Tea Industry Of India – Sipping on Market Growth

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Tea IndustryLet’s have a cup of tea

Tea holds a very unique place in the lives of people. Right from getting up in the morning, a get together; just for spending time, welcoming the guest or just to get freshen up, tea has its own importance in daily life. Just a sip of it rejuvenates your mind in flash. The fine aromatic beverage commonly prepared by pouring hot or boiling water over cured leaves of the tea plant. Tea is the most widely consumed beverage all over the world. It has a cooling, slenderly pungent, and astringent flavour that many people enjoy. This beverage was first introduced into India by the East India Company of the Britishers in an attempt to break the Chinese monopoly on tea. In India, Tea is like a staple beverage and a day without it is impossible and incomplete. Indians prefer their steaming cup of tea because for them it acts as an energy booster and is simply essential. This popular drink has a lot of health benefits too as its antioxidants help to eradicate toxins and free radicals from the blood. Be it a high profile person or an ordinary man, served in plush hotel or a roadside stall; tea is favorite of all.

In India, the chief tea producing states are Assam, West Bengal, Tamil Nadu, Kerala, Tripura, Arunachal Pradesh, Himachal Pradesh, Karnataka, Sikkim, Nagaland, Uttarakhand, Manipur, Mizoram, Meghalaya, Bihar and Orissa. It is produced from a plant called Camellia sinensis. There are thousands of different varieties available in the world only varied by the region it is grown, the time of year picked, and the processing technique. There are different types of tea in the market such as White, Green, Oolong, Black, Herbal, Rooibos and Mate.The Indian tea industry has grown to own many global tea brands and has evolved into one of the most technologically equipped tea industries in the world. Companies like Brooke Bond, Tata, Lipton, Duncans, Goodricke Group Ltd, Goodwyn Tea are the chief players in Indian tea sector.

The tea industry has flourished and developed tremendously over the years, making India the largest grower and producer of tea in the world. The tea production in India was about 979,000 tons as of 2009. In terms of consumption, export and production, India is the world leader. It accounts for 31% of the worldwide production of this beverage. India has retained its dominance over the tea industry for the last 150 years. The total turnover of this industry is roughly Rs.10, 000 crores. Since 1947, the production in India has amplified by 250% and the land are used for production has increased by 40%. With amid 20% compounded yearly growth rate (CAGR), the branded tea market adds nearly 55% of the market size with around 980 million kgs of India’s overall output. In a recent forecast report, India’s tea market is set to touch Rs 33,000 crore by 2015 from the current level of Rs 19,500 crore.