Functional Tea Market: Worldwide Industry Analysis and Business Opportunity and Forecast 2018 to 2023

Market Overview:
Global Functional Tea Market is projected to grow at the CAGR of 4.4%. Growing demand for healthy hot beverages from all consumer groups is driving the growth of functional tea market. Increased consumption of functional tea in developing countries is influencing key players to introduce different variety of functional tea in the market. Advancement in farming practices of tea and innovation in flavors and ingredients is supporting the growth of the market. Availability of resources and large consumer base is creating huge opportunity for key players to expand their business in Asia Pacific region especially in China and India.

Rising health awareness among consumers has boosted the sales of herbal functional tea, longjing functional tea and fruit functional tea across the globe. Key players with large variety of product are getting attention from consumers as acceptance of new type in functional tea has increased among consumers. The functional tea market has grown significantly in China, India Turkey and Indonesia as these countries are reach with resources compare to other countries in the world.

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Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major Functional Tea market players. It further includes product portfolios, developments of leading major players which includes

Wuhan z-Micro Unite S&T Co., Ltd. (China)
Tata Tea Limited (India)
Herbaty Szlachetne Sp. Z O.O. (Poland)
The Mate Factor (U.S.)
Organic India (India)
Guangzhou Lohas Biological Technology Co., Ltd (China) and
Godrej Tea (India)

Regional Analysis:
The Functional Tea Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific has the major market share followed by North America. Most of the major tea producing countries are located in Asia Pacific region which is the key factor behind the major market share of Asia Pacific region. Functional Tea market in Asia Pacific region is growing at significant rate due to increasing consumption of functional tea in countries like China and India where large consumer base is available.

Key Findings:
Functional tea market in Asia Pacific region is growing at higher rate
Top five exporters of functional tea are Kenya, China, Sri Lanka, India and Indonesia

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Segments:
Functional tea market has been segmented on the basis of type which includes fruit tea, herbal tea, longjing tea, flower tea and others. Herbal Tea holds the major market share and it is growing at moderate rate due to increasing demand of other types of functional tea.
Functional tea market has been segmented on the basis of form which includes broken tea, loose tea, instant tea powder and others. Instant powder tea is growing at higher rate compare to other forms of tea
Functional tea market has been segmented on the basis of function which includes heart health, weight loss, detox and others
Functional tea market has been segmented on the basis of packaging which includes can, bag, bottle, sachet and others

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This release was published on openPR.