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Functional Tea Market worth $40.06 billion by 2030, growing at a CAGR of 8.90% - Exclusive Report by 360iResearch
Functional Tea Market | 360iResearch
The Global Functional Tea Market to grow from USD 22.04 billion in 2023 to USD 40.06 billion by 2030, at a CAGR of 8.90%.
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Functional tea contains natural ingredients such as herbs, fruits, flowers, spices, and other plant-based elements infused with traditional tea leaves to provide various physiological and therapeutic effects. Functional teas are considered healthier alternatives to carbonated soft drinks and sugar-laden beverages due to their inherent properties derived from natural ingredients. Rising awareness about health and wellness among consumers has driven demand for alternative beverages, including functional tea, that offer added benefits beyond hydration and taste sensation. Additionally, changing lifestyle trends with increasing emphasis on wellness practices, such as yoga and meditation, have fostered the demand for functional tea. Stringent regulatory frameworks governing food safety and the availability of counterfeit products are hampering the market growth. Increasing investments in R&D activities to create unique functional tea blends using exotic botanicals and nutraceutical ingredients that cater to specific health concerns such as stress management, digestive support, and cognitive enhancement is anticipated to expand the potential of the market. Moreover, the adoption of sustainable sourcing practices and eco-friendly packaging materials by market vendors is anticipated to create opportunities for market growth.
Increasing consumer awareness about the advantages of herbal and functional teas across developed and developing countries such as the United States, Brazil, Canada, Argentina, and Mexico significantly increases functional tea consumption in the Americas. The manufacturers operating in the region abide by specific guidelines issued by organizations such as the Food and Drug Administration (FDA), benefitting the market growth. The APAC region is witnessing considerable growth in the functional tea market due to its vast population base, deep-rooted tea consumption history, and increasing disposable income levels. The functional tea market space in Europe, the Middle East, and Africa offers significant opportunities for growth and premiumization of existing functional tea products. In contrast, the Middle East and Africa are emerging markets with high growth potential. The shift towards functional tea is rapidly evolving across the developed economies of Europe to meet health and hygiene requirements. Significant demand is witnessed from Western European countries such as France, Ireland, the Netherlands, Germany, the UK, and Belgium, due to the growing health consciousness leading to rising sales of functional tea. In addition, the rising stress rate due to the increasing working pressure and hectic lifestyles increased the demand for beverages that offer added health benefits.
Market Segmentation & Coverage:
This research report categorizes the Functional Tea Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Tea Type, market is studied across Green Tea and Herbal Tea. The Green Tea is projected to witness significant market share during forecast period.
Based on Form, market is studied across Bags, Loose Leaves, and Powder. The Powder is projected to witness significant market share during forecast period.
Based on Function, market is studied across Detox, Gut & Digestive Health, Immunity, Multifunctional, and Weight Loss. The Multifunctional is projected to witness significant market share during forecast period.
Based on Distribution, market is studied across Offline and Online. The Offline is further studied across Convenience Store, Hypermarkets & Supermarkets, Independent Retailers, and Specialist Retailers. The Online is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas is projected to witness significant market share during forecast period.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Functional Tea Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Functional Tea Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Functional Tea Market, highlighting leading vendors and their innovative profiles. These include Arteasans Beverages, LLC, Associated British Foods PLC, Barry's Tea, Bigelow Tea, Dilmah Ceylon Tea Company PLC, Empire Teas (Pvt) Ltd., Godrej & Boyce Manufacturing Company Limited, Harney & Sons Fine Teas, Herbaty Szlachetne Sp . z o. o., ITO EN LTD., KAYTEA, Numi, Inc., NUTRATEA Ltd., Organic India Pvt. Ltd., Organic Merchant Pty Ltd., Tata Consumer Products Limited, Tea Forté Inc., The Coca-Cola Company, The Hain Celestial Group, Inc., The Republic of Tea, Inc., The Ryl Company LLC, The Taj Mahal Tea House, Tiesta Tea Company, Typhoo by Apeejay Surrendra Group, Unilever PLC, and Vahdam Teas Private Limited.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Functional Tea Market, by Tea Type
7. Functional Tea Market, by Form
8. Functional Tea Market, by Function
9. Functional Tea Market, by Distribution
10. Americas Functional Tea Market
11. Asia-Pacific Functional Tea Market
12. Europe, Middle East & Africa Functional Tea Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Functional Tea Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Functional Tea Market?
3. What is the competitive strategic window for opportunities in the Functional Tea Market?
4. What are the technology trends and regulatory frameworks in the Functional Tea Market?
5. What is the market share of the leading vendors in the Functional Tea Market?
6. What modes and strategic moves are considered suitable for entering the Functional Tea Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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