Tea has always had a strong market because people who love tea find it addictive in a positive way. Sometimes it is argued that tea is not good for health. For health-conscious people, the herbal tea market will one of the favorite markets. Due to various health benefits of herbal tea like weight loss, many key players in beverages market are investing in research and development (R & D), in order to find ways that might enrich the flavors in herbal tea. With the rising demand for healthy food & beverages, the market for herbal tea is growing rapidly. Other factors driving the global herbal tea market include its medicinal benefits, increased cardiovascular diseases, obesity cases, and antioxidant property of herbal tea that can block the oxidation of low-density lipoprotein and the cholesterol.
Market Research Future (MRFR) has published a research report about the global herbal tea market that infers success for this market with 5.1% CAGR (Compound Annual Growth Rate) between 2017 and 2023. According to this report, as long as the global beverages market is strong, herbal tea market has a massive opportunity for speedy growth. The launch of new health and wellness brand consisting of a full line of products including teas, facial tea beauty cream, herbal extracts, supplements and 28-day wellness kits is a growing trend which is expected to remain strong till the end of forecast period. The market is expected to grow faster in developed countries due to more health-conscious people there. However, the increase in the disposable income of developing countries is also likely to enhance the market growth.
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Top Key Players Analysis:
The key players in the global herbal tea market include Associated British Foods Plc. (UK), Barry’s Tea Ltd. (Ireland), Celestial Seasonings, Inc. (USA), Dilmah Ceylon Tea Company PLC. (Sri Lanka), Harney & Sons Tea Corp. (USA), ITO EN (North America) Inc. (USA), Mighty Leaf Tea Company (USA) R.C. Bigelow, Inc. (the USA), Tata Global Beverages Ltd. (India), and The Unilever Group (UK).
Latest Industry News:
An initiative taken by farmer Tony DiMaggio is set to make the farming of herbal tea sustainable. Passionate about sustainable agriculture, DiMaggio is growing twelve varieties of medicinal herbs in dense polycultures in order to make three different kinds of teas. 29 JUL 2018
Ethical start-up Aduna has launched a new range of herbal teas with baobab and moringa. 6 JUL 2018
The regional segmentation of the global herbal tea market segments the market into regions namely North America, Europe, Asia Pacific and rest of the world (RoW). During the forecast period, Asia Pacific is expected to retain its dominant position in the market. Due to various herbs being available in Asian countries, the production of herbal tea is also possible on a mass scale. Due to growing per capita disposable income and more awareness of health benefits among the consumers in developing economies, the market is growing in this region. The cream of the Asia Pacific market comprises of China, India, and Japan, followed by the rest of the Asia Pacific countries, with a sizable market in Indonesia.
During the forecast period, Europe has been projected to witness steady growth. The maximum revenue earned by Europe market comes from France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Europe. North America is estimated to show a slow growth owing to the mature market in the United States of America (USA). However, the forecast period predicts Latin American region emerge as a big market for herbal tea with high potential due to the rising disposable income in this region. After the USA, the biggest market in North America includes Canada and Mexico.
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The global herbal tea market has been segmented on the basis of the distribution channel, function, ingredient, packaging, and lastly, region. On the basis of the distribution channel, the market has been segmented into store-based distribution and non-store-based distribution. Non-store-based distribution comprises of distribution channels on e-commerce platforms. Based on function, the herbal tea has been segmented into cognitive health, general wellness, gut & digestive health, and others. Among all functions, the cognitive health segment dominates the market. Cognitive health is defined as a healthy brain is one that is able to perform all the mental processes that are collectively defined as cognition. By ingredient, the market has been segmented into chamomile, cinnamon, dandelion, ginger, lemongrass, turmeric, and others. Among these, the cinnamon holds the major market share, followed by the dandelion.
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