India: Extracts Of Tea Market 2024

Extracts Of Tea Market Size in India

For the third consecutive year, the Indian extracts of tea market recorded decline in sales value, which decreased by X% to $X in 2023. Overall, consumption recorded a noticeable contraction. As a result, consumption reached the peak level of $X. From 2015 to 2023, the growth of the market remained at a somewhat lower figure.

Extracts Of Tea Production in India

In value terms, extracts of tea production reduced dramatically to $X in 2023 estimated in export price. In general, production saw a slight reduction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Extracts Of Tea Exports

Exports from India

For the third year in a row, India recorded growth in overseas shipments of extracts, essences and concentrates of tea or mate, which increased by X% to X tons in 2023. In general, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in the near future.

In value terms, extracts of tea exports rose slightly to $X in 2023. Over the period under review, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked in 2023 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons), the United Arab Emirates (X tons) and Ireland (X tons) were the main destinations of extracts of tea exports from India, with a combined X% share of total exports. Saudi Arabia, Myanmar, Japan, Qatar, Kuwait, Italy, Bangladesh, Canada, the UK and the Philippines lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of X.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Ireland ($X) and the United Arab Emirates ($X) appeared to be the largest markets for extracts of tea exported from India worldwide, together comprising X% of total exports. Japan, Myanmar, Saudi Arabia, the Philippines, Canada, Italy, the UK, Kuwait, Bangladesh and Qatar lagged somewhat behind, together comprising a further X%.

Myanmar, with a CAGR of X.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average extracts of tea export price stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the export price showed a pronounced downturn. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2023, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Ireland ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced a decline.

Extracts Of Tea Imports

Imports into India

After two years of decline, overseas purchases of extracts, essences and concentrates of tea or mate increased by X% to X tons in 2023. Overall, imports showed strong growth. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, extracts of tea imports expanded markedly to $X in 2023. Over the period under review, imports showed strong growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Ecuador (X tons), Kenya (X tons) and the United States (X tons) were the main suppliers of extracts of tea imports to India, with a combined X% share of total imports. Vietnam, China, Malaysia, Japan, Taiwan (Chinese), France, Germany, the United Arab Emirates, Sri Lanka and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of extracts, essences and concentrates of tea or mate to India, comprising X% of total imports. The second position in the ranking was taken by Kenya ($X), with an X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Kenya (X% per year) and the United States (X% per year).

Import Prices by Country

The average extracts of tea import price stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the import price, however, showed a modest expansion. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform