Acknowledging the kind of accruals, the market perceives currently, Market Research Future (MRFR), in its recently published study report asserts that the size of the global herbal tea market will upsurge significantly, registering a phenomenal CAGR throughout the review period (2017-2023).
Distribution channels play a vital role in the development of this market. Moreover, the constant variations and novelties brought by the market players offer huge growth opportunities. Additionally, factors such as attractive packaging forms, raising awareness towards keeping good health and the health benefits provided by the Herbal tea are substantiating the market growth. Some players strategize their packaging solutions meticulously to enhance the customer experience while aligning with their branding, offering exclusive product innovation. Moreover, growing industrialization and urbanization along with the improving economic conditions worldwide commutatively act as a tailwind that pushes up the market growth.
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Herbal tea is gaining popularity, especially among health-conscious consumers mainly due to its medicinal properties that offer various health benefits. Simultaneously, the availability of a range of flavors and packaging types boost the market growth further. The burgeoning FMCG sector alongside the increasing shift in consumer preferences fosters the market growth to an extent. As a result, the Herbal Tea Market is growing pervasively on the global platform.
Some of the top players in the market include:-
- Dilmah Ceylon Tea Company Plc. (Sri Lanka)
- Associated British Foods Plc. (U.K)
- ITO EN (North America) Inc. (U.S.)
- The Unilever Group (U.K)
- Tata Global Beverages Ltd. (India)
- Barry’s Tea Ltd. (Ireland)
- Celestial Seasonings, Inc. (U.S.)
- R.C. Bigelow, Inc. (U.S.)
- Mighty Leaf Tea Company (U.S.)
- Harney & Sons Tea Corp. (U.S.)
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
TO BE CONTINUE………….
Global Herbal Tea Market – Competitive Analysis
Highly competitive, the herbal tea market appears to be fragmented owing to the presence of several well-established players. These players try to reduce the brand recall of their products through increasingly focusing on effective marketing communication skills.
The brand recall occurs typically as a result of the low product differentiation and the availability of a wide range of similar products. High potential growth demonstrated by the market is expected to attract several new entrants during the anticipated period which will resultantly intensify the competition further.
Global Herbal Tea Market – Segments
Global Herbal Tea Markethas segmented the analysis into five key dynamics for the convenience of understanding;
- Ginger among others
- Cognitive Health
- Gut & Digestive Health
- Tea Bags
- Loose Leaf
By Distribution Channel
- Non-store based
Global Herbal Tea Market – Regional Analysis
The Asia Pacific region dominates the Herbal Tea Market with the largest market share. Owing to the presence of major tea producing countries, such as Sri Lanka, China, Indonesia, and India the APAC market is expected to retain its dominance throughout the assessment period, followed by the North American market.
Additionally, increasing consumption of herbal tea in countries like China and India where large consumer base led by the improving economic conditions that are improving access to the quality of life is boosting the market in the region.
The European region accounts for one of the promising markets for herbal tea owing to the growing herbal tea markets in the region. Also, factors such as high disposable income & increasing health eccentric populace with the influence of media industry provide impetus to the market growth in the region.
The North American region accounts for another lucrative market for herbal tea. The rolling market in the US heading with the high-quality lifestyle and the presence of large innovative players drives the market growth in the region majorly.
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