The size of the tea industry may touch Rs 33,000 crore by 2015, driven by the growing popularity of different varieties like herbal and ice tea and awareness about their health benefits, an Assocham study has said.
The domestic tea industry, which is valued at Rs 19,500 crore at present, has been growing at a compound annual growth rate of 15 per cent, the study said.
India accounts for about 30 per cent of the global output and is the second largest producer after China.
“More and more companies are coming out with value—added products of tea... Also, an awareness about health benefits associated with moderate intake of tea has led to an upsurge in its demand,” Assocham Secretary General D S Rawat said.
The study said branded market accounts for about 55 per cent of the total tea industry, while the unbranded market is growing at 45 per cent annually, Rawat said.
About 35 lakh workers, both directly and indirectly, are employed in over 1,500 tea estates, the study said.
Of the country’s total tea production, Assam accounts for half of it, it added.
During January-October, 2011, the country produced 847.15 million kg of tea as against 813.73 million kg in the year-ago period.