Herbal Tea market value, Future Estimations and Key Industry Segments Poised for Strong Growth in Future 2027
Top
Boosters and Deterrents
The
global market’s growth in recent years has been commendable, in the wake of
evolving consumer lifestyles and the resultant surge in the importance of Herbal
Tea market value owing to its health benefits. This has been a crucial
standpoint for the Herbal Tea market value, as the customer base is expanding at
a promising rate across countries. Herbal Tea market value is a natural
beverage as it generally contains lavender, rose, chamomile and hibiscus, which
is why its demand has been skyrocketing among health conscious people. The
market’s momentum is also sped up by the seal of approval that is given by
medical practitioners for its consumption while the rising inclination of
consumers towards healthier food and beverages could also bolster the product
demand.
Since
significant caffeine levels can cause severe ailments in the body, a growing
number of healthcare practitioners condemn its use. The fact that Herbal Tea
market value is devoid of any caffeine; the global market has been witnessing
robust demand from consumers worldwide. The herbal tea’s autoxidizing benefits
also enhance its demand among consumers. Given the tea’s fat-burning property,
it has become a huge hit among those striving to lose weight and also emerged
as a vital game changer for the healthcare industry.
Key
Players
The affluent vendors highlighted in the
MRFR market study include Associated British Foods PLC (UK), Dilmah Ceylon Tea
Company PLC (Sri Lanka), The Hain Celestial Group, Inc. (US), Adagio Teas (US),
Organic India Pvt. Ltd. (India), Harney & Sons (US), Unilever PLC
(UK), Apeejay Surrendra Group (India),
Tata Global Beverages Limited (India), Barry's Tea (Ireland), to name a few.
Market Segmentation:
Herbal Tea market value can be dissected with
respect to type, function, form and distribution channel.
Type-wise, the market segments are dandelion,
cinnamon, ginger, chamomile, blends, turmeric, and more. The highest share in
2018 was seized by the blends segment, and it is anticipated that it can touch
USD 1,405.1 million by 2025-end. Blends’ observe significant demand as they
offer several health benefits, given that it is made of two or more herbs. The
abundance of herbal tea blends available in developed as well as developing
countries also contributes to its demand.
The function-based segments are multifunctional,
gut & digestive health, cognitive health, and others. The biggest market is
owned by multifunctional herbal teas, which could also procure the fastest
growth rate during the given period.
The various forms in which Herbal Tea market value
is available in the market include tea bags as well as loose-leaf. Tea bags
have remained the top segment since 2018 and witness robust demand since they
are small and are porous and also quite convenient for use in households as
well as outside homes.
Store-based and non-store-based are the key
distribution channels in the global market. Store-based channels are at the top
and have been since 2018 since supermarkets and hypermarkets are responsible
for the majority of sales. The non-store-based distribution channels can
exhibit a better advancement rate over the appraisal period.
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Regional Analysis
Some of the primary markets for herbal tea are North
America, Asia Pacific or APAC and Europe along with RoW or Rest of the World.
As of 2018, APAC was the market leader with a share
of 36.47% and still remains dominant, primarily owing to the fact that tea is a
traditional beverage and the region is known for being its leading producer in
the world. China stands in the world as the biggest consumer and producer of
herbal tea and is on track to be the most lucrative market in the region.
Exploding population, rising disposable income, surge in health awareness among
consumers and the emerging wellness and fitness trend are cited as some of the
top growth boosters in the APAC market.
North America’s growth is largely backed by the
escalating preference for organic herbal tea, in light of a soaring number of
consumers gaining interest in organic beverages and food products. The US
remains the top market in the region, with Canada emerging as the second most
lucrative country. The mounting obesity cases have been encouraging consumers
to opt for herbal tea. The health-boosting claims of the tea are also helping
the market gain strength in South America, particularly in Argentina, Peru and
Brazil.
NOTE: Our Team of Researchers
are Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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