The sale of flavored tea is growing exponentially as
consumers are opting for a healthy lifestyle. Flavored tea enriches the
properties of actual tea plant camellia sinensis. Tea infused with the flavors
of fruits, herbs, and spices have an added advantage of medicinal benefits,
driving the growth of the market. Moreover, flavored tea is gaining popularity
across the globe, as the demand for healthy food & beverages has been
increasing in recent years. These factors will support the flavored tea market
and is estimated to grow at the rate of about 4.2% from 2017 to 2023.
Market Forecast
The global flavored tea market is witnessing an impressive
growth over the last few years. This is attributed to the rising health
conscious people both in developed and developing economies. Also, increasing
disposable income of the consumers is anticipated to be the significant reason
for the growth of the flavored tea market during the forecast period. Growing
cases of obesity are projected to surge the demand for flavored tea further.
Additionally, key players in the global flavored tea market
are emphasizing to enhance their investment in the product development to
extend the product line. Also, the companies are inclined to increase their
footprints across the world by acquiring local and regional players. Apart from
that, the companies are introducing their products in the developing economies
to penetrate the untapped market. However, limited availability of spices &
herbs may hinder the market growth over the review period. Nevertheless, all
these factors are projected to contribute to the estimated CAGR of 4.2% of
flavored tea market during the forecast period, 2017-2023.
Downstream analysis
On the basis of the type, it is segmented into black tea,
green tea, white tea, and others. Among them, the black tea is dominating the
market. However, the green tea is anticipated to be the fastest growing segment
in the flavored tea over the forecast period.
On the basis of the flavor, it is segmented into fruits,
herbs, spices, and others. Among all, the herbs segment is anticipated to
dominate the market followed by the fruits segment. However, the spices segment
is projected to be the fastest growing segment during the estimated period.
Competitive analysis
The major players in flavored tea market
- Twining
and Company Limited. (U.K)
- Numi,
Inc. (U.S.)
- ITO
EN (North America) Inc. (U.S.)
- Tata
Global Beverages Ltd. (India)
- The
Unilever Group (U.K)
- Barry's
Tea Ltd. (Ireland)
- C.
Bigelow, Inc. (U.S.)
- Celestial
Seasonings, Inc. (U.S.)
- Harney
& Sons Tea Corp. (U.S.)
- Mighty
Leaf Tea Company (U.S.)
Complete Report Details @ https://www.marketresearchfuture.com/reports/flavored-tea-market-5603
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