Herbal Tea Market 2020 Global Industry Analysis, Trends, Size, Share, Growth Insight, Leading Players, Regional Analysis with Forecast To 2025

Market Highlights

Global Herbal Tea Market is estimated to be valued at USD 4,226.9 Million by 2025, registering a CAGR of 4.94% during the forecast period. Herbal tea refers to the mixture of dried leaves, seeds, grasses, nuts, barks, fruits, flowers, or other botanical elements that provide taste and various health benefits. Herbal tea may consist of a single ingredient or a blend of several herbal ingredients.

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Asia-Pacific was the largest market for herbal tea in 2018, and the region is expected to continue to dominate the global market during the review period. Tea being the popular beverage in this region traditionally followed by increasing health-conscious population is leading to increased sales of herbal tea. China is the major consumer of herbal tea across the globe.

Growing consumer awareness about health and wellness is driving the demand for functional beverages. Consumers are inclined toward beverages that assist in enhancing certain body functionalities. This growing trend of functional beverages has increased the scope of the global herbal tea market. Moreover, the key players in the global herbal tea market are continuously investing in product innovation to increase their sources of revenue. Looking at the ongoing trends in the tea market, they have been continuously working on increasing their product variety.

Key Players

Market Research Future recognizes 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), and Adagio Teas (US) as the Key Players in the Global Herbal Tea Market.

Segmental Analysis

The Global Herbal Tea Market has been segmented on the basis of Type, Function, Form, Distribution Channel, and Region.

By Type, the market has been divided into cinnamon, dandelion, chamomile, ginger, turmeric, blends, and others. The blends segment accounted for the largest market share in 2018 and is projected to exhibit the highest CAGR during the forecast period. The demand for blends of herbal tea is high, owing to the multiple health benefits offered by the combination of two or more herbs. Moreover, the availability of herbal tea blends is exceptionally high in both developed and developing economies.

By Function, the market has been segmented into cognitive health, gut & digestive health, multifunctional, and others. The multifunctional segment accounted for the highest market share and is estimated to be the fastest-growing segment during the forecast period. Owing to multiple health benefits associated with a single product, this segment is in high demand among the consumers.

Based on the distribution channel, the market has been segmented into store-based and non-store-based. The store-based segment has further been divided into supermarkets & hypermarkets, specialty stores, and others. The store-based segment accounted for the larger market share in 2018 with supermarkets & hypermarkets contributing to the majority of herbal tea sales. Consumers prefer store-based channels as they provide a one-stop shopping experience. However, the non-store-based segment is projected to exhibit a higher growth rate during the review period.

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Regional Analysis

Geographically, the global herbal tea market has been segregated into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Asia-Pacific accounted for the dominant share of the global market in 2018, with China being the major consumer of herbal tea. However, North America's herbal tea market is projected to exhibit the highest CAGR during the forecast period. The US is a major market for tea in North America. Europe is a lucrative market for manufacturers of herbal tea. The regional market accounted for a 36.70% market share in 2018. The Middle Eastern herbal tea market is projected to be the fastest-growing in the rest of the world during the forecast period with the market in the UAE driving growth.

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This release was published on openPR.