Functional Tea Market by Type and Geography - Forecast and Analysis 2019-2023
functional tea market analysis considers sales from herbal tea, fruit tea, flower tea, and other types. Our report also considers the sales of functional tea in APAC, Europe, North America, South America, and MEA. In 2018, the herbal tea segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as its medicinal properties that can cure various body ailments will play a significant role in the herbal tea segment to maintain its market position. Also, our global functional tea market report looks at factors such as health benefits of functional tea, growing demand for organic functional tea, and new product launches. However, the availability of counterfeit functional tea products, availability of substitutes, and a preference for DIY at-home functional tea recipes may hamper the growth of the functional tea industry over the forecast period.
Global Functional Tea Market: Overview
Health benefits of functional tea
Consumers prefer to consume functional tea over other beverages because it contains herbs and medicinal plant extracts that are beneficial for the body. Tea products infused with healthy functional ingredients not only protect against colds but also improve digestion and immunity. Vendors are offering tea products that contain hibiscus flower petals that help in minimizing blood sugar and blood pressure levels. .
Similarly, tea products containing ginger, citrus, and mint help to relax a tired body. The growing consumer awareness about the availability of such tea products and their benefits will boost the sales of these products. This demand for low-calorie chocolate will lead to the expansion of the global functional tea market at a CAGR of almost 5% during the forecast period.
Premiumization of functional tea products
Vendors in the global functional tea market offer a wide range of products with different flavors, qualities, volumes, and prices. Consumers prefer high-quality functional tea products containing natural or organic ingredients that provide the required health benefits. Premium functional tea products are marked with quality assurance stamps from the USDA and others, which regularizes the product quality. Also, with changing lifestyles across the world, consumers have become health conscious and prefer premium beverages, including functional tea, to improve their health. Therefore, affluent consumers opt for premium functional tea products even if they are highly-priced. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global functional tea market during the forecast period 2019-2023, click here.
With the presence of several major players, the global functional tea market is moderately fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading functional tea manufacturers, that include Arteasans Beverages LLC, Fito Ltd., Godrej Group, Granum Inc., Herbaty Szlachetne Sp. z o.o, Numi Inc. PBC, ORGANIC INDIA, Tata Global Beverages Ltd., The Republic of Tea, and Unilever Group.
Also, the functional tea market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.