Vietnam is the world's 8th largest tea export market

In 7 months, tea exports grew by double digits

The Import-Export Department (Ministry of Industry and Trade) said that it is estimated that tea exports in July 7 will reach 2024 thousand tons, worth 16 million USD, an increase of 29% in volume and an increase of 14,5% in value. compared to June 6,8; increased 6% in volume and 2024% in value compared to July 52,8. The average price of exported tea in July 56,2 is estimated at 7 USD/ton, down 2023% compared to June 7, but up 2024% compared to July 1.796,3.

In the first 7 months of 2024, tea exports are estimated to reach 78 thousand tons, worth 135 million USD, up 32,7% in volume and 34,8% in value compared to the same period in 2023. The average price of exported tea will reach 1.727,7 USD/ton, up 1,6% over the same period in 2023.

According to statistics from the General Department of Customs, in the second quarter of 2024, Vietnam's tea exports reached 35,4 thousand tons, worth 62,7 million USD, an increase of 31,1% in volume and an increase of 35,5% in volume. % in value compared to the same period in 2023. The average price of exported tea in the second quarter of 2024 reached 1.772,4 thousand USD/ton, an increase of 3,2% compared to the second quarter of 2023.

In the first 6 months of 2024, tea exports reached 62 thousand tons, worth 106 million USD, up 28,3% in volume and 30% in value compared to the same period in 2023. The average price of exported tea reached 1.710,0 USD/ton, up 1,3% over the same period in 2023.

In the second quarter of 2024, tea exports tend to increase strongly thanks to demand in many markets showing signs of recovery. Among them, green tea exports dominate with 61,6% of total export value; Next are black tea, oolong tea and flower tea.

Specifically, green tea exports in the second quarter of 2024 reached 19,9 thousand tons, worth 38,6 million USD, up 64,4% in volume and 61,8% in value compared to the second quarter of 2023. Green tea is exported mainly to the Asian region, accounting for 97,8% in volume and 97,7% in value in the second quarter of 2023. Only a small amount of green tea is exported to the Americas, Europe and Oceania. In the first 6 months of 2024, green tea exports reached 32,4 thousand tons, worth 62,1 million USD, up 56,3% in volume and 54% in value compared to the same period in 2023.

Next is black tea exported in the second quarter of 2024 reaching 13,7 thousand tons, worth 17,3 million USD, up 18,4% in volume and 10,8% in value over the same period last year. 2023. Black tea is exported mainly to Asia, accounting for 71,3% in volume and 68,3% in value compared to the second quarter of 2023; followed by exports to the European region accounting for 14,5% in volume and 17,2% in value; America accounts for 13,4% in volume and 13,7% in value; The remaining small proportion is in Oceania and Africa. In the first 6 months of 2024, black tea exports reached 26 thousand tons, worth 33,4 million USD, up 17,8% in volume and 11,5% in value compared to the same period in 2023.

Vietnam - the world's 8th largest tea export market

The EU is the largest tea import market globally. According to statistics from the European Statistics Agency, in the first 4 months of 2024, the EU market's tea imports reached 401 million USD, an increase of 2,9% over the same period in 2023, the value of EU tea imports. EU from Vietnam accounts for only 0,19% of total import value.

Thus, the market space is still very large and there are many opportunities to expand market share for the Vietnamese tea industry. However, the EU is increasingly setting more regulations on a clean, green economy, requiring export businesses to update information to properly meet consumer needs in this market.

 

Pakistan is the second largest tea import market globally. According to statistics from the Pakistan Tea Association, in the first 2 months of 6, tea imports into the country will reach 2024 million USD, an increase of 272% over the same period in 11. The increase in tea imports shows the popularity of tea. this beverage among consumers in Pakistan, despite economic pressures. Tea remains a staple in Pakistani households and is a beverage ingrained in the country's culture and society.

However, the proportion of Pakistan's tea imports from Vietnam is still low and tends to decrease. Due to many barriers, especially lack of market information, it is difficult for Vietnamese tea businesses to approach and have large orders with Pakistani businesses.

Notably, among the world's leading tea import markets, tea imports from the US market recorded a high growth rate in the first 5 months of 2024. According to statistics from the International Trade Commission. In the first 5 months of 2024, US tea imports reached 222 million USD, an increase of 18,1% over the same period in 2023.

In particular, the United States increased tea imports from the Vietnamese market, however, Vietnam's tea market share in the United States is still low and there are still many opportunities to expand market share in this market.

The income of the US people is increasing, and increased consumption will push importers' purchasing activities to increase sharply again. Although the United States is a large tea import market, it is also a demanding market, with high standards for quality and food hygiene and safety. To boost exports and better exploit large, potential markets like the United States, tea production and export businesses need to invest in processing, especially paying close attention to hygiene and safety issues. whole food.

According to statistics from the International Trade Center (ITC), in the first 4 months of 2024, UK tea imports reached 114 million USD, an increase of 13,5% over the same period in 2023. In the UK, tea is main beverage, with a significant portion of consumers at all income levels drinking tea daily. Therefore, the UK is also a very potential market for Vietnamese tea to have the opportunity to expand, when the proportion only accounts for 0,2% of the total value of UK tea imports in the first 4 months of 2024.

Ranked 5th among the world's major tea import markets is Hong Kong (China), but this market's demand for imported tea is trending down sharply. According to statistics from the Hong Kong Statistics Authority (China), this market's tea imports in the first 6 months of 2024 reached 56 million USD, down 33,2% over the same period in 2023.

Due to a sharp decrease in market demand, the proportion of tea imports of the Hong Kong market (China) from Vietnam also decreased significantly in the first 6 months of 2024, accounting for only 0,01% of the total import value, from 0,15% in the same period in 2023.

The demand for imported tea in major markets around the world is tending to recover, this is a positive signal for the Vietnamese tea industry to have the opportunity to boost tea exports in the near future.

Although it is the 8th largest tea export market in terms of value on the world market (according to statistics from the International Trade Center - ITC), the proportion of tea imports from major global markets is from Vietnam is still very low. Therefore, the opportunity to expand tea market share is very positive.

However, to expand tea market share in the world market, Vietnam's tea industry needs to focus on improving product quality and diversifying products; Promote the production of high-quality tea, organic tea, and safe tea, focusing on modern processing and packaging processes that meet international standards.

Along with that, it is necessary to promote the Vietnamese tea brand to the international market, participate in prestigious tea fairs and exhibitions to introduce products and connect with potential partners.

According to research from Research and Markets, the global tea market reached 24,3 billion USD in 2016, expected to reach 37,5 billion USD by 2025. The growth rate of the tea industry is increasingly high due to lifestyle change and increase consumer awareness that drinking tea is beneficial for health. Premium tea to drink at home, healthy tea, cold brew tea... are forecast to be the product lines leading the market in the coming period.