A view of global tea market trends and China's place in the picture
The recent North American Tea Conference provided opportunity for further perspective on the role of China's tea in the global and US markets. By combining data from the ITC, the China Tea Marketing Association, the Tea Association of the US, and the USDA FAS, we see:
Even though tea has seen declines in 2020, there is still room for a twist of fate. Historic trends during widespread health concerns reveal impressive spikes in the sales of healthier beverages - especially teas. This tendency towards tea, combined with the powers or online delivery and private grocery brands makes for a trifecta in improved tea performance.
New areas of tea production are increasing their yields while more familiar tea provinces experience flatter growth or declines
The US tea market has plenty of room for further growth, but won't be more of the same