Pune, 06, Dec 2022: According to the “Craft Tea Market” report published by Maximize Market Research, the market is expected to grow from USD 330.21 Million in 2021 to USD 24.89 million in 2029, at a CAGR of 4.2 percent during the forecast period from 2022 to 2029.
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Craft Tea Market Overview
Craft Tea is usually different from other teas on the market. Craft Tea is a natural and environmentally friendly product derived from a renewable source. Any craft tea beverage’s healthy hydration properties show its capacity to maintain proper fluid balance in the body as well as its metabolism-regulating properties. Thus, awareness and demand for craft tea are increasing due to its health benefits, as it helps to burn fat, reduces unhealthy appetite, and acts as a natural appetite suppressant, which is likely to drive the sales of Craft tea during the forecast period.
Craft Tea Market Dynamics
Craft Tea Market growth is driven by the health advantages associated with consumption of craft tea. Craft tea has several qualities, and most of the health benefits have been identified by researchers. Modern tea brands have e-commerce sites and are familiar with such medicinal properties. There are several reputable brands on the market that provide exotic collections of designer teas, and consumers can purchase this tea via online platforms. Craft tea also contains significant levels of anti-inflammatory and antioxidant compounds, which help to boost the immune system and fight colds and flu. Craft tea is also high in nutrients, which assist to boost the immune system. The abovementioned health advantages are expected to drive demand for the Craft Tea market over the forecast period.
The global Craft tea market is highly competitive, with strong competitors providing a diverse product portfolio, resulting in fierce competition among existing players. The leading players in the Craft tea market have a strong global presence. The worldwide Craft Tea market is currently driven by the large number of new companies that enter the market each year to compete with each other and raise the graph. Companies are continually trying to provide consumers new and innovative products that meet their demands.
The lack of understanding regarding proper farming practises for the production of Craft tea hampers market growth. Tea farmers in general lack the knowledge to convert their traditional growing practises into more productive and sustainable one. Craft tea has a higher production cost, which limit the growth of the Craft Tea market.
Craft Tea Market Regional Insights
Craft tea consumption is increasing in the Asia-Pacific region, owing to the health benefits of drinking tea and increasing public awareness of the dangers of carbonated beverages. New products and flavours, such as ready-to-drink tea, premium tea, and herbal and fruit fusions, are expected to boost the craft tea industry. The growing awareness of the health benefits of drinking tea for persons with high blood pressure, arthritis, and cardiovascular problems is expected to fuel future market growth.
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Craft Tea Market Segmentation
By product type
- Blooming craft Tea
- Active Craft Tea
- Floating Floss Craft Tea
By Distribution Channels
Craft Tea Market Key Competitors
- LUPICIA CO., LTD
- COFCO, Teasenz
- California tea house
- Panella Foods and Beverages Private Limited
- Bettys & Taylors Group Ltd
- FMS Consumer Products Pvt Ltd
- Bharat Group
- Stash Tea
- AHCOF INTERNATIONAL
- Blue Lake Group
- Fu Ming Fang
- Chayuanchuanshi Tea
- China Tea
- Fuan Gongfu Tea
Key questions answered in the Craft Tea Market are:
- What is the Craft Tea?
- What is the growth rate of the Craft Tea Market over the forecast period?
- What is the nature of competition in the Craft Tea industry in developed and developing economies?
- Who are the key players in the Craft Tea Market?
- Who are the market leaders in Craft Tea in Asia Pacific?
- Who are the market leaders in Craft Tea Market in Japan and China?
- Who are the market leaders in Craft Tea Market in India, China, Japan and South Korea?
- What are the factors affecting growth in the Craft Tea Market?
- Who held the largest market share in Craft Tea Market?
- What are the factors for the growth of Asia-Pacific region in Craft Tea Market?
Maximize Market Research is leading research firm, has also published the following reports:
Fruit Tea Market: Fruit Tea Market size was valued at US$ 2.88 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 9.6% through 2022 to 2029, reaching nearly US$ 6 Bn. The global fruit tea market is increasing due to the growing popularity of the beverage among the health-conscious portion of the population. The flavour and taste of their favourite fruits are enhanced by these teas.
Bubble Tea Market: Bubble Tea Market size was valued at US$ 2.71 Bn. in 2021 and the total revenue is expected to grow at 8.9% through 2021 to 2029, reaching nearly US$ 5.36 Bn. Bubble tea has made a real impact in the market and has become popular due to its unique taste and tapioca balls which was USP of the bubble tea. The variety of flavors, optional additions, and distinct taste of each flavor has created major popularity in teenagers and kids.
Coffee Beans Market: Coffee Beans Market was valued at USD 29.90 Billion in 2021, and it is expected to reach USD 50.62 Billion by 2029, exhibiting a CAGR of 6.8 % during the forecast period (2022-2029). Coffee is one of the most widely drank beverages on the planet. Coffee is becoming increasingly popular among the youthful population, particularly in nations such as India, China, and the Philippines, fueling demand for coffee beans. Coffee intake is driven by a variety of factors, including utilitarian, taste and pleasure, habit, tradition, culture, and socialising.
Coffee Market: Coffee Market size was valued at US$ 115.20 Bn. in 2021 and Arabica is one of the dominating segments reviewed in the report is dominating Global Coffee Market. The coffee market is booming as consumption increases for all age groups and global coffee exports total 10.61 million bags in 2021, creating great demand around the world.
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