Tea Market Overview in Ireland

In 2019, the Irish tea market decreased by -% to $ for the first time since 2015, thus ending a three-year rising trend. Over the period under review, the total consumption indicated a mild expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2015 indices. The most prominent rate of growth was recorded in 2017 when the market value increased by % year-to-year. Over the period under review, the market attained the maximum level at $ in 2010; however, from 2011 to 2019, consumption remained at a lower figure.

For the fourth consecutive year, Ireland recorded growth in consumption of tea, which increased by % to tonnes in 2019. In general, the total consumption indicated slight growth from 2007 to 2019: its volume increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2015 indices. The growth pace was the most rapid in 2017 when the consumption volume increased by % year-to-year. Tea consumption peaked at tonnes in 2009; however, from 2010 to 2019, consumption stood at a somewhat lower figure.

The value of the tea market in Ireland contracted to $ in 2019, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated modest growth from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2015 indices. The pace of growth was the most pronounced in 2017 with an increase of % year-to-year. Over the period under review, the market hit record highs at $ in 2010; however, from 2011 to 2019, consumption remained at a lower figure.

The tea market is expected to start a downward consumption trend over the next decade. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eleven-year period from 2019 to , which is projected to depress the market volume to tonnes by the end of .

Ireland remains a net importer of tea; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.