The “Functional Tea Market” 2019 is splits into the presence of numerous worldwide and domestic vendors. The level of competition among the players in this marketspace is concentrate especially in terms of value, quality, regulatory acquiescence, and innovation.
To reach a competitive advantage over the other players, the vendors are focusing on Research and Development activities. Furthermore, they are also adopting competitive strategies such as product portfolio expansions and cost reduction to establish their market presence.
Functional Tea market is giving the major share of 4.17% in 2018 and projected to grow at compound annual growth rate (CAGR) of more than almost 5% during forecast period 2019-2023.
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About this market
In 2018, the herbal tea segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as its medicinal properties that can cure various body ailments will play a significant role in the herbal tea segment to maintain its market position. Also, our global functional tea market report looks at factors such as health benefits of functional tea, growing demand for organic functional tea, and new product launches. However, the availability of counterfeit functional tea products, availability of substitutes, and a preference for DIY at-home functional tea recipes may hamper the growth of the functional tea industry over the forecast period.
the report comprises of various company profiles of fundamental market players of Functional Tea market with thorough market segment in terms of different countries, this report divides the market into a few key countries, with sales (consumption), revenue, market share, and growth rate of the market in these countries over the forecast period 2023.
Regions of Functional Tea market
Dynamics of Functional Tea Market
Market Driver: health benefits of functional teaMarket Trend: premiumization of functional tea productsMarket Challenge: availability of substitutesHealth benefits of functional tea Consumers prefer to consume functional tea over other beverages because it contains herbs and medicinal plant extracts that are beneficial for the body. Tea products infused with healthy functional ingredients not only protect against colds but also improve digestion and immunity. Vendors are offering tea products that contain hibiscus flower petals that help in minimizing blood sugar and blood pressure levels. .Similarly, tea products containing ginger, citrus, and mint help to relax a tired body. The growing consumer awareness about the availability of such tea products and their benefits will boost the sales of these products. This demand for low-calorie chocolate will lead to the expansion of the global functional tea market at a CAGR of almost 5% during the forecast period.Premiumization of functional tea products Vendors in the global functional tea market offer a wide range of products with different flavors, qualities, volumes, and prices. Consumers prefer high-quality functional tea products containing natural or organic ingredients that provide the required health benefits. Premium functional tea products are marked with quality assurance stamps from the USDA and others, which regularizes the product quality. Also, with changing lifestyles across the world, consumers have become health conscious and prefer premium beverages, including functional tea, to improve their health. Therefore, affluent consumers opt for premium functional tea products even if they are highly-priced. This development is expected to have a positive impact on the overall market growth.
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PART 01: EXECUTIVE SUMMARY PART 02: SCOPE OF THE REPORT •2.1 Preface •2.2 Preface •2.3 Currency conversion rates for US$ PART 03: MARKET LANDSCAPE •Market ecosystem •Market characteristics •Market segmentation analysis PART 04: MARKET SIZING •Market definition •Market sizing 2018 •Market size and forecast 2018-2023 PART 05: FIVE FORCES ANALYSIS •Bargaining power of buyers •Bargaining power of suppliers •Threat of new entrants •Threat of substitutes •Threat of rivalry •Market condition PART 06: MARKET SEGMENTATION BY TYPE •Market segmentation by type •Comparison by type •Herbal tea – Market size and forecast 2018-2023 •Fruit tea – Market size and forecast 2018-2023 •Flower tea – Market size and forecast 2018-2023 •Others – Market size and forecast 2018-2023 •Market opportunity by type PART 07: CUSTOMER LANDSCAPE PART 08: GEOGRAPHIC LANDSCAPE •Geographic segmentation •Geographic comparison •APAC – Market size and forecast 2018-2023 •North America – Market size and forecast 2018-2023 •Europe – Market size and forecast 2018-2023 •South America – Market size and forecast 2018-2023 •MEA – Market size and forecast 2018-2023 •Key leading countries •Market opportunity PART 09: DECISION FRAMEWORK PART 10: DRIVERS AND CHALLENGES •Market drivers •Market challenges PART 11: MARKET TRENDS •Premiumization of functional tea products •Growing preference for online shopping •Expansion of organized retailing PART 12: VENDOR LANDSCAPE •Overview •Landscape disruption •Competitive scenario PART 13: VENDOR ANALYSIS •Vendors covered •Vendor classification •Market positioning of vendors •Arteasans Beverages LLC •Fito Ltd. •Godrej Group •Granum Inc. •Herbaty Szlachetne Sp. z o.o •Numi Inc. PBC •ORGANIC INDIA •Tata Global Beverages Ltd. •The Republic of Tea •Unilever Group PART 14: APPENDIX •Research methodology •List of abbreviations •Definition of market positioning of vendors PART 15: Conclusion
No. of Pages: – 131
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