The herbal tea market is set for significant growth, projected to reach USD 7,693.5 million by 2033, with a robust CAGR of 7.3%, starting from USD 3,962.7 million in 2023.
The rising demand for organic and natural products presents a strong opportunity for expansion in the herbal tea market. However, it faces tough competition from other beverages such as coffee, tea, and juice.
As new companies enter the herbal tea space, the competition to establish a leading position becomes increasingly challenging, posing a threat to the market’s growth.
Market Opportunities
Customers are increasingly health-conscious and seeking natural products, making herbal tea an ideal choice due to its natural ingredients and numerous health benefits. The rise of e-commerce further enhances opportunities to reach herbal tea consumers.
Herbal tea offers various advantages, including stress reduction, improved sleep, boosted immunity, enhanced digestion, and weight loss, driving daily demand. Additionally, customers are interested in herbal tea blends and are exploring new ways to enjoy their favorite teas.
Key Takeaways
- The industry has maintained an excellent CAGR of 7.3% from 2023 to 2033, indicating a consistent upward trajectory and favorable prospects for the market.
- The global herbal tea industry is on track to flourish and reach a remarkable revenue milestone of US$ 7,693.5 million by 2033.
- United States demonstrated dominance by capturing a substantial 21.7% share of the herbal tea market, outperforming competitors.
- Germany established itself as a leader with a significant market share of 7.8% in the herbal tea market.
- Japan showcased its competitive edge by capturing a substantial 3.5% market share in the herbal tea industry.
- India positioned itself as a key player in the herbal tea market, capturing a significant market share of 6.4%.
Competitive Landscape
The global herbal tea market is highly diverse and competitive, featuring numerous local and regional players. Key companies employ a range of marketing strategies, including mergers and acquisitions, expansions, collaborations, and partnerships to strengthen their positions.
Recent Developments
- March 2022: Tata Global Beverages released a new brand of herbal teas named “Teavana Wellness Teas.
- April 2022: Unilever purchased Pukka Herbs Ltd., a famous herbal tea firm. This purchase will assist Unilever to extend its offering of organic and natural products.
- May 2022: Associated British Foods said it will spend $10 million on its herbal tea business.
Key Companies Profiled
- AB Food and Beverages
- Tata Global Beverages
- Martin Bauer Group
- Nestea
- Unilever
- Buddha’s Herbs
- Green Earth Products Pvt. Ltd
- Mothers Parkers Tea and Coffee Inc.
- Global Herbitech
- Typhoo India
- Rooibos
- The Feel Good Tea
- Ashford Tea
- Silver Leaf Tea
- Waku
- Opteamal
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Key Segments Profiled in the Herbal Tea Industry Survey
Herbal Tea Market by Raw Material Type:
- Black Herbal Tea
- Green Herbal Tea
- Yellow Herbal Tea
Herbal Tea Market by Product Type:
- Herbal Tea Instant Premixes
- Liquid Herbal Tea
- Powdered RTD Herbal Tea
- Herbal Tea Syrup
Herbal Tea Market by Flavor Types:
- Lemongrass Herbal Tea
- Peppermint Herbal Tea
- Fruit Herbal Tea
- Hibiscus Herbal Tea
- Ginger Herbal Tea
- Chamomile Herbal Tea
Herbal Tea Market by Packaging Type:
- Herbal Tea Can Packaging
- Herbal Tea Carton Packs
- Herbal Tea Bags
- Herbal Tea Paper Pouches
- Loose Herbal Tea
Herbal Tea Market by Region:
- North America Herbal Tea Market
- Latin America Herbal Tea Market
- Europe Herbal Tea Market
- Asia Pacific Herbal Tea Market
- Middle East and Africa Herbal Tea Market
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