In this article, we will be taking a look at the 15 highest quality tea brands in 2024. If you want to skip our detailed analysis of the global tea market, then head straight to the 5 Highest Quality Tea Brands in 2024.
According to a report by Allied Market Research, the global tea market was valued at $49 billion in 2021. The market is anticipated to expand at a compound annual growth rate (CAGR) of 6.7% from 2022 to 2031, reaching a value of $93.2 billion at the conclusion of the predicted period.
The demand for tea is mostly driven by its health benefits. For instance, it is high in antioxidants which stabilize harmful free radicals in the body. Moreover, numerous studies have also demonstrated the benefits of tea for lowering cholesterol, promoting immunity, helping with weight loss, and preventing neurological diseases and cancers. Supply chain problems, however, can have a big influence on the tea market’s growth. The report also mentions that a substantial portion of the tea market in 2021 was held by the Asia-Pacific region. The region is expected to grow at a significant CAGR during the projected period. Based on type, Allied Market Research divides the market into various segments like black tea, oolong tea, green tea and others. In 2021, the green tea segment dominated the market, and over the course of the forecast period, it is anticipated to increase at a considerable CAGR. This is because it is frequently linked to a host of health benefits.
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Adding to this, a report by IMARC Group estimates that global green tea market was valued at $16.1 billion in 2023, and is projected to grow at a CAGR of 5.8% during 2024-2032 to touch $27.2 billion by 2032. Growing consumer knowledge of the advantages of green tea, new trends in health and wellness, and rapid spread of tea culture around the world are some of the key factors propelling this growth.
Companies like Starbucks Corporation (NASDAQ:SBUX) and The Hain Celestial Group, Inc. (NASDAQ:HAIN) are providing a range of tea products to consumers.
Starbucks Corporation (NASDAQ:SBUX), founded in 1971, is a multinational coffeehouse chain with more than 38,000 locations globally. It also offers different types of tea, from hot teas to tea-based lattes, and other products on its menu. Black teas, herbal teas, green teas, and chai teas are the four main categories of hot teas offered by the company.
Furthermore, we previously noted in one of our pieces that Starbucks Corporation (NASDAQ:SBUX) acquired Teavana, a tea brand, in 2012. In 2017, it stated that it would be shutting down all Teavana stores by 2018 due to underperformance. However, a few Teavana products are still sold by the company.
On the other hand, the Washington-based company is popular among several hedge funds. Starbucks Corporation (NASDAQ:SBUX) was a part of 60 hedge fund portfolios at the end of Q3 2023, up from 59 in the previous quarter, according to Insider Monkey’s database. The collective value of stakes owned by these hedge funds is over $2.7 billion.
Here are some of the comments from Starbucks Corporation (NASDAQ:SBUX)’s Q1 2024 Earnings Call:
“Our performance in the quarter was fundamentally strong. Our Q1 total company revenue was a record $9.4 billion, up 8% year-over-year. Our global comparable store sales grew 5% year-over-year, supported by a 5% comp growth in North America, driven by 4% ticket growth, and 10% comp growth in China. Our global operating margins expanded by 130 basis points to 15.8% and our overall earnings per share grew 20% to $0.90. This speaks to the continued successful execution of our reinvention plan and the durable business we are building.”
The Hain Celestial Group, Inc. (NASDAQ:HAIN) manufactures and markets organic and natural products, with an extensive portfolio of well-known brands like The Greek Gods, Ella’s Kitchen, Cully & Sully, Sun-Pat, Earth’s Best, and Celestial Seasonings among others. Celestial Seasonings, a tea brand based in Boulder, Colorado, is among the highest quality tea brands in 2024. It was acquired by The Hain Celestial Group, Inc. (NASDAQ:HAIN) in 2000. The brand provides a variety of teas, such as herbal, green, and wellness teas.
Meanwhile, here are a few remarks from The Hain Celestial Group, Inc. (NASDAQ:HAIN)’s Q1 2024 Earnings Call:
“Innovation in snacks and our investment in the brand building campaign Good Food Made Fun are helping drive Earth’s Best snacks up low single digits in dollars and a 20% expansion at total distribution points. In better-for-you beverages, Celestial Seasonings bagged tea grew 1.3% in dollars in the latest 12 weeks, with both dollar and unit velocity pacing ahead of the category, and we gained share across both herbal and wellness segments. Our brand building investments are delivering us clients with the successful Magic in Your Mug campaign launched in the back half of fiscal 2023, and we have strong customer acceptance confirmed on innovation, including Sleepytime melatonin and throat cooler. Our International non-dairy beverage segment continues to gain momentum, building upon positive performance in June and growing 10.6% in the first quarter.”
The most consumed drink in the world, after water, is tea. As such, we have compiled a list of the top tea brands in terms of quality in 2024 for our readers today.
