Korean & Japanese Ginseng Tea Market Size, Share, Growth and Trends, Report 2024-2031

Global Korean & Japanese Ginseng Tea Market reached US$ 350.12 million in 2023 and is expected to reach US$ 490.33 million by 2031, growing with a CAGR of 4.3% during the forecast period 2024-2031.

Korean and Japanese ginseng tea markets focus on herbal tea products made from the roots of ginseng plants, primarily Panax ginseng from Korea and Panax japonicus from Japan. These teas are valued for their potential health benefits, such as boosting energy, improving mental clarity, and supporting immune function. The market caters to health-conscious consumers, herbal tea enthusiasts, and those seeking natural remedies for stress relief, fatigue, and general wellness.

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Key Developments:

• In March 2020, National Food and Beverage, a leading importer of Korean and Japanese FMCG products, introduced two new offerings: Japanese barley tea and ginseng tea. These teas, meant to be enjoyed hot, are crafted with authentic Korean ginseng, known for its ability to boost the immune system by flushing out toxins and promoting overall wellness.

• Fast forward to November 2023, Danurim, a Daejeon-based ginseng food company, made a bold move in the global market with the launch of its Black Ginseng Tea Total Infusion. This innovative Red Ginseng product boasts no loss of saponins, ensuring consumers get the full health benefits of the ginseng.

• In November 2020, three young entrepreneurs-Sathingla Shokwungnao, Agrippa Jagoi, and Machu Kora Zimik-opened SAM Tea House in Phungreitang, Ukhrul, marking a first for the area. SAM Tea House is a cozy spot that offers a tea experience for every mood, from the health-boosting Matcha and Korean Ginseng to the calming organic Blue Tea.

Market Dynamics:

Growing Demand for Traditional and Herbal Tea

The increasing demand for traditional and herbal beverages is playing a key role in driving the growth of the global Korean and Japanese ginseng tea market. According to the FAO, global tea consumption has risen by 2.5% per person over the past decade, particularly in tea-producing regions. As health awareness grows, more consumers are turning to beverages that offer natural health benefits. Ginseng tea, with its deep roots in Asian traditional medicine, is gaining popularity for its potential to boost immunity, increase energy, and promote overall well-being. This shift towards herbal and traditional drinks, in preference to sugary or artificial beverages, is fueling the demand for Korean and Japanese ginseng tea worldwide.

Segment Covered in Korean & Japanese Ginseng Tea Market:

By Product: Pure Ginseng Tea, Ginseng Blends.

By Type: Korean Red Ginseng Type, Japanese Ginseng Type.

By Form: Loose Leaf Tea, Tea Bags.

By Distribution Channel: Supermarkets/Hypermarkets, Specialty Stores, Online Retailers, Others.

By End User: Household Consumers, Food Service Industry, Others.

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Key players involved in Korean & Japanese Ginseng Tea Market:

• Korea Ginseng Corporation
• KGE Co.Ltd.
• Sancha Tea
• Hawaii Coffee Company
• Wing Joo Loong
• Dae Han Corporation
• Portal Tea Company
• Wallbox Chargers, S.L.
• Shiate
• The Indian Chai

*Note:

• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

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