Flavored Tea Market size is expected to reach by USD 4.6 million during 2022-2030, at a CAGR of 8.1% during the forecast period.
The Flavored Tea Market forecast helps in depicting that the global market operations are expected to rise at a compound annual growth rate (CAGR) of 8.10% during the ongoing forecast period. Tea is a popular hot drink or beverage that is consumed by people all over the world. Various types of tea are made including processes like brewing, decocting, boiling the dry leaves in hot water for the much-needed aroma and taste. Tea offers multiple health advantages and owing to the difference in the taste of people who have a thing for drinking tea, the market players develop products of different tastes, ranges, and market prices. This helps to increase the chances of driving a larger demand for the available market products and further, helping them choose products that suit their taste the best.
The flavored tea market is filled with a huge variety of herbal teas. Some of them are chamomile tea, peppermint tea, organic tea, hibiscus tea, rose, tea, cardamom tea, and pure herbs tea, amongst others. The growing awareness amongst the global population about being precautionary about their health and lifestyle is one of the major reasons that is driving the market towards growth during the forecast period.
Covid 19 Analysis of Flavored Tea Market
Tea is one of the most preferred intakes when it comes to understanding the tastes and preferences of people at large. The emergence of the pandemic as a huge healthcare emergency has forced people to take a backseat from their workplaces and sit at home. Lockdown was a new kind of trend that the people were enjoying at first but later, people began struggling to meet their daily needs and were in dire need of government resources to intervene. This was a time for the people to pursue their hobbies, spend more quality time with their loved ones, and also, explore more about their likes and dislikes. However, it was a major struggle for the production and manufacturing units to maintain the supply chain mechanism of the market as it reduced the availability of skilled workforce and resources.
The rise of the flavored tea market during the spread of the coronavirus was steady but slow. Hence, the market players identified the need to address the changing tastes and preferences of people and developed products that promised the use of natural and authentic ingredients that have a positive impact on the health of people. Also, the rising investment from the public sector promises excellent growth for the market during the forecast period.
The rising awareness of consumers related to the health benefits associated with drinking herbal and green tea is one of the major factors that is driving the growth of the flavored tea market during the ongoing forecast period. The rise in the income and purchasing power of people is leading them to change their preferences and try new things out. The introduction and availability of content like health ingredients on the packing of these tea products are likely to present the market with great growth opportunities during the period.
Tea is one of the most conveniently available beverages which is acting as a major reason for various qualitative startups. The demand for tea is soaring high in the APAC region with the young population being divided into tea lovers and coffee lovers. Alongside the increase in the purchasing power of people, the availability of different types of tea belonging to various price ranges will help the flavored tea market to grow during the forecast period.
The flavored tea market size is witnessing major expansions during the forecast period of 2022-2030 owing to its attached health benefits, and taste enjoyed by the target audience. The worldwide consumption of tea has increased as the target audience has experienced growth in the number of taste variants available. Alongside the availability of great tastes, the market operations and trends are witnessing a huge degree of ease of availability and the attached health benefits are presenting the market with opportunities to dwell upon during the period. Green tea is one of the major market inclusions alongside herbal and fruit tea which is positively impacting the market operations at a global scale.
Based on the flavored tea market trends, the global market is catering to the needs of the target audience in various regions across the globe. The market has been segmented based on the following:
Based on the tea type
The type of segment of the market includes various kinds of teas like herbal tea, green tea, black tea, white tea, and others like organic tea.
Based on the tea flavor
The flavor segment of the flavored tea market includes fruits, spices, herbs, and others.
Based on the distribution channels
To reach a larger audience, the market players make use of various distribution channels to target both store-based availabilities, and the non-store based availability
Based on the global regions
The global market operations are currently functional in 4 major regions namely North America, Europe, the APAC region, alongside the rest of the world (RoW).
During the forecast period, the flavored tea market operations have experienced a major hike and thus, a rise in the demand patterns is expected in the APAC region. One of the major reasons is that green tea production is the maximum in the Chinese region. This market segment is likely to experience maximum growth in comparison to black tea. Hence, the market has new opportunities to work and grow upon. Apart from the APAC region, the European regions are also expecting to grow at a significant rate during the forecast period.
To analyze the rising competitive degree amongst the flavored tea market players, the report discusses the prominent market players. The key market players are as follows:
|Market Size||4.6 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Flavor, Distribution Channel, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Associated British Foods plc (Twinnings) (U.K.), Goodricke Group Ltd. (India), Golden Tips Tea Co. Pvt. Ltd. (India), Apeejay Surrendra Group (Typhoo Tea) (India), Tata Global Beverages Ltd. (India)|
|Key Market Opportunities||Availability of different types of tea belonging to various price ranges|
|Key Market Drivers||Rising awareness for health benefits with drinking herbal and green tea|
The Asia Pacific region would be the fastest-growing flavored tea market.
The green tea segment in the fastest-growing segment of the flavored tea market.
Leading players in the global flavored tea market include Associated British Foods plc (Twinnings) (U.K.), Goodricke Group Ltd. (India), Golden Tips Tea, Co. Pvt. Ltd. (India), Apeejay Surrendra Group (Typhoo Tea) (India), Tata Global Beverages Ltd. (India).
The store-based segment would boost the flavored tea market.