Global Herbal Tea Market Size By Product Type (Instant premixes, Liquid, Powdered RTD, syrups), By Raw Material Type (Yellow, Black, Green), and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, and South America).
The global Herbal Tea Market size is projected to reach a CAGR of 6.1% from 2023-2030.
Herbal Tea is a mixture of dry leaves, nuts, bark, seeds, grasses, fruits, flowers, and roots of various plants. There are various kinds of tisanes or Herbal Teas that are used for medical purposes. Herbalteais widely represented in the traditional medicine of various cultures, due to their heаlth-рrоmоting activities that include аntiсаnсer, antidiabetic, anti-inflammatory, and antioxidant рrорerties.
The major market drivers of the Herbal Tea Market are increased population, disposable income, and growing health awareness of the consumers. Social factors like trends, and awareness among the citizens of the country have a major effect on the demand for Herbal Tea. The shift in the trend for healthy products and a nutrition-rich diet has driven people towards the use of Herbal Tea. As Herbal Tea is free of caffeine, the market is experiencing heavy demand from consumers in the current times. Additionally, an increase in consumer disposable income and willingness to spend more money on a variety of products encourages manufacturers to introduce premium and exclusive blends. They have introduced various healthy ingredients in their tea blends, to target some of the common health conditions such as diabetes, obesity, and heart diseases among others. Rising application in the beauty and cosmetic industries is expected to further fuel market growth.
On the other hand, the high initial cost associated with the product is still persistent for many organizations, these arise due to numerous aspects including lack of funds, less floor space, reliability, and infrastructure built, for manual processes. Furthermore, these trucks are operated in systematic spaces using the predefined route and movement of products. This results in lesser flexibility for industries that require forklift trucks for multiple purposes.
The herbal tea market in the USA and in India on a global scale has been surging all time, and the whole market of organic herbal tea has witnessed a tremendous rise in the past couple of years. The main reason is the constant demand for premium and chemical-free products. Globally, the need for organic products, be it food, beverages, or even herbs & spices is rising. Therefore, as per experts, the herbal tea market share during Covid-19 will not decrease but it will remain constant.
The rising consumer preference for natural and organic products is due to the emergence of health awareness and being conscious of choosing the best. The advantage of having herbal tea include reducing stress, improving digestion, and boosting immunity. Further, bringing innovation in terms of product offerings, with manufacturers introducing new flavors and blends to cater to changing consumer preferences and also experiencing high growth in the herbal tea market. The expansion of distribution channels in terms of online or retail stores as well as the growing popularity of tea culture is proposed to grow the herbal tea market in the next coming years.
Asia Pacific to Dominate the Market