Global Functional Tea Market will Observe an

Rubecca
Rubecca 1/24/2022 1:27:42 PM

Global Functional Tea Market will Observe an Electrifying Growth
by 2023; Confirms MRFR Unleashing the forecast for  
 2017-2023


The functional
tea market size
is accruing rapidly across the globe, mainly due to the
growing FMCG sector worldwide, moving with the augmenting adoption of medicinal
herbs and natural ingredients in the treatment of several ailments. Besides,
the growing shift in consumer preferences, especially in the young consumer
base towards natural and organic products is providing impetus to the market
growth.

Additionally, novelties in flavor and packaging form brought
about by the key players operating in the market are attracting the consumers
to buy functional tea. Also, rising health awareness among consumers about the
health benefits of functional tea has boosted the market demand for the herbal
and Longjing functional tea. Resultantly, the functional tea market is growing
pervasively on the global platform.

Considering the growth, the market is witnessing currently,
Market Research Future (MRFR), in its recently published study report foretells
that the global functional tea market, growing rapidly will gain phenomenal
accruals by registering an outstanding CAGR during the review period
(2017-2023).

To get more info: https://www.marketresearchfuture.com/press-release/functional-tea-market

Moreover, factors substantiating the market growth include
growing millennial genre, growing industrialization & urbanization along
with the improving economic conditions worldwide. Some giant players
meticulously strategize their packaging solutions that can enhance the product
& customer experience, while aligning with their branding of providing top
of the line product innovation.  Such
factors commutatively act as the tailwind to the market growth.

Furthermore, distribution channels are playing a vital role
in the development of this market, witnessing the proliferation of large format
retail including hypermarkets, supermarkets, and online shopping.  Online channels perceive a huge growth,
providing convenience to the price-sensitive consumers.

Key Players:

Some of the prominent players profiled in MRFR analysis
include Herbaty Szlachetne Sp. Z O.O. (Poland), Tata Tea Limited (India),
Guangzhou Lohas Biological Technology Co., Ltd (China), The Mate Factor (US),
Godrej Tea (India), Wuhan z-Micro Unite S&T Co., Ltd. (China), and Organic
India (India)

Global Functional Tea Market – Segments

The MRFR analysis is segmented into five key
dynamics for the convenience of understanding.

By Types: Fruit
Tea, Herbal Tea, Longjing Tea, and Flower Tea among others.

By Forms:  Broken Tea, Loose Tea, and Instant Tea Powder among
others.

By Functions: Heart Health, Weight loss,
and Detox among others.

By Packaging: Can, bag, Bottle, and Sachet among
others.

By
Regions
: North America, Europe, APAC
and the Rest-of-the-World.

Global Functional Tea Market - Regional Analysis                            

Globally, Asia Pacific region dominates
the functional tea market with the largest market share. Attributing to the
presence of major tea producing countries, such as China, Sri Lanka, India, and
Indonesia the APAC market is expected to grow with a phenomenal CAGR, followed
by the North American market during the assessment period.

Additionally, increasing consumption of
functional tea in countries like China and India where large consumer base is
available and where improving economic conditions are improving the quality of
life of people are some of the key driving forces propelling the market growth
in the region.

North America is another lucrative market
for functional tea. This growth attributes to America’s largest market backed
by the high per capita income and the presence of large innovative players
operating in the country’s functional tea market.

Attributing to the growing markets for
functional tea in the region, Europe accounts for one of the promising markets.
Besides factors such as high disposal income & increasing health eccentric
populace coupled with the influence of media industry provide impetus to the
regional market growth.

The Middle East and Africa region is
playing a key role in the growth of functional tea market especially in
countries like Iran and Kenya.

Global Functional Tea Market – Competitive Analysis

The functional tea market appears to be highly competitive
owing to the presence of numerous well-established players. These players are
increasingly focusing on reducing the brand recall of their products among
consumers, through effective marketing communications. Brand recall usually
occurs due to 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. As a
result, the competition will get further intensifying

Industry/Innovation/Related
News:

August 31, 2018 – Baidyanath Ayurveda
(India), one of the leading global Ayurveda product company announced its
venture into the growing functional herbal tea market with the launch of four
variants - Laxi Tea, Trim Tea, Vital Tea and Coff Tea.

The fast-moving consumer goods (FMCG) sector worldwide, is
moving towards the wider adoption of Ayurveda, involving the usages of
medicinal herbs and natural ingredients in the treatment of several ailments.
Seeing the growing shift in consumer preferences and the youth towards natural
organic and Ayurvedic products, the company decided to foray into the FMCG
market with health benefit products, including herbal tea.

 























































 

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