Unilever’s tea party may be winding down.

The consumer goods giant has kicked off a “strategic review” of its global tea business that could lead to the sale of famous brands such as Lipton and PG Tips.

The review comes as consumers brew less black tea — which accounts for two-thirds of Unilever’s tea segment — and drink more herbal varieties instead, company officials said Thursday.

“We’ve not reached a conclusion and all options remain on the table,” Unilever CEO Alan Jope said on a conference call with analysts.

Unilever’s US-listed shares rose 3.7 percent, to $59.85 on Thursday.

Unilever’s tea segment has seen growth in emerging markets and its premium herbal brand Pukka has performed well, according to the company, which said it has the world’s biggest tea business.

But sales of black tea — which generates about $3.3 billion in yearly sales around the world for the company — have dropped in developed markets for several years because of changing consumer tastes, Unilever said. The company also owns the Tazo and T2 brands.

“We have really seen this trend play out,” Jope said. “It’s not a short-term thing. It’s a long-term trend over a decade.”

Unilever announced the review despite denying that it was weighing a sale of its tea segment in November after the Telegraph newspaper reported that it would put the business on the auction block.

The company had just launched a review of its portfolio that month and wanted to clamp down on speculation about the future of its tea business, Jope said Thursday. He indicated that the review that’s now underway may not necessarily lead to a sale.

“When we’re thinking about these things, we’ll communicate transparently,” Jope said.

With Post wires