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Herbal Tea Market to Reach $4,330.5 million, Globally, by 2032 at 5.6% CAGR: Allied Market Research
The herbal tea market has experienced rapid growth owing to the shift of consumers toward natural and organic tea beverages in recent times. Herbal teas, derived from dried herbs, flowers, fruits, and spices, offer a natural, plant-based beverage for health-conscious consumers. The absence of artificial flavors and preservatives caters to the preference for natural ingredients, attracting individuals seeking unprocessed beverage options. Moreover, the herbal tea market has experienced a surge in innovation owing to advances in technological and packaging aspects, driven by consumer demand for convenience, sustainability, and personalized wellness experiences.
Based on type, the chamomile segment held the highest market share in 2022, accounting for more than one-fifth of the global herbal tea market revenue and is estimated to maintain its leadership status throughout the forecast period. The market for chamomile tea is driven by the significant active compounds present in chamomile, such as terpenoids alpha-bisabolol, and azulenes. These compounds exhibit antioxidant, antibacterial, and anti-inflammatory characteristics, which contribute to the popularity of this segment. Chamomile tea is often consumed for its potential health benefits, such as promoting relaxation, aiding in sleep, and helping with digestive issues. In addition, chamomile has a long history of traditional use in herbal medicine, particularly for its calming effects. Thus, this segment is to maintain dominance throughout the forecast period. Thus, the demand for chamomile tea is growing significantly boosting the market growth.
Based on packaging, the tea bags segment held the highest market share in 2022, accounting for nearly two-fifths of the global herbal tea market and is estimated to maintain its leadership status throughout the forecast period. The busy and fast-paced lifestyle of consumers has propelled the demand for ready-to-use products such as tea bags. They are designed to provide a standardized flavor and strength, which ensures a consistent and reliable taste experience with each use. The tea bags offer a hygienic and mess-free alternative to another packaging of tea leaves available in the market. The contained nature of tea bags prevents tea leaves from floating freely in the cup and thus provides a cleaner drinking experience. Thus, this segment is expected to grow in coming years.
Based on distribution channel, the supermarket-hypermarket segment held the highest market share in 2022, accounting for more than two-fifths of the global herbal tea market and is estimated to maintain its leadership status throughout the forecast period. The hypermarket/supermarket is gaining popularity owing to the availability of a broad range of consumer goods under a single roof, ample parking space, and convenient operation timings. Manufacturers work closely with retailers to secure optimal shelf space within hypermarkets and supermarkets. Placing herbal tea products prominently, such as at eye level or in high-traffic areas, increases visibility and the likelihood of customer engagement. Moreover, increase in urbanization, rise in working class population, and competitive pricing boosts the popularity of hypermarkets in the developed and the developing regions. These stores offer a variety of brands in a particular product category, thus providing more options for the consumers to buy herbal tea products of their choice. All these factors increase the sales in supermarkets and hypermarkets.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022 and is likely to dominate the market during the forecast period. Herbal tea has held a significant place in traditional Chinese medicine and its therapeutic properties have been recognized and utilized for centuries in various herbal remedies. These herbal concoctions are highly regarded for their potential effectiveness in treating serious health concerns in this region. Moreover, herbal teas are grown in plenty in China , Japan , and India . Thus, it may help the key players to cater to the requirements of consumers with less cost and effort, as people in this region are accustomed to the benefits of herbal tea. These factors are driving the growth of the herbal tea market in Asia-Pacific .
The report analyzes government regulations, policies, and patents to provide information on the current market trends and suggests future growth opportunities globally. Furthermore, the study highlights Porter's five forces analysis to determine the factors affecting market growth.
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