Hemp Tea Market Expected to Garner $392.8 million in the 2022 to 2031 , Growing at 22.1% CAGR

Allied Market Research published a report, titled, "Hemp Tea Market by Distribution Channel (Online/Direct-to-Consumer, Convenience Stores, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global hemp tea industry generated $56.2 million in 2021, and is estimated to reach $392.8 million by 2031, witnessing a CAGR of 22.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers and Opportunities

Various benefits offered by hemp tea such as relief from anxiety, improvement of sleep quality, and easing of chronic pain, relief from nausea & muscle cramps, and alleviation of high blood pressure fuel the growth of the global hemp tea market. On the other hand, the presence of well-known hemp tea producers in the market and their continued efforts to create new hemp products present new opportunities in the market.

Major Key Companies Involved:

ItsHemp

Willie's Remedy

Clipper Teas

Buddha Teas

Traditional Medicinals

The Tea Can Company

Cannabiniers

Colorado Harvest Company

Charlotte's Web, and Green Roads

Regional Analysis:

Asia Pacific to achieve the fastest growth by 2031

Based on region, Asia Pacific is anticipated to manifest the fastest CAGR of 23.1% during the forecast period, 2022-2031, as a majority of the countries in the region such as India, China, and Australia approved the use of hemp for food and many nations are in the process of granting regulatory go-ahead. However, North America held the largest market share in 2021, accounting for more than two-fifths of the global hemp tea market, and is likely to lead the trail throughout the forecast period. This is owing to the high product penetration and legalization for marijuana in this region. The other regions studied in the report include LAMEA and Europe.

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A number of opportunities for market expansion are also projected to arise throughout the projection period as a result of the rising popularity of herbal tea among customers who are health-conscious around the world and the ongoing product launches of several new flavors of hemp tea by leading players. The market expansion is attributed to the presence of well-known hemp tea producers in the market and their continued efforts to create new hemp products, including hemp tea tastes.

Key Findings of the Study

-> Based on distribution channel, the online/direct-to-consumer sub-segment emerged as the fastest growing and dominating sub-segment in 2021

-> Based on region, the North America market registered the highest market share in 2021, and the Asia-Pacific region anticipated to be the fastest growing in the market during the forecast period

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The report offers a comprehensive analysis of the global hemp tea market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the hemp tea market growth.

Check out more related studies published by AMR Research:

Green Tea Market - https://www.alliedmarketresearch.com/green-tea-market

Organic Tea Market - https://www.alliedmarketresearch.com/organic-tea-market

Kombucha Market - https://www.alliedmarketresearch.com/kombucha-market-A10962

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