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Our Methodology
We used a consensus opinion-based rankings approach for this article. Information was gathered from a diverse variety of reliable sources (1, 2, 3, and more). We also consulted Quora and Reddit threads, like r/tea, r/AskReddit, and r/nutrition among others, where people not only discuss luxury tea brands but also share their experiences with different tea varieties that work well for them.
Each brand received a score based on the number of mentions. This means that each time it was mentioned in a source, it received a score of 1. Finally, we sorted the brands by their scores and identified the 15 highest quality tea brands in 2024. The brands have been ranked in ascending order based on their overall scores.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Highest Quality Tea Brands in 2024
15. Dilmah
Insider Monkey Score: 2
We start our list of the highest quality tea brands in 2024 with Dilmah. Founded by Merrill J Fernando, it offers unblended, garden fresh Ceylon tea that is picked and packed directly at source.
The Sri Lankan brand has a wide range of tea varieties, including black, green, herbal, and flavored teas, catering to different taste preferences and health needs.
14. Yogi Tea
Insider Monkey Score: 2
Yogi Tea, founded in 1984 and based in Oregon, the US, offers over 40 tea blends created with 140 exotic spices and botanicals that are ethically sourced.
13. Bigelow Tea
Insider Monkey Score: 2
Bigelow Tea, a family-owned brand, was founded by Ruth C. Bigelow in 1945. With over 150 flavors, the brand provides tea to suit every taste. Moreover, each Bigelow tea bag is wrapped in foil pouches in order to ensure the fullest flavor, freshness, and aroma.
12. Stash Tea
Insider Monkey Score: 2
Stash Tea was founded in 1972 and offers a variety of tea options that are available in both loose and teabag form to accommodate a variety of palates. Moreover, the tea brand takes great satisfaction in the fact that all of its packaging is compostable and Non-GMO Project Verified.
It is among the highest quality tea brands in 2024 on our list.
11. Tetley
Insider Monkey Score: 3
Tetley, founded in England by Joseph and Edward Tetley, is a tea brand with a history dating back 180 years. With a presence in more than 40 countries, the brand offers a broad variety of tea options, from traditional black tea to herbal blends, to suit a range of taste preferences.
Tetley is a wholly owned subsidiary of Tata Consumer Products, an Indian consumer goods company and a part of the Tata Group, since 2000.
10. Celestial Seasonings
Insider Monkey Score: 3
Established in 1969, Celestial Seasonings is an American tea company that specializes in herbal teas but also sells black, green, wellness, and cold brew iced teas. Celestial Seasonings currently serves over 1.6 billion cups of tea annually.
9. Tea Forte
Insider Monkey Score: 4
Tea Forte, based in Maynard, Massachusetts, strives to stand out from the crowd with its elegantly handcrafted, FDA-approved pyramid infusers (essentially a sachet tea bag). Customers can choose from over 65 tea blends offered by the brand, ranging from classic Earl Grey to the award-winning Blueberry Merlot.
Tea Forte is one of the highest quality tea brands in 2024. It provides fine teas to over 35 countries.
8. Tazo
Insider Monkey Score: 5
Next up is Tazo, one of finest tea brands in the world. Founded in 1994, the brand offers an incredible variety of teas ranging from classic Earl Grey to unique mixes such as Wild Sweet Orange.
The tea brand was bought by Starbucks Corporation (NASDAQ:SBUX) in 1999 for $8.1 million, and in 2017, it was sold to Unilever PLC (NYSE:UL) for $384 million. Adding to this, in 2021, Unilever PLC (NYSE:UL) agreed to sell its tea business, which included brands like Tazo, Lipton, and PG Tips among others, to CVC Capital Partners for 4.5 billion euros ($5.1 billion).
7. Twinings
Insider Monkey Score: 5
Twinings, founded by Thomas Twining in 1706, is a marketer of tea and other beverages, including coffee, hot chocolate and malt drinks. The brand offers a lot of different tea varieties, including black, herbal, green, wellness, cold infusion, white, oolong, decaf, organic, chai, and even cold brew tea, to tea lovers in more than 130 countries around the world.
6. Vahdam
Insider Monkey Score: 6
Vahdam is an Indian tea brand. This award-winning, sustainable and ethical wellness brand provides India’s finest teas to consumers across the globe, and is endorsed by the likes of Oprah Winfrey, Ellen DeGeneres and Mariah Carey.
In addition, Vahdam teas are procured directly from tea growers in India, cutting out the middleman and ensuring that customers get the freshest, high-quality teas.
According to our methodology, Vahdam, available in over 100 countries, comes in at number six on our list of the highest quality tea brands in 2024.
Click to continue reading and see 5 Highest Quality Tea Brands in 2024.
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Disclosure: None. 15 Highest Quality Tea Brands in 2024 is originally published on Insider Monkey.