Vietnam's Tea Exports Soar in 2024: A Promising Year for Growth

In 2024, Vietnam's tea exports achieved remarkable growth in both volume and value compared to 2023. With a surge in demand across global markets, some countries increased their purchases by an astonishing 50% to 230%. This exceptional performance sets the stage for Vietnam’s tea exports to surpass $250 million in annual revenue.

Key Achievements in 2024

Vanguard Business Information LLC specializes in Vietnam business information and financial data on exporting companies. Focusing on industries like tea exports provides reliable insights to support informed decision-making and risk management. One of its source is General Statistic Office and Vietnam Customs.

According to the General Department of Customs, Vietnam exported 12.6 thousand tons of tea in November 2024, generating $22.6 million in revenue. While this marked a slight decrease of 12.6% in volume and 13.7% in value compared to October 2024, it reflected year-over-year growth of 2.6% in volume and 2.2% in value compared to November 2023.

For the first 11 months of 2024, tea exports reached an impressive 132.9 thousand tons, with revenue hitting $234.6 million, showcasing a robust growth of 25.4% in volume and 26.9% in value compared to the same period in 2023.

Export Prices Hold Steady

The average export price of Vietnamese tea in November 2024 stood at $1,793.4 per ton, a slight decline of 1.3% compared to October. However, for the first 11 months, the average price increased by 1.3% to $1,764.8 per ton, reflecting stability and value appreciation in global markets.

Global Demand Drives Positive Forecasts

With double-digit growth and increasing global demand, Vietnam’s tea exports are projected to reach 136.5 thousand tons by 2030, growing at an average annual rate of 0.82%. This will account for 80% of the nation’s tea production. The focus will shift towards exporting premium-quality tea to the EU, alongside continued growth in key markets such as Pakistan, China, Russia, and Indonesia.

Leading Export Markets in 2024

• Pakistan: A 24.7% increase in volume and 34.3% in value year-over-year.
• China: A staggering 177.4% growth in volume and 85.2% in value.
• United States: A rise of 32.5% in volume and 48.2% in value.

While some markets like Iraq, UAE, and the Philippines saw a decline, strong performances in Poland (+85.1% in volume, +79.8% in value) and Indonesia (+47.9% in volume, +53.9% in value) highlight Vietnam’s expanding reach.

Taiwan's Tea Imports: Vietnam Retains Market Dominance

Taiwan, a major tea importer, saw its imports decline for the third consecutive month in October 2024, totaling 2.25 thousand tons and generating $6.43 million in revenue. However, despite a dip in volume, Vietnam remains Taiwan’s largest tea supplier, accounting for 52.7% of total volume and 31.7% of total value.

For the first 10 months of 2024, Taiwan imported 12.06 thousand tons of Vietnamese tea, worth $20.57 million, reflecting minimal changes year-over-year (-0.05% in volume and -0.1% in value). This consistency underscores Vietnam’s strength in maintaining its position despite global challenges.

Vietnam’s Top Tea Export Companies in 2024

The following companies lead the charge in Vietnam's thriving tea export industry:

(Source: Preliminary statistics from the General Department of Customs, for reference only.)

Looking Ahead to 2025

With growing global tea consumption, Vietnam is poised for another promising year in 2025. The focus on quality and market diversification ensures Vietnam remains a key player in the global tea market, setting new benchmarks for excellence and growth.