The Global Craft Tea Market Size is valued at 349.42 million in 2022 and is predicted to reach 524.92 million by the year 2031 at an 4.80% CAGR during the forecast period for 2023-2031.
Craft Tea is regarded as an eco-friendly, all-natural product that is derived from a renewable resource. Any craft tea beverage's beneficial hydration qualities demonstrate its ability to maintain a healthy fluid balance throughout the body and its capacity to regulate metabolism. Because of its health benefits, such as its ability to burn fat, reduce unhealthy appetite, and act as a natural appetite suppressant, craft tea is becoming more popular and is predicted to have sustained global sales.
The market is predicted that increased federal attempts to educate farmers about contemporary farming practices will loosen regulations and support the growth of the artisan tea market. An older population, an increase in chronic illness cases, a change in people's lifestyles, and an increase in consumer awareness of wellness issues are all factors that are expected to drive the growth of the worldwide craft tea market.
Additionally, due to the rising popularity of various tea flavors and a growing consumer base, introducing new tea flavors like citrus, mint, chocolate, and others are anticipated to increase the global market during the projection period significantly. The availability of a large variety of flavored teas globally has led to an expanding consumer base, which is anticipated to drive market expansion over the forecast period.
Moreover, the availability of tea replacements may cause customers to delay drinking tea during the forecast period.
Recent Developments:
- In 2021, Tata Consumer Varieties redesigned their Tetley Green Tea and added vitamin C to two new products, Tata Tea Tulsi Green and Tata Tea Gold Care. These fresh products are created with advantageous components that raise the body's defenses and increase wellness.
- In 2020, Yogi, tea purchased Granum Inc. (Choice Organic Teas), a business that produces organic teas. With this acquisition, the firm hopes to strengthen its portfolio of organic teas and compete in the rapidly expanding organic tea market.
Competitive Landscape:
Some of the major key players in the Craft Tea market are:
- Lupicia Co., Ltd
- Cofco
- Teasenz
- California Tea House
- Panella Foods And Beverages Private Limited
- Bettys And Taylors Group Ltd
- Fms Consumer Products Pvt Ltd
- Bharat Group
- Vahdam
- Stash Tea
Market Segmentation:
The craft tea market is segmented based on distributional channels, product type and end users. Based on distributional channels, the market is segmented as online and offline (Supermarkets and Hypermarkets, Specialty Stores, Convenience Stores, and Others). The craft tea market is segmented by product type into blooming craft tea, active craft tea and floating floss craft tea. Based on end users, segment the craft tea market into commercial and individual.
Based On Product, The Active Craft Tea Segment Is A Major Contributor To The Craft Tea Market
The active craft tea category is expected to hold a major share of the global craft tea market in 2021. because it strengthens the body's immune system, combats inflammation, and even prevents cancer and heart disease. One of the main factors driving the expansion is the increase in demand for active craft tea, notably active craft tea, among the public due to its antibacterial and antioxidant characteristics. The industry is also impacted by the rise in obesity cases worldwide due to changing lifestyles. Due to its ability to help people lose weight, active craft tea is becoming increasingly popular.
The Offline Segment Witnessed Growth At A Rapid Rate
The offline segment (Supermarkets and Hypermarkets, Specialty Stores, Convenience Stores, and Others) is projected to grow rapidly in the global craft tea market due to the wide selection of tea offered in retail and department stores. Since private consumption power primarily drives the consumption of these goods at bars and cafés, sustained growth in disposable personal income is anticipated to improve the industry over the projected period. It is anticipated that many industrialized and emerging countries will see sustained economic growth and increasing disposable incomes.
The North American Craft Tea Market Holds A Significant Regional Revenue Share
The North America craft tea market is expected to register the highest market share in revenue shortly. The global market is predicted to develop due to a shift in attitudes regarding tea consumption in social settings, rising youth and child tea consumption, and the growing popularity of cafés and fast-service restaurants in metropolitan areas. Other factors contributing to the industry's expansion include increased disposable income, a change in consumer preferences, and adding more healthful components to tea by various market participants. In addition, Asia Pacific is projected to proliferate in the global craft tea market. The demand for tea in Asia-Pacific is rising partly due to the health advantages of drinking tea and a rise in public awareness of the dangers of carbonated beverages. The growing understanding of the advantages of having tea for those with high blood pressure, arthritis, and cardiovascular disorders is probably going to pave the way for market expansion in the future.
Craft Tea Market Report Scope:
|
Report Attribute |
Specifications |
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Market size value in 2022 |
USD 349.42 Mn |
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Revenue forecast in 2031 |
USD 524.92 Mn |
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Growth rate CAGR |
CAGR of 4.80% from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments covered |
Distributional Channels, Product Type And End Users |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Lupicia Co., Ltd, Cofco, Teasenz, California Tea House, Panella Foods And Beverages Private Limited, Bettys And Taylors Group Ltd, Fms Consumer Products Pvt Ltd, Bharat Group, Vahdam, Stash Tea . |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
