Globally, the tea beverages market is growing at significant rate and this factor is supporting the growth of functional tea market. Introduction of various types of tea made from different ingredients and huge demand for healthy hot beverages is boosting the demand of functional tea across the globe. 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. Innovation in flavor and packaging form major players is attracting the consumers to buy functional tea compare to normal tea which is influencing the market growth in North America and Europe. Rising health awareness among consumer about health benefits of functional tea has boosted the demand of herbal and longjing functional tea.
The key players profiled in the functional tea market are as-
- Tata Tea Limited (India)
- Herbaty Szlachetne Sp. Z O.O. (Poland)
- Guangzhou Lohas Biological Technology Co., Ltd (China)
- Godrej Tea (India)
- The Mate Factor (U.S.)
- Organic India (India)
- Wuhan z-Micro Unite S&T Co., Ltd. (China)
Functional tea market has been segmented on the basis of type which includes fruit tea, herbal tea, longjing tea, flower tea and others. Herbal Tea holds the major market share and it is growing at moderate rate due to increasing demand of other types of functional tea.
Functional tea market has been segmented on the basis of form which includes broken tea, loose tea, instant tea powder and others. Instant powder tea is growing at higher rate compare to other forms of tea
Functional tea market has been segmented on the basis of function which includes heart health, weight loss, detox and others
Functional tea market has been segmented on the basis of packaging which includes can, bag, bottle, sachet and others
The 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. 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. The business expansion of key players in Middle East and Africa region is playing a key role in growth of functional tea market especially in countries like Iran and Kenya.