U.S. - Tea - Market Analysis, Forecast, Size, Trends and Insights
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View PricingUS Tea Imports Dip to $36M in Feb 2023
U.S. Tea Imports
In February 2023, overseas purchases of tea increased by 12% to 8.6K tons, rising for the second consecutive month after three months of decline. Over the period under review, total imports indicated perceptible growth from February 2022 to February 2023: its volume increased at an average monthly rate of +2.7% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on February 2023 figures, imports increased by +16.4% against December 2022 indices. The growth pace was the most rapid in March 2022 when imports increased by 43% against the previous month. Over the period under review, imports attained the peak figure at 13K tons in July 2022; however, from August 2022 to February 2023, imports failed to regain momentum.
In value terms, tea imports declined to $36M (IndexBox estimates) in February 2023. The total import value increased at an average monthly rate of +1.2% from February 2022 to February 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The growth pace was the most rapid in March 2022 when imports increased by 42% against the previous month. Imports peaked at 54K tons in May 2022; however, from June 2022 to February 2023, imports remained at a lower figure.
Imports by Country
In February 2023, Argentina (4K tons) constituted the largest supplier of tea to the United States, with a 47% share of total imports. Moreover, tea imports from Argentina exceeded the figures recorded by the second-largest supplier, India (1K tons), fourfold. The third position in this ranking was taken by China (839 tons), with a 9.8% share.
From February 2022 to February 2023, the average monthly rate of growth in terms of volume from Argentina stood at +4.7%. The remaining supplying countries recorded the following average monthly rates of imports growth: India (+4.4% per month) and China (+0.6% per month).
In value terms, the largest tea suppliers to the United States were Japan ($6.6M), Argentina ($5.1M) and India ($4.9M), together accounting for 46% of total imports. China, Sri Lanka, Taiwan (Chinese), Malawi, Pakistan, Indonesia, Vietnam and Kenya lagged somewhat behind, together comprising a further 29%.
In terms of the main suppliers, Pakistan, with a CAGR of +10.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
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Imports by Type
In February 2023, tea, black; (fermented) and partly fermented tea, in immediate packings of a content exceeding 3kg (6.5K tons) constituted the largest type of tea supplied to the United States, with a 75% share of total imports. Moreover, tea, black; (fermented) and partly fermented tea, in immediate packings of a content exceeding 3kg exceeded the figures recorded for the second-largest type, tea, black; (fermented) and partly fermented tea, in immediate packings of a content not exceeding 3kg (1.2K tons), sixfold. Tea, green; (not fermented), in immediate packings of a content exceeding 3kg (599 tons) ranked third in terms of total imports with a 7% share.
From February 2022 to February 2023, the average monthly growth rate of the volume of import of tea, black; (fermented) and partly fermented tea, in immediate packings of a content exceeding 3kg amounted to +3.9%. With regard to the other supplied products, the following average monthly rates of growth were recorded: tea, black; (fermented) and partly fermented tea, in immediate packings of a content not exceeding 3kg (+1.7% per month) and tea, green; (not fermented), in immediate packings of a content exceeding 3kg (-2.3% per month).
In value terms, the most traded types of tea in the United States were tea, black; (fermented) and partly fermented tea, in immediate packings of a content exceeding 3kg ($12M), tea, black; (fermented) and partly fermented tea, in immediate packings of a content not exceeding 3kg ($11M) and tea, green; (not fermented), in immediate packings of a content exceeding 3kg ($6.8M), together accounting for 82% of total imports.
Import Prices by Country
In February 2023, the tea price amounted to $4,187 per ton (CIF, US), declining by -12.3% against the previous month. In general, the import price showed a slight descent. The most prominent rate of growth was recorded in December 2022 an increase of 14% month-to-month. As a result, import price attained the peak level of $5,027 per ton. From January 2023 to February 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In February 2023, the country with the highest price was Japan ($38,054 per ton), while the price for Argentina ($1,277 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by Japan (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the tea market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 667 - Tea
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
