New York, US, July 19, 2021 (GLOBE NEWSWIRE) -- Herbal Tea Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Herbal Tea Market Information by Type, Function, Form, Distribution Channel and Region - Forecast till 2025”, the market is projected to reach USD 4,226.9 Million by 2025 registering a CAGR of 4.94%.
Market Scope:
The growth scope of the fruit puree industry looks promising with sales continuing to boom across the globe. Surge in disposable income, rising preference for organic products, and urbanization will ensure a rapid upward growth trajectory for the global market in the following years.
Primary Growth Boosters:
Product innovation combined with continuous launch of local flavors by players to grab the attention of a higher number of customers are expected to facilitate market growth in the following years. Aesthetic packaging designs and the emerging trend of green packaging among manufacturers should also ensure steady market demand throughout the conjectured period.
Focus of manufacturers on infusing natural and organic ingredients in herbal tea has helped spark the interest of the health enthusiasts. Moreover, surge in promotional activities to elevate brand awareness will also open profitable avenues for the global market in the ensuing years.
The thriving retail sector as well as the mounting popularity of the e-commerce sector is touted to be a significant opportunity to the major manufacturers in the worldwide market. Established firms are inclining towards online shopping channels since these require lower expenditure compared to the traditional retail outlets.
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Competitive Landscape:
The Major Vendors in the Global Herbal Tea Market are:
- Tata Global Beverages Limited (India)
- Unilever PLC (UK)
- Organic India Pvt. Ltd. (India)
- The Hain Celestial Group Inc. (US)
- Associated British Foods PLC (UK)
- Barry's Tea (Ireland)
- Apeejay Surrendra Group (India)
- Dilmah Ceylon Tea Company PLC (Sri Lanka)
- Harney & Sons (US)
- Adagio Teas (US)
These vendors are focused on expanding their regional presence while launching newer and more innovative products via strategies that include collaborations, agreements, and partnerships. To cite a reference, in June 2021, Nectar Leaf introduced kratom infused tea in the European market with Pu'er, Hibiscus Mint, Chamomile, Sencha Green, Oolong Blue, and Lemon Ginger Green used as key herbs.
Market Restraints:
A large portion of the global population perceives herbal tea as a high-end, premium product and therefore, opts for alternatives like traditional teas or other beverages. This could be a major growth restraint in the coming years.
Browse In-depth Market Research Report (137 Pages) on Herbal Tea: https://www.marketresearchfuture.com/reports/herbal-tea-market-5420
COVID-19 Analysis
The lockdown imposed following the COVID-19 outbreak resulted in a massive economic downfall worldwide. Several companies and businesses had to be shut down while a number of industries faced with financial restraints.
However, the top herbal tea manufacturers have come to terms with the situation and have adopted several strategies that could help them remain resilient. As a result, the global industry continues to note steady demand despite the pandemic situation.
Market Segmentation
Major types considered in the report are dandelion, cinnamon, turmeric, chamomile, ginger, blends, and more.
Function-based segments are multifunctional, gut & digestive health, cognitive health, and others.
Forms in which different herbal teas are available in the market include tea bags as well as loose-leaf.
The main distribution channels are store-based along with non-store-based. The non-store-based channels could project highest growth from 2020 to 2025, as the e-commerce sector is witnessing rapid surge across the globe.
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Regional Analysis:
In view of the soaring awareness about health among consumers along with the subsequent increase in the preference for herbal beverages, APAC has successfully taken the lead in the global market. Rising disposable income combined with the escalating cases of arthritis, cardiovascular and osteoporosis diseases have also fostered the demand for herbal products among consumers. Convenience beverages are experiencing massive demand in the region, thanks to the improving living standards of the consumers. Growth in health concerns coupled with the surging consumption of a variety of herbal teas such as chamomile, Longjing, and more will further enhance the market share in the region. The APAC industry is also favored by the thriving food and beverage sector along with the preference for healthy drinks among consumers.
The United States houses a vast customer base for herbal tea, in conjunction with the soaring health consciousness among consumers. The market size is further enhanced by frequent new launches of new and exciting flavors, as well as the surmounting demand for convenience beverages among consumers leading a busy lifestyle. The extensive ranges of herbal tea offered by top manufacturers that come in attractive packaging are grabbing the attention of a lot of consumers, which translates into robust market demand in the region.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.