Global Agar Tea Market Overview:
Agar tea is obtained from agarwood tea which is th leaves of aquilaria. The agar tea is dry and caused which are sold sachet packs or bags for drinking tea, and it has an aromatic scent with numerous health benefits. This tea is also known as oud tea and is used for making expensive essences, carved tablets, and other things. Agar tea is one of the natural herbal teas which can be included for daily consumption as it consists of anti-arthritic, anti-inflammatory, antioxidant, etc properties beneficial for health.
- Increasing Demand for Health Benefits Containing Tea Range
- Growing Anti-inflammatory Problems Among People
- The popularity of Agar Tea Among Asian Countries
- Problems with the Decreasing Plantation of Agarwood Tea
- Surging Demand for Agar Tea in Comics and Medicines Application because of its Health Benefits
- Allergy-Related Risks with Consumption of Agar Tea to Some People
Some of the key players profiled in the report are AgarHarvest (Thailand), Shan Er Food Sdn Bhd (Malaysia), Agarvina Co. Ltd. (Vietnam), Gaharu Technologies Sdn Bhd (Hoga) (Malaysia), Vanadurgi Agarwood India Ltd. (India) and Horrison Resources (Hong Kong). Considering Market by Nature, the sub-segment i.e. Organic will boost the Agar Tea market. Considering Market by Distribution Channel, the sub-segment i.e. Supermarket/Hypermarket will boost the Agar Tea market. Considering Market by Form, the sub-segment i.e. Leaves will boost the Agar Tea market.
Latest Market Insights:
On 31st August 2020, Upon conducting a rigorous market potential and opportunities assessment, Horrison Resources has decided to narrow down its focus on the global tea market and wellness industry. The global tea market is expected to rise to over 73 billion dollars by 2024 whilst the wellness industry is a trillion-dollar market and one of the world's largest and fastest-growing industries.
On 14th May 2020, Horrison Resources Inc. announced the completion of the agreement as of March 1, 2020, to acquire 1,000 Aquilaria (also known as Agarwood) trees from Mr. Nee Seng, Yap as part of its effort to combine long term financial growth of the company and to tackle the climate crisis.
"Agarwood is a protected species under the Indian Forest Act, 1927, and is a scheduled tree species under the Wildlife Protection Act, 1972. The latest IUCN estimates say “deforestation has led to an 80% population decline for the species over the past 150 years.” Legal international trade in agarwood is regulated through a system of permits by the Convention on International Trade in Endangered Species of Wild Fauna and Flora or CITES, but illegal and/or unsustainable trade is placing a burden on continuing supplies of agarwood."
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Agar Tea market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Agar Tea market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Agar Tea Producers, Agar Tea International Traders, Agar Tea Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.