The worldwide herbal tea market is projected to be valued at $3,962.7 million in US dollars in 2023. Herbal tea sales are predicted to grow at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2033, reaching an estimated US$ 7,693.5 million. The market for tea is expanding rapidly worldwide, particularly for herbal teas, in line with the evolving trends in health and well-being.
The expansion of the wellness industry, which is strongly linked to the fat-burning properties of herbal teas, has been shown to have significantly improved. According to a verified analysis, the herbal tea market grew at a compound annual growth rate (CAGR) of 5.5% between 2016 and 2021.
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Herbal tea can be sipped with or without fruit juices, sugar, honey, or both for diabetics and health-conscious people. The use of herbal tea lowers blood sugar levels and minimises caffeine intake. There are numerous types of herbal teas available, such as ones containing ginger, ginseng, hibiscus, jasmine, rosehip, mint, chamomile, and ginkgo biloba.
Herbal Tea Market Segmentation:
The herbal tea market is divided into categories based on the types of raw materials utilised, the flavours, the packaging, the products, and the area. The herbal tea market is divided into three groups based on the type of raw material used: black tea, green tea, and yellow tea. Black herbal tea has a lower market share in these categories than green herbal tea, which is preferred by the younger generation in particular since it is perceived as being more nourishing and healthier.
Green herbal tea offers a wider variety of kinds and new product developments than black herbal tea. Depending on the type of product, herbal tea is categorised into three categories: fast premixes, liquid and powdered RTD, and syrups. Due to their portability and year-round suitability, powdered fast premixes are widely used in several market segments. The widespread consumption of liquid herbal tea as a cooling beverage aids in the rapid growth of the herbal tea market. The syrup comprises sugar and herbal tea extracts, is primarily consumed by the younger generation, and boosts the market share of the herbal tea sector.
Herbal tea market is segmented as flavor types like lemongrass, peppermint, fruit, hibiscus, ginger and chamomile. Lemongrass herbal tea is mostly consumed worldwide. Peppermint herbal tea relieves muscle spasms and is used widely. Herbal tea made from chamomile flowers can be helpful in insomnia. Herbal tea is also segmented on the basis of packaging like can packaging, carton packs, herbal tea bags, herbal tea paper pouches and loose tea, which covers herbal tea market share and is expected to expand widely in the forthcoming years.
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Herbal Tea Market: Regional Outlook
The herbal tea market is segmented on the basis of regions like North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa. Japan, Eastern Europe and North America are in increasing demand for herbal tea, which is the potential market and established markets for herbal tea due to its anti-aging properties.
New herbal tea brands are appearing weekly with the increasing demands for processed foods and ready to drink beverages on a large scale and is expected to scroll robust CAGR in forthcoming years.
Herbal Tea Market: Drivers
Increased population, disposable income, growing health awareness of the consumers and the ongoing wellness trends are some of the driving factors influencing to enlarge the herbal tea market in the anticipated years. Lipton Herbal Tea is mostly used for the treatment of liver problems by supporting it in the release of toxins from the body. In many cases the frontier between enjoyment and medicinal purposes have shifted to obscure. These trends in turn initiated opportunities for the herbal tea extract producers to contribute the functional food and neutraceutical market sectors with new ingredients.
Herbal Tea Market: Key Players
The key players operating in herbal tea market consists of AB Food and Beverages, Tata Global Beverages, Martin Bauer Group, Nestea, Unilever, Buddha’s Herbs, Green Earth Products Pvt Ltd, Mothers Parkers Tea and Coffee Inc., Global Herbitech, Rooibos and Typhoo India.
Regional analysis for Herbal Tea Market includes
- North America
- US & Canada
- Latin America
- Brazil, Argentina & Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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