Market Research Report
Butterfly Pea Flowers Market by Type (Whole Dried Flowers, Powder, Extract), Application (Food Products, Beverages, Tea), Distribution Channel (Direct, Indirect), and Geography - Global Forecast to 2027
|Published by||Meticulous Market Research Pvt. Ltd.||Product code||980823|
|Published||Content info||111 Pages
Delivery time: 1-2 business days
|Butterfly Pea Flowers Market by Type (Whole Dried Flowers, Powder, Extract), Application (Food Products, Beverages, Tea), Distribution Channel (Direct, Indirect), and Geography - Global Forecast to 2027|
|Published: January 6, 2021||Content info: 111 Pages||
The research report titled "Butterfly Pea Flowers Market by Type (Whole Dried, Powder, Extract); Distribution Channel (Direct, Indirect); Application (Beverages, Tea, Food Products); and Geography -Global Forecast to 2027" provides an in-depth analysis of the butterfly pea flowers market across the globe emphasizing on the current market trends, market size, recent developments, and providing the forecast till 2027. The butterfly pea flowers market is expected to grow at a CAGR of 5.5% from 2020 to 2027 to reach USD 102.4 million by 2027.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and challenges. This market is characterized by more diversified operations, which offer shelf-stable and healthy products, mainly due to the growing use of butterfly pea flower products as natural food colors, increasing demand for healthy tea alternatives, and a wide range of butterfly pea flower benefits. Increased research for new raw material sources provides significant opportunities for manufacturers in the butterfly pea flowers market. However, changing government regulations is expected to restrain the future growth of this market marginally.
Based on type, the sterilized powder segment is estimated to grow at the highest CAGR during the forecast period. This can be attributed to its wide availability and ease of handling, transportation, and storage.
Based on distribution channel, the indirect/B2C segment is expected to dominate the butterfly pea flowers market during the forecast period of 2020-2027. The dominant position of this segment is mainly attributed to the traditional consumption of flowers and well-established commercial farming for these flowers in the region, especially in Thailand. Increased online shopping and social media use further support the growth of this segment.
Based on application, the beverages segment is expected to witness the fastest growth during the forecast period. The rapid growth of this segment is mainly attributed to the growing consumer interest in traditional beverages, specifically in regional cultures, greater nutritional value, increasing per capita spending on beverages, the expanding retail sector, and increased use of butterfly pea flowers as a raw material for producing multiple color options for beverages.
An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights about the five geographic regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The Asia-Pacific region is expected to dominate the butterfly pea flowers market with the fastest CAGR during the forecast period. The large share of this region can be attributed to the presence of a large number of butterfly pea flower farmers and a well-established commercial farming market for butterfly pea flowers, especially in Thailand. Also, the growing application areas of butterfly pea flowers, increasing awareness about the health benefits of butterfly pea flowers, strong food and beverage manufacturing base, and the emerging trend of healthy food and food ingredients further support the growth of this region.
The key players operating in the butterfly pea flowers market are TSUJIKO Co., Ltd., Siam Industries International, Siam Hibiscus Limited, Arisun ChemPharm Co, Ltd., EverforEver BioTech, Paraman Food Works, Shaanxi Hongda Phytochemistry Co., Ltd., Specialty Natural Product Co., Ltd., Woodland Foods, My Blue Tea, Wild Hibiscus Flower Co., and Yumchaa, among others.
Key Questions Answered in the Report-
Butterfly Pea Flowers Market, by Type
Butterfly Pea Flowers Market, by Distribution channel
Butterfly Pea Flowers Market, by Application
Butterfly Pea Flowers Market, by Geography