Herbal Tea Market Size by Consumption Ratio of Key Players| Forecast 2030
Herbal Tea Market Scope
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 owing to its health benefits. This has
been a crucial standpoint for the herbal
tea market size, as the customer base is expanding at a promising rate
across countries. Herbal tea 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 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.
Many of the firms are continuously introducing innovative
novelty products to capture a bigger share in the global industry. To
illustrate, in October 2020, Weikfield launched Herbal Infusions and Organic
Green Teas in India. Considering the consumer need for wellness, better
immunity and health, the herbal tea has been infused with a few ayurvedic herbs
such as Sunthi, Tulsi, Black Pepper and Cinnamon. These herbal infusions work
against flus, respiratory conditions, and have a lot of antioxidants.
Affluent Vendors
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
The herbal tea market 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 they are 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 and
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 is available in the herbal
tea market size include tea bags as well as loose-leaf. Tea bags have remained
the top segment since 2018 and have witnessed robust demand since they are
small, porous, and 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.
Regional Outlook
Some of the herbal
tea market overview 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 out in the world as the biggest consumer and producer
of herbal tea and is on track to be the most lucrative herbal tea market in the
region. Exploding populations, rising disposable income, a 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
herbal tea 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
herbal tea market gain strength in South America, particularly in Argentina,
Peru, and Brazil.
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its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
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