Herbal Tea Market Research Report by Key Players Strategy | ITO EN, Tata Global Beverages Ltd and The Unilever Group| Upcoming Trend by Forecast to 2023

Market Overview:

Herbal tea is exclusively prepared from plant sources such as spices and herbs. Herbal tea has a higher percentage of antioxidants compared to other form of tea which makes it a preferred choice for the health-conscious consumers. The most common ingredients used in herbal tea are cinnamon, dandelion, chamomile, ginger, turmeric, and lemongrass. Herbal Tea Market is witnessing an impressive growth over the last few years. This is attributed to the rising health conscious people both in developed and developing economies. Also, increasing disposable income of the consumers is anticipated to be the significant reason for the growth of the herbal tea market during the forecast period. Increasing cardiovascular diseases and obesity cases are anticipated to further fuel the sales of herbal tea during the forecast period.

The sale of herbal tea is growing exponentially as consumers are opting for a healthy lifestyle. Many key players in beverages market are investing in R&D to focus on product development which enriches the flavors in herbal tea. Moreover, herbal tea is gaining popularity across the globe, as the demand for healthy food & beverages has been increasing in recent years. These factors will support the herbal tea market and is estimated to grow at the rate of about 5.1% from 2017 to 2023. Additionally, key players in the global herbal tea market are emphasizing to enhance their investment in the product development to extend the product line. Also, the companies are inclined to increase their footprints across the world by acquiring local and regional players. Apart from that, the companies are introducing their products in the developing economies to penetrate the untapped market. However, limited availability of spices & herbs may hinder the market growth over the review period. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 5.1% of herbal tea market during the forecast period 2017-2023. 

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Major Key Players Updates:

Some of the key players profiled in the Global Herbal Tea Market ITO EN (North America) Inc. (U.S.), Dilmah Ceylon Tea Company Plc. (Sri Lanka), R.C. Bigelow, Inc. (U.S.), Associated British Foods Plc. (U.K), Tata Global Beverages Ltd. (India), The Unilever Group (U.K), Barry's Tea Ltd. (Ireland), Celestial Seasonings, Inc. (U.S.), Harney & Sons Tea Corp. (U.S.), and Mighty Leaf Tea Company (U.S.)

Regional Analysis:

Herbal Tea Market is segmented into Europe, Asia Pacific, North America and rest of the world (RoW). Asia Pacific is dominating the global herbal tea market followed by North America. High growth in emerging economies such as China, India, Japan, Australia, and the Latin American countries, offers ample opportunities for expansion to major players.

The North American herbal tea market is projected to grow at a steady pace in the review period. The high consumption of tea in growing economies of Asia Pacific and Latin America and growing demand for healthy beverages especially in China and India will be the crucial factor underlining the market growth.

Segment:

Herbal Tea Market is segmented into Ingredient, Function, Packaging and Distribution Channel.

Based on the ingredient, it is segmented into Ginger, Chamomile, Cinnamon, Dandelion, Turmeric, Lemongrass, and others. Among all the ingredients, the cinnamon segment holds the major market share followed by the segment dandelion.

Based on the function, it is segmented into cognitive health, general wellness, gut & digestive health, and others. Among all the functions, the cognitive health segment is dominating the market.

Based on the packaging, it is segmented into tea bags, loose leaf, powder, and others. Among all the packaging types, the tea bags segment is dominating the market followed by the loose-leaf segment owing to the ease of use and handling.

Based on the distribution channel, it is segmented in store based, and non-store based.  Among both, the store-based distribution channel is dominating the market.

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Table of Content

Chapter 1. Methodology And Scope

Chapter 2. Executive Summary

Chapter 3 Herbal Tea Market Insights

Chapter 4 Herbal Tea Market By Ingredient Insights

Chapter 5 Herbal Tea Market By Function Insights

Chapter 6 Herbal Tea Market By Packaging Insights

Chapter 7 Herbal Tea Market By Distribution Channel Insights

Continued……

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This release was published on openPR.