LONDON–(BUSINESS WIRE)–Oct 9, 2019–
Technavio has been monitoring the global functional tea market since 2016 and the market is poised to grow by USD 2.89 billion during 2019-2023, progressing at a CAGR of almost 5% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled global functional tea market 2019-2023. (Graphic: Business Wire)
Read the 131-page research report with TOC on “Functional Tea Market Analysis Report by Type (herbal tea, fruit tea, flower tea, and others), by Geography (APAC, Europe, MEA, North America, and South America), and Segment Forecasts, 2019 – 2023”.
The market is driven by the health benefits of functional tea. In addition, the premiumization of functional tea products is anticipated to further boost the growth of the functional tea market.
Consumers prefer to consume functional tea over other beverages because it contains herbs and medicinal plant extracts that are beneficial for the body. Tea products infused with healthy functional ingredients not only provide protection against colds but also improve digestion and immunity. Vendors are offering tea products that contain hibiscus flower petals that helps in minimizing blood sugar and blood pressure levels. Similarly, tea products containing ginger, citrus, and mint help to relax a tired body. The growing consumer awareness about the availability of such tea products and their benefits will boost the sales of these products. Thus, the health benefits of functional tea are expected to drive market growth during the forecast period.
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Major Five Functional Tea Market Companies:
Arteasans Beverages LLC
Arteasans Beverages LLC operates businesses under various segments and offers various tea products, such as green tea, black tea, and white tea. It is headquartered in the US. The company also offers key functional tea products such as yerba mate tea.
Fito Ltd.
Fito Ltd. manufactures and offers a wide variety of tea products, such as bitter melon tea, organic burdock root tea, diet tea with garcinia cambogia, and others. One of the key functional tea products offered by the company is organic lemongrass tea.
Godrej Group
Godrej Group offers products through various product segments, namely home care, hair care, personal care, and others. One of the key functional tea products offered by the company is green tea.
Granum Inc.
Granum Inc. offers a variety of teas such as shiitake, oolong and licorice mint. It is a private company and is headquartered in the US. The company is also known to offer functional tea products such as English breakfast.
Herbaty Szlachetne Sp. z o.o
Herbaty Szlachetne Sp. z o.o offers various products through segments such as teas without additives, teas with toppings, flowering teas, packed teas, and others. The company offers plain teas such as Assam black power TGFOP, Bancha Japan style, Ceylon BOP1, China Chun Mee, and others.
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Functional Tea Type Outlook (Revenue, USD Million, 2019 – 2023)
- Herbal tea
- Fruit tea
- Flower tea
- Others
Functional Tea Regional Outlook (Revenue, USD Million, 2019 – 2023)
- APAC
- Europe
- MEA
- North America
- South America
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Related Reports on Consumer Staplesare:
Tea Market – Global Tea Market by product type (black tea, green tea, and others) and distribution channel (online and offline).
Oolong Tea Market – Global Oolong Tea Market by product (conventional oolong tea and organic oolong tea) and geography (the Americas, APAC, and EMEA).
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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KEYWORD:
INDUSTRY KEYWORD: FOOD/BEVERAGE RETAIL
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 10/09/2019 07:30 AM/DISC: 10/09/2019 07:30 AM
