The tea bags market was valued at $6.1 billion in 2021, and is estimated to reach $12.9 billion by 2031,growing at a CAGR of 7.6% from 2022 to 2031.

Players operating in the global tea bags industry have adopted various developmental strategies to expandtheir market share, increase profitability, and remain competitive in the market.

On the basis of type, the black tea segment was the highest contributor to the tea bags market, with $1,619.4 million in 2021, and is estimated to reach $2,673.5 million by 2031, at a CAGR of 4.9% during the forecast period. Growth of the black tea segment is driven by rise in number of tea drinkers across the globe.

According to tea bags market trends, by application, the commercial segment was the significant contributorto the tea bags market size, with $2,194.9 million in 2021, and is estimated to reach $5,093.6 million by 2031, at a CAGR of 8.6% during the forecast period.

The totalglobal tea market is analyzed to reach a worth of US$ 20.4 billion in 2024. Worldwide sales of tea areforecasted to rise at a CAGR of 5.7% from 2024 to 2034.