PUBLISHER: Allied Market Research | PRODUCT CODE: 1193183
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193183
The craft tea market was valued at $331.7 million in 2021 and is projected to reach $465.3 million by 2031, registering a CAGR of 3.5%. North America region held the major share in the market.
Tea is the most commonly consumed drink after water, with several health benefits. The aromatic beverage is made via processing and fermentation of Camellia Sinensis plant leaves. It contains potential antioxidants known as flavonoids, which stabilize harmful free radicals in the body. In addition, tea comprises vitamins C, K, B12, B6, & E; trace amount of potassium, manganese, magnesium, & calcium minerals; and different amino acids such as L-theanine. Several studies and researches on tea suggest that it prevents cancer, lowers cholesterol, facilitates weight loss, and enhances immunity.
The growth of the craft tea market is driven by increase in health-related concerns of people, which is shifting their attention from carbonated drinks to tea. Furthermore, rise in cafe culture, growth in disposable income, change in tastes of people, and introduction of additional healthy ingredients in tea by different market players are some other factors that drive the growth of the market. However, increase in cost of raw materials due to unpredictable weather, high cost of production, and increase in trend of coffee consumption are expected to hamper the growth of market during the forecast period. Furthermore, pandemic and the disruption in the supply chain may further hamper growth of craft tea market. On the contrary, growth in demand from health-conscious young population and introduction of new flavor & variety are anticipated to provide lucrative opportunities for expansion of the market.
The craft tea market is categorized into product type, end user, distribution channel, and region. By product type, it is classified into blooming craft tea, active craft tea, and floating floss craft tea. On the basis of end user, it is bifuecated into commercial and individual. By distribution channel, the market is categorized into online and offline. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, Netherland, Italy, Belgium, Russia, France, Spain and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Pakistan, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil Argentina UAE, Saudi Arabia, Chile, Algeria, Nigeria, Egypt, South Africa, and rest of LAMEA)
The key players in the Craft tea market are LUPICIA CO., LTD, COFCO, Teasenz, California Tea House, Panella Foods and Beverages Private Limited, Bettys & Taylors Group Ltd, FMS Consumer Products Pvt Ltd, Bharat Group, VAHDAM, and Stash Tea.
Key Benefits For Stakeholders
By Distribution Channel
By Product Type
By End User
By Region