Global Functional Tea Market is projected to be valued at USD 12,942.3 Million by 2026, expanding at a CAGR of 6.15% during the forecast period. Functional tea is a beverage that is infused with healthy, functional ingredients. Such types of teas are intended to provide additional health benefits. The consumption of functional tea is increasing worldwide due to its medicinal properties, followed by a pleasant flavor, and mildly stimulating effects. The growth of the global functional tea market is driven by the high demand for functional beverages and several flavor variants. The increasing demand for organic products worldwide is also expected to offer a lucrative opportunity to market players in the coming years. However, climatic changes, high costs of functional tea as compared to its regular counterpart, and limited natural resources are expected to hamper the growth of the global market during the forecast period.
Segmental Analysis
Global Functional Tea Market has been segmented on the basis of Type, Form, Function, Distribution Channel, and Region.
By type, the market has been divided into green tea, herbal tea, and others. The green tea segment accounted for the maximum market share in 2019, and the same segment is expected to register the highest CAGR of 6.25% during the forecast period. Green tea has a subtle, delicate flavor and less caffeine than fermented tea. It is also beneficial to health since non-fermented leaves retain a higher concentration of natural vitamins and polyphenols than fermented leaves.
By function, the market has been divided into immunity, detox, weight loss, gut & digestive health, multifunctional, and others. The multifunctional segment accounted for the maximum market share in 2019, and the same segment is expected to register the highest CAGR of 6.28% during the forecast period. Multifunctional tea with a fruity blend supports a beauty regime and helps protect the skin. Most floral teas have ingredients such as lemon balm, chamomile, and rose to help calm frayed nerves.
Key Players
Market Research Future recognizes Tata Global Beverages Limited (India), Unilever PLC (UK), The Hain Celestial Group, Inc. (US), Dilmah Ceylon Tea Company PLC (India), Associated British Foods PLC (UK), Organic India Pvt. Ltd (India), Barry's Tea (Ireland), Harney & Sons (US), Numi Inc. (US), and Godrej Group (India) as the Key Players in the Global Functional Tea Market.
Key Findings of the Study
Global Functional Tea Market is projected to register a growth rate of 6.15% from 2020 to 2026. The launch of innovative flavors followed by high demand for functional beverages is projected to propel the growth of the global functional tea market.
The green tea segment is estimated to retain its prominent share by 2026, and the same segment is anticipated to register a growth rate of 6.25% during the forecast period.
The loose leaves segment is estimated to retain its prominent share by 2026 whereas, the bags segment is anticipated to register a growth rate of 6.37% during the forecast period.
Complete Report Details @ https://www.marketresearchfuture.com/reports/functional-tea-market-3122
About Market Research Future:
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Kommentare