
FMI’s assessment points to notable industry leaders in the tea processing equipment market, including Steelsworth, Marshall Fowler Engineers, Kawasaki Kiko, Bharat Engineering Works, and G.K Tea Industries.
These prominent players are actively embracing a spectrum of organic and inorganic approaches, such as introducing novel products, engaging in mergers, acquisitions, collaborations, and partnerships. These strategic maneuvers are instrumental in solidifying their competitive advantage within the market.
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Tea Processing Equipment Market by Category
By Processing Technique:
- CTC Tea Processing Machine
- Orthodox Tea Processing Machine
By Process Components:
- Tea Sorting equipment
- Tea Powder grinding
- Tea Rolling machine
- Fermenting Machine
- Tea Drying equipment
By End-use Industry:
- Black Tea Industry
- Green Tea Industry
- Oolong Tea Industry
- Others (Bubble tea, Yellow Tea, Decaffeinated tea etc.)
By Automation Grade:
- Automatic
- Semi-Automatic
- Manual
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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