Tea Processing Equipment Market Size worth USD 3.11 Billion by 2030 | Fortune Business Insights
Fortune Business Insights
Updated 6 min read
Fortune Business Insights
According to Fortune Business Insights, the global tea processing equipment market size is projected to reach USD 3.11 billion by 2030 from its value USD 2.24 billion in 2022, at CAGR of 4.4% during forecast period.
Pune, India, April 21, 2023 (GLOBE NEWSWIRE) -- The tea processing equipment market size was valued at USD 2.24 billion in 2022 and is expected to reach a valuation of USD 2.31 billion in 2023. The market is expected to reach USD 3.11 billion by 2030 with a CAGR of 4.4% during the forecast period. Tea processing equipment completes essential tasks such as withering, sorting, fermenting, rolling, and drying. Tea manufacturers use orthodox tea machines, tea sorting equipment, tea drying equipment, CTC tea processing equipment, fiber extractors, tea powder grinding, and tea grading equipment on a daily basis. It is used highly for commercial purposes, which are set to propel market growth. Fortune Business Insights™ shares this information in its report titled “Tea Processing EquipmentMarket, 2023-2030.”
Key Industry Developments - January 2023: George Steuart Teas unveiled a tea processing and packaging plant in Sri Lanka, which has the processing capacity of 18 Mnkgs of teas yearly.
Quanzhou Deli Agroforestrial Machinery Co., Ltd. (China)
T & I Global Ltd. (India)
Anxi Yongxing Tea Machinery Co. (China)
Workson Industries (India)
Nova Hightech Pvt. Ltd. (India)
GEM Machinery & Allied Services (India)
Noble Procetech Engineers (India)
COVID-19 Impact:
Supply Chain Disruptions and Labor Shortages Affected Market Growth
The COVID-19 pandemic created supply chain disruptions and labor shortages. This created halt on ocean freight, air freight, land transport, and all other transportation. Due to the cooler-than-usual weather and labor shortage, leaf plucking in 60% of the tea-producing countries was disrupted.
By Processing Technique, By Processing Component, By Tea Type, By Region
Growth Drivers
Government Initiatives and Advancements in Technology to Drive the Market Growth
Drivers and Restraints:
Government Initiatives and Advancements in Technology to Propel Market Growth
Government initiatives and advancements in technology are projected to drive the tea processing equipment market growth. Many governments have been actively supporting the tea processing industry which has helped to increase the market share. There has been a constant evolution with new technologies and innovations. This has led to an increase in demand for high-tech tea processing equipment, which can improve the quality of tea, reduce processing time and cost, and increase efficiency.
However, competition from low-cost countries and lack of skilled labor to impede market expansion.
Segments Analysis:
CTC Tea Processing to Hold a Major Share Due to High Usage
According to processing technique, the market is bifurcated into CTC tea processing machine and orthodox tea processing machine. CTC tea processing machine segment to hold the largest share as it is a modern, highly automated tea processing method involving machines to crush, tear, and curl tea leaves.
Tea Sorting Equipment Segment to Lead as it Offers Consistent Quality and Flavor
According to processing component, the market is divided into tea sorting equipment, tea powder grinding, tea rolling machine, fermenting machine, and tea drying equipment. Tea sorting equipment is set to dominate as it helps ensure consistent quality and flavor in the final product.
Black Tea to Sustain Largest Share Owing to Surging Demand
According to tea type, the market is divided into black tea, green tea, and others (oolong, white, and other flavored teas). Black tea segment is set to dominate due to increasing demand globally due to beneficial chemicals formed on the leaves. Therefore, black tea is popular among health-conscious individuals.
Geographically, the market is segmented into North America, South America, Asia Pacific, Europe, and the Middle East & Africa.
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Regional Insights:
Asia Pacific to Dictate Market Share as it has the Largest Tea Producing Countries
Asia Pacific is expected to hold majority part in the tea processing equipment market share due to the presence of largest tea producers. China and India are the largest tea producing countries, which help in the demand for the processing equipment. China is set to dominate in the region due to high population and increasing green tea demand.
North America has a steady growth due to the growing demand for high-quality tea and tea-based beverages such as iced tea, bubble tea, and specialty teas.
South America is anticipated to show stable growth as the region has a range of climates and tea-growing regions in the countries such as Argentina, Brazil, and Colombia.
The Europe market is set to grow steadily due to the increasing popularity of green tea. Growing trend to use organic and sustainability-sourced teas is driving the market growth.
Competitive Landscape
Upgrading Technologies in Existing Machines by the Key Players to Propel Market Progress
The market players have been upgrading their product portfolios with new products and technologies. In August 2021, GEA introduced a high capacity output equipment, XTRU Twin 140 extruder. This equipment will give the flexibility to produce a wide range of products.
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