Technavio, a tech-focused market research firm, has published a new report on the global herbal tea market, which is expected to experience a slow but steady CAGR of around 5% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global herbal tea market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global herbal tea market into the following key regions: The Americas, APAC, Europe, and MEA.
Geographical segmentation of the global herbal tea market for 2015 (market share %)
|
APAC |
57.95% |
|
Europe |
24.80% |
|
Americas |
11.05% |
|
MEA |
6.20% |
Source: Technavio
APAC: largest revenue generating region for herbal tea
The herbal tea market in APAC was valued at more than $3 billion in 2015 and will grow at a CAGR of around 5% by 2020. The growing health awareness and an increase in the number of health-conscious consumers will make APAC the dominating region during the forecast period. Tea is the most preferred hot beverage in APAC countries like India, Japan, and China. Herbal tea is considered to be an healthier option compared to most other beverages and is replacing high sugar-containing carbonated drinks in the APAC market. Such choices are encouraging vendors to produce and market a wide range of new premium variants of herbal tea infused with new flavors.
“The health benefits associated with the consumption of tea is prompting the demand for these products among various consumers. The vendors in the market are introducing innovative packaging solutions and switching from standard thin packs, tetra packs, and tea bags to wooden and ceramic gift packs to attract more consumers. Tea products are made of various roots, seeds, dried flowers, and leaves. Some of the specialty herbal tea available in the market include herbal chai tea, bamboo tea, detox tea, mint mix, and ruby red rosehip tea,” says Manjunath Reddy, a lead analyst at Technavio, specializing in research on non-alcoholic beverages.
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Herbal tea market in Europe
The herbal tea market in Europe was valued at around $1 billion in 2015 and will grow at a CAGR of about 5% by 2020. The consumers in Europe are shifting their focus towards healthier, authentic, and natural products that will lead to the growth of the market. Europe is the major producer of herbs and fruits used in tea products, and some of the very common variants include linden trees, lemon balm, chamomile, and spices.
Herbal tea market in Americas
The herbal tea market in Americas was valued at almost $651 million in 2015 and will grow at a CAGR of around 5% by 2020. Increasing awareness about the health benefits associated with herbal tea like its ability to cure many chronic human diseases will lead to the growth of the American herbal tea market. Also, in this region, a large number of tea shops are opening up, which aims at providing greater consumer access to finer-quality herbal teas. Consumers are also experimenting with tea and trying new variants infused with herbal leaves that have different flavors.
Herbal tea market in MEA
The herbal tea market in MEA was valued at around $365 million in 2015 and will grow at a CAGR of more than 3% by 2020. Improvements in retail distribution channels and the ongoing expansion of modern grocery stores that offer a broad selection of herbal tea products will lead to the growth of the market in this region. UAE imports large variants of tea like black tea, green tea and herbal tea from India and Sri Lanka and then imports it to Iran and other Middle Eastern countries.
The top leading vendors operating in the global herbal tea market are:
- Adagio Teas
- Associated British Foods
- Dilmah Tea
- ITO EN
- Tata Global Beverages
- Unilever
Other prominent vendors in the market include Alvita, Barry’s Tea, Bigelow Tea, Bettys and Taylors of Harrogate, Celestial Seasonings, Harney and Sons, Mighty Leaf Tea, Numi, The Republic of Tea, Tazo Tea Company, and Teavana.
A more detailed analysis is available in the Technavio report titled, ‘Global Herbal Tea Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Functional Food and Nutraceuticals Market 2016-2020
- Global Organic Drinks Market 2016-2020
- Global Hot Drinks Market 2016-2020
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