Global Functional Tea Market – Overview:

Increased consumption of functional products owing to extraordinary health benefits has uplifted the global functional tea market. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Functional Tea Market Research Report- Forecast to 2030 that the market will demonstrate an exceptional CAGR 6.15% while achieving million-dollar growth readily in the forecast period.

The market is flooded with number of products and countless brands, giving number of choices for the consumers to buy. The growing concern for a better heart health and a perfect body has become the goldmine for the beverage industry across the globe. Moreover, growing awareness among consumers towards the harmful effects of chemical ingredients in tea and beverage products has raised the Functional Tea Market Insights to a considerable extent. The medicinal benefits of functional tea are well known in Asia-Pacific and its awareness is percolating to other parts of the globe. With the passage of time, the western countries are increasingly turning towards herbal products for daily consumption. A wide range of functional tea is now being used in the North American and European countries.

Various weight management trends such as healthy weight gain, and others are one of the key driving forces for this market, functional green tea has proven to raise the metabolism, provide a long stream of energy as compared to coffee, and also helps with weight loss to achieve the desired waistline. Functional tea isn’t known for replacement for an unhealthy diet, but it is a smarter way to follow a healthy lifestyle, holistic way to raise metabolism.

Functional tea has more antioxidants compared to other tea which is key reason it is preferred by health-conscious consumers. Trending healthy diets and lifestyle will drive the market growth from 2022 to 2030. Also, with the growth healthy beverages market and advancement in food technology coupled with the innovation and introduction of natural and organic functional tea products has boosted the sales of functional tea.

Global Functional Tea Market - Competitive Analysis:

Global functional tea market is progressively working on technological innovation over the recent years. Manufacturers are investing heavily in research and development and inspective activities to improve existing products and procedures in order to develop new products. Research and development will lead to development of new product to improve the quality of the product and improve its functionality by including better formulation. Key industrial players have been developing nutritive products to accommodate the healthy food movement, with clean labels ensuring food safety. Hindustan Unilever Company and Tata Tea Limited are the major manufacturers of tea and functional tea products and accounting for significant market share in both developed and developing economies.

The key players profiled in functional tea 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) and Wuhan z-Micro Unite S&T Co., Ltd. (China)

Global Functional Tea Market – Segments:

The global functional tea market has been divided into type, form, function, packaging and region.

On the Basis of Type: Fruit Tea, Herbal Tea, Longjing Tea, Flower Tea and Others

On the Basis of Form: Broken Tea, Loose Tea, Instant Tea Powder and Others

On the Basis of Function: Heart Health, Weight loss, Detox and  Others

On the Basis of Packaging: Can, bag, Bottle, Sachet and Others

On the Basis of Region: North America, Europe, Asia Pacific and ROW.

Global Functional Tea Market - Regional Analysis:

The global Functional Tea Market Outlook is segmented into North America, Europe, APAC, and Rest of the World (RoW).  Asia Pacific is the highest tea producing and consuming region characterized by the presence of key players. The trend is expected to continue in the upcoming period. The growth of the functional tea is anticipated to be driven by the various factors. One of the significant factors for the rising growth of functional tea is increasing awareness regarding health followed by rising urbanization in developing nation of Asia Pacific region. Rapidly increasing health issues in the population coupled with changing lifestyle and evolving dietary pattern has increased the demand of functional food products owing to extraordinary health benefits. Additionally, the presence of major players in Asia Pacific together with preferences toward ready-to-drink beverages is likely to drive the product growth over the review period.

Latest Industry Updates:

Apr-2016 Tetley in UK launched three new Tetley Super Green Teas extending the functional benefits of the range to feature European Food Standards Agency health claims relating to heart health, detox and beauty. Improved product launch by the company is strengthening company’s presence.

Aug 2017 British tea brand Natur Boutique launched a range of single-ingredient teas with flavors, and functional benefits. This development will help consumers to opt with enhanced products. Additionally, this will also help in company to grow in terms of revenue.

Sep 2017 Unilever acquired the organic herbal tea business, Pukka Herbs Ltd. This acquisition will help the company to come up with high quality functional tea products. Also, company is highly focused on acquisitions by top key players. This will help the company to mark its presence globally.

Mar 2017 Affinity Beverage Group, Inc., subsidiary Village Tea Company, Inc. announced that it has agreed to a went in joint venture partnership with Green Roads Wellness, LLC to develop, distribute and market a line of co-branded functional teas and potentially other organic food and beverage products. The company is extremely inclined towards partnerships and acquisitions for strengthening business portfolio.

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