Market Overview
Global Functional Tea Market is projected to grow at the CAGR of 4.4%. Growing demand for healthy hot beverages from all consumer groups is driving the growth of functional tea market. Increased consumption of functional tea in developing countries is influencing key players to introduce different variety of functional tea in the market. Advancement in farming practices of tea and innovation in flavors and ingredients is supporting the growth of the market. Availability of resources and large consumer base is creating huge opportunity for key players to expand their business in Asia Pacific region especially in China and India.
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Rising health awareness among consumers has boosted the sales of herbal functional tea, longjing functional tea and fruit functional tea across the globe. Key players with large variety of product are getting attention from consumers as acceptance of new type in functional tea has increased among consumers. The functional tea market has grown significantly in China, India Turkey and Indonesia as these countries are reach with resources compare to other countries in the world.
Major Key Players
This report includes a study of strategies such as mergers and acquisitions, product launches by the major Functional Tea Market players. It further includes product portfolios, developments of leading major players which includes Wuhan z-Micro Unite S&T Co., Ltd. (China), Tata Tea Limited (India), HERBATY SZLACHETNE Sp. Z O.O. (Poland), The Mate Factor (U.S.), Organic India (India), Guangzhou LOHAS Biological Technology Co., Ltd (China) and Godrej Tea (India)
Regional Analysis
Global Functional Tea Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Asia Pacific has the major market share followed by North America. Most of the major tea producing countries are located in Asia Pacific region which is the key factor behind the major market share of Asia Pacific region. Functional Tea market in Asia Pacific region is growing at significant rate due to increasing consumption of functional tea in countries like China and India where large consumer base is available.
Segments
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