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Functional Tea Market Insights:
According to MRFR analysis, the Global Functional Tea Market is expected to register a CAGR of~6.30% from 2023 to 2032 and hold a value of over USD 12.4776235 billion by 2032.
The Global Functional Tea Market refers to the worldwide industry that involves the production, distribution, and consumption of functional teas. Functional teas are beverages that are infused with various natural ingredients and herbs, which are believed to provide specific health benefits or functional properties beyond the basic refreshment provided by traditional tea.
The global functional tea market has been experiencing significant growth in recent years due to the increasing consumer awareness of the health benefits associated with natural ingredients. Consumers are becoming more conscious of their well-being and seeking out products that offer functional advantages.
The COVID-19 pandemic had significant impacts on the global functional tea market. The pandemic has significantly heightened consumer awareness regarding health and wellness. People are more focused on boosting their immune systems and maintaining overall well-being. This shift in consumer priorities has led to an increased demand for functional beverages like tea, including functional teas.
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Top Key Players:
Some of the key market players are:
Tata Global Beverages Limited (India)
Unilever PLC (UK)
The Hain Celestial Group, Inc. (US)
Dilmah Ceylon Tea Company PLC (India)
Associated British Foods PLC (UK)
Organic India Pvt. Ltd (India)
Barry’s Tea (Ireland)
Harney& Sons (US)
Numi Inc. (US)
Godrej Group (India)
Market Segmentation:
The Global Functional Tea Market has been segmented into type, end use and end user.
Based on the type, the market has been segmented into loose leaves, bags and powder.
Based on the end use, the market has been segmented into immunity, detox, weight loss, gut & digestive health and multifunctional.
Based on the end user, the market has been segmented into store-based, supermarkets & hypermarkets, convenience stores and specialty stores.
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Regional Analysis:
Asia Pacific is the largest region in the global functional tea market. Asia Pacific has a rich history and culture of tea consumption. Countries like China, Japan, India, and Taiwan have long-standing traditions of tea consumption and production. Tea is deeply ingrained in the daily lives and social fabric of these countries.
Increasing health consciousness and a focus on wellness have been major trends in Asia Pacific. Consumers are increasingly seeking functional beverages that offer health benefits. The cultural inclination towards natural remedies and herbal traditions further contributes to the popularity of functional teas in the region.
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