With overall sales increasing at a 6.4% CAGR over the forecast period, the global tea processing equipment market is anticipated to increase from US$ 12.8 billion in 2023 to US$ 25 billion by 2033.
The global tea processing equipment market is growing due to an increase in the consumption of different types of tea, including black tea, green tea, and decaffeinated tea. This trend is anticipated to continue over the course of the forecast period.
Similarly, increasing export of tea and advancements in manufacturing technologies are expected to boost the tea processing equipment market during the next ten years.
Black tea industry is the current largest consumer of tea processing equipment. However, the green tea industry segment is likely to outpace all other segments during the forecast period. This can be attributed to the rising production and consumption of green tea worldwide.
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Leading manufacturers are continuously introducing novel tea processing equipment with attractive features such as increased efficiency and less power consumption. This will further expand the global tea processing equipment market size during the assessment period.
On the other side, exorbitant prices of automated machines are expected to stymie the growth of the tea processing equipment market in low-income regions throughout the forecast period.
Key Takeaways from the Tea Processing Equipment Market Study:
- By processing technique, the CTC tea processing machines segment is expected to grow at a higher CAGR during the forecast period.
- Based on automation grade, the automatic segment is likely to expand at the fastest pace between 2023 and 2033.
- Currently, with around 20% market share, the U.S, dominates the global tea processing equipment market.
- The tea processing equipment market in China is expected to grow at the fastest pace during the next ten years.
- The North America tea processing equipment market is expected to register a CAGR of 6.13% between 2023 and 2033.
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Rising consumption and export of various types of teas across the world are set to propel the demand for tea processing equipment during the forecast period. Besides this, advancements in tea processing technology and rising number of start-ups offering tea will bode well for the market”, says a lead FMI analyst.
Who is Winning?
According to FMI, Steelsworth, Marshall Fowler Engineers, Kawasaki Kiko, Bharat Engineering Works, G.K Tea Industries are identified as top players dominating the tea processing equipment market.
These key players are adopting various organic and inorganic strategies such as new product launches, mergers, acquisitions, collaborations, and partnerships to gain a competitive edge in the market.
Get Valuable Insights into Tea Processing Equipment Market
FMI, in its new offering, provides an unbiased analysis of the Tea Processing Equipment market presenting historical demand data (2017-2023) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for Tea Processing Equipment based on Processing Technique (CTC Tea Processing Machine, Orthodox Tea Processing Machine), Process Components (Tea Sorting Equipment, Tea Powder Grinding, Tea Rolling Machine, Fermenting Machine, Tea Drying Equipment), End-Use Industry (Black Tea Industry, Green Tea Industry, Oolong Tea Industry), Automation Grade (Automatic, Semi-Automatic, Manual), across seven major regions.
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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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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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