- The global flavored tea market is anticipated to record significant growth over the forecast period i.e. 2019-2027.
- The medicinal value of flavored tea over traditional tea is expected to increase product demand.
- Europe is expected to witness significant growth owing to consistent ongoing innovations to produce new blends and flavors.
The global flavored tea market is anticipated to record significant growth over the forecast period i.e. 2019-2027 owing to health benefits associated with flavored tea and an urban shift from traditional tea. Rapid industrialization and urbanization have led to change in lifestyle resulting in more health diseases.
The medicinal value of flavored tea over traditional tea is anticipated to increase product demand. The online distribution channel is anticipated to see significant market growth on the back of better connectivity with the people coupled with availability of wide range of products.
Segmentation
The global flavored tea market is segmented by type, distribution channel type and flavor type. On the basis of type, the market is segmented into loose leaf and CTC. On the basis of distribution channel, the market is sub segmented into online and offline. By flavor, the market is categorized into fruits which is further sub-segmented into lime, strawberry, apple and others. Another segment includes flowers which is further categorized into rose, jasmine, lavender and others. The herbs segment is further segmented into chamomile, mint, rosemary and others. The spices have been further bifurcated into cinnamon, cardamom and others.
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The loose leaf segment is expected to have leading shares owing to the increasing awareness of the people regarding the health benefits associated with consumption of green tea and black tea. Herb flavors are anticipated to have leading market share followed by spices flavor which is expected to witness rapid growth during the forecast period on the back of powerful medicinal properties of cinnamon.
Regional Analysis
Asia-Pacific is anticipated to witness highest market growth owing to increase in disposable income and rise in awareness about the health benefits in countries for instance, India and China. Additionally, the overall flavored tea demand is expected to increase with green tea production to rise at an annual rate of 7.5% by 2027 resulting in China to produce approximately double the tonnes by next decade. North America is anticipated to have steady growth on the back of awareness among the people about the health benefits of flavored tea and high buying capacity of people in the region.
Europe is expected to witness significant growth owing to consistent ongoing innovations to produce new blends and flavors.
Ease of availability of tea globally coupled with added taste and associated health benefits coupled with changing consumer buying behavior are expected to act as market drivers. However, high prices associated with the exotic teas are expected to operate as a key restraint towards the growth of global flavored tea market over the forecast period.
Key Players
This report also provides the existing competitive scenario of some of the key players of the global flavored tea market which includes company profiling of Associated British Foods plc., Apeejay Surrendra Group (Typhoo Tea) (India), Tata Global Beverages Ltd. (India), Goodricke Group Ltd. (India), Golden Tips Tea, Co. Pvt. Ltd. (India), Bettys & Taylors of Harrogate Ltd., Tetley, Dilmah Ceylon Tea Company Plc., Harney and Sons Fine Teas, Unilever and Other Prominent Players.
Further, for in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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