PUBLISHER: Allied Market Research | PRODUCT CODE: 1179812
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179812
The global hemp tea market is envisioned to garner $392.8 million by 2031, growing from $56.2 million in 2021 at a CAGR of 22.1%.
Hemp tea, a refreshing herbal beverage, which is made from hemp leaves, stems, flowers, or buds. Hemp tea helps in reducing stress, anxiety, depression, and pain. Over the past few years, growth trajectories have been dramatically impacted by manufacturers' race to develop environmentally friendly products.
The rising global appeal of plant-based super foods is another major trend that has pushed the boundaries of product development in the market for hemp tea products. These factors have positively impacted the demand for hemp tea or CBD tea during the recent times. The popularity of veganism is growing as more people are becoming aware regarding the numerous health benefits of hemp and hemp tea. These factors are anticipated to promote hemp tea market growth over the course of the analysis.
However, companies who sell hemp and goods made from cannabidiol must be abide by local laws in each nation. Despite the fact that different varieties of hemp tea with varying degrees are legalized around the world, manufacturers and other stakeholders might find it challenging to adhere to the strict regulatory standards that apply to the cultivation and sale of industrial hemp in different states within the same country. These factors are projected to limit the hemp tea market size during the analysis timeframe.
Furthermore, the demand for hemp tea is rapidly rising all around the world. Maintaining body weight and lowering anxiety and depression are just a few of the health advantages of hemp tea. Additionally, hemp tea is a great source of nutrients, vitamins, minerals, and antioxidants, all of which improve one's health. Many consumers have been drawn to test these new herbal items made from plants because of the advantages of hemp tea. During the anticipated term, this factor is likely to fuel the hemp tea industry growth.
The market for hemp tea suffered a serious setback during the COVID-19 pandemic. The dangerous coronavirus infected millions of people worldwide on a daily basis and had a negative impact on their health. The accessibility of raw ingredients for the production of hemp tea was restricted in addition to the overall lockdown and travel restrictions that has affected the hemp tea market revenue during the pandemic.
The key players profiled in the hemp tea market report include ItsHemp, Willie's Remedy, Clipper Teas, Buddha Teas, Traditional Medicinals, The Tea Can Company, Cannabiniers, Colorado Harvest Company, Charlotte's Web, and Green Roads
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