Project Report For
The project report for Tea Factory is as follows.
The international tea market is projected to hit USD 21.33 billion by 2024, rising at CAGR by 5 percent year-on-year. As far as regions are concerned, Asia-Pacific, North America and Europe will make a major contribution to this development.
Tea has been the most popular consumed beverage, loved by all age categories. Tea rich in antioxidants that resist diseases and encourage better health. The worldwide demand for tea is categorised into 4 main regions-Asia-Pacific, Europe , North America and the rest of the world.
China is the nation’s largest producer of tea, accompanied by India and Sri Lanka. In 2018 , China generated nearly 2.8 million metric tonnes of tea. Global tea usage is forecasted to grow during the next ten years , mainly due to demand from China , India as well as other developing nations. Tea is shifting from an region of regular consumption in developing markets to a more lifestyle-driven region, supported by much more costly and creative varieties currently accessible in the market.
Tea is India’s most commonly drinked beverage. The nation is the second-largest tea producer in the world and also has the biggest tea-drinking audience.
Market potential & Strategy
Nearly 90% of tea cultivation in India is consumed locally. Even after this, the per-capita intake of such a drink is smaller than several similar asian and european nations.
The popular tea-growing Indian states are Assam, West Bengal, Tamil Nadu and Kerala. India is renowned to deliver top notch tea from the hills of Darjeeling, Assam and Nilgiri with a special fragrance, texture and taste. The industry produces employment opportunity to approximately 3.5 million people around the world, many of whom are women. The Indian tea industry is projected to rise at 14% CAGR from 2017 to 2021. RTD tea beverages are anticipated to increase demand between young people due to their fitness & wellbeing statements.
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