Vietnam is currently the world's eighth largest tea exporter.

According to statistics from the General Department of Customs, in the second quarter of 2024, Vietnam's tea exports reached 35.4 thousand tons, worth 62.7 million USD, an increase of 31.1% in volume and 35.5% in value compared to the same period in 2023. The average export price of tea in the second quarter of 2024 reached 1,772.4 thousand USD/ton, an increase of 3.2% compared to the second quarter of 2023.

Overall, in the first six months of 2024, tea exports reached 62,000 tons, valued at 106 million USD, an increase of 28.3% in volume and 30% in value compared to the same period in 2023. The average export price of tea reached 1,710.0 USD/ton, an increase of 1.3% compared to the same period in 2023.

In the second quarter of 2024, tea exports showed a strong upward trend thanks to recovering demand in many markets. Green tea dominated exports, accounting for 61.6% of the total export value; followed by black tea, oolong tea, and flower-infused tea.

Specifically, green tea exports in the second quarter of 2024 reached 19.9 thousand tons, valued at US$38.6 million, an increase of 64.4% in volume and 61.8% in value compared to the second quarter of 2023. Green tea exports mainly went to Asia, accounting for 97.8% of the volume and 97.7% of the value in the second quarter of 2023. Only a small amount of green tea was exported to the Americas, Europe, and Oceania. Overall, in the first six months of 2024, green tea exports reached 32.4 thousand tons, valued at US$62.1 million, an increase of 56.3% in volume and 54% in value compared to the same period in 2023.

Next, black tea exports in Q2/2024 reached 13.7 thousand tons, valued at US$17.3 million, an increase of 18.4% in volume and 10.8% in value compared to the same period in 2023. Black tea exports mainly went to Asia, accounting for 71.3% of volume and 68.3% of value compared to Q2/2023; followed by Europe, accounting for 14.5% of volume and 17.2% of value; the Americas, accounting for 13.4% of volume and 13.7% of value; and a small proportion to Oceania and Africa. Overall, in the first six months of 2024, black tea exports reached 26 thousand tons, valued at US$33.4 million, an increase of 17.8% in volume and 11.5% in value compared to the same period in 2023.

Vietnam - the world's 8th largest tea export market.

The EU is the largest tea import market globally. According to statistics from the European Statistical Agency, in the first four months of 2024, EU tea imports reached US$401 million, an increase of 2.9% compared to the same period in 2023. The value of EU tea imports from Vietnam accounted for only 0.19% of the total import value.

Thus, the market potential remains very large, and there are many opportunities to expand market share for the Vietnamese tea industry. However, the EU is increasingly imposing more regulations on green and clean economy , requiring export businesses to update their information to meet the specific consumer demands of this market.

The 5 main tea importing markets in the world and the proportion of tea imports from Vietnam.

Sources: Eurostat, Pakistan Tea Association, U.S. International Trade Commission, ITC; Hong Kong Statistics Office (China)

Pakistan is the world's second-largest tea importer. According to statistics from the Pakistan Tea Association, tea imports into the country reached US$272 million in the first six months of 2024, an 11% increase compared to the same period in 2023. This increase in tea imports reflects the popularity of this beverage among Pakistani consumers, despite economic pressures. Tea remains a staple in Pakistani households and is deeply ingrained in the country's culture and society.

However, Pakistan's share of tea imports from Vietnam remains low and is trending downward. Due to various barriers, particularly a lack of market information, Vietnamese tea businesses find it difficult to access and secure large orders from Pakistani companies.

Notably, among the world's leading tea importing markets, the US market recorded high growth in the first five months of 2024. According to statistics from the US International Trade Commission, in the first five months of 2024, US tea imports reached $222 million, an increase of 18.1% compared to the same period in 2023.

In particular, the United States has increased its imports of tea from Vietnam; however, Vietnam's market share of tea in the US remains low, and there are still many opportunities to expand its market share in this market.

With rising incomes and increasing consumer spending, the US is expected to see a significant resurgence in tea imports. While the US is a major tea import market, it is also a demanding one with high standards for quality and food safety. To boost exports and better exploit large, potentially lucrative markets like the US, tea producers and exporters need to invest in processing, paying particular attention to food safety and hygiene.

According to statistics from the International Trade Centre (ITC), in the first four months of 2024, UK tea imports reached US$114 million, a 13.5% increase compared to the same period in 2023. In the UK, tea is a staple beverage, with a significant portion of consumers across all income levels drinking tea daily. Therefore, the UK is also a very promising market for Vietnamese tea to expand, as its share currently only accounts for 0.2% of the total value of UK tea imports in the first four months of 2024.

Hong Kong (China) ranks fifth among the world's largest tea import markets, but its tea import demand is showing a sharp decline. According to statistics from the Hong Kong Statistics Department, tea imports in the first six months of 2024 reached US$56 million, a decrease of 33.2% compared to the same period in 2023.

Due to a sharp decline in market demand, the proportion of tea imported from Vietnam by Hong Kong (China) also decreased significantly in the first six months of 2024, accounting for only 0.01% of the total import value, down from 0.15% in the same period of 2023.

The demand for imported tea in major global markets is showing signs of recovery, which is a positive sign for the Vietnamese tea industry, giving it the opportunity to boost tea exports in the coming period.

Although Vietnam is the 8th largest tea export market in the world by value (according to statistics from the International Trade Centre - ITC), the proportion of tea imported from major global markets to Vietnam remains very low. Therefore, the opportunity to expand tea market share is very promising.

However, to expand its market share in the global tea market, the Vietnamese tea industry needs to focus on improving product quality and diversifying its product range; promoting the production of high-quality, organic, and safe teas, and emphasizing modern processing and packaging methods that meet international standards.

In addition, it is necessary to strengthen the promotion of Vietnamese tea brands in the international market, participate in prestigious tea fairs and exhibitions to introduce products and connect with potential partners.