Eastern Asia: Tea Market 2024

Tea Market Size in Eastern Asia

The East Asian tea market dropped rapidly to $X in 2022, waning by X% against the previous year. In general, consumption continues to indicate a mild setback. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Tea Production in Eastern Asia

In value terms, tea production shrank to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2012 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2021, and then contracted in the following year.

China (X tons) constituted the country with the largest volume of tea production, comprising approx. X% of total volume.

From 2012 to 2022, the average annual growth rate of volume in China was relatively modest.

Tea Exports

Exports in Eastern Asia

In 2022, tea exports in Eastern Asia totaled X tons, almost unchanged from the year before. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, tea exports contracted to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

China prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. Taiwan (Chinese) (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tea exports from China stood at X%. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tea supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports.

In China, tea exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, declining by X% against the previous year. Export price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Tea Imports

Imports in Eastern Asia

Tea imports declined to X tons in 2022, reducing by X% compared with 2021. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tea imports reduced to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), distantly followed by Taiwan (Chinese) (X tons), Japan (X tons) and Hong Kong SAR (X tons) represented the major importers of tea, together creating X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Hong Kong SAR (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Hong Kong SAR ($X), China ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Hong Kong SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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