Functional tea market size to grow by USD 3.13 billion from 2021 to 2026: Health benefits of functional tea will drive growth - Technavio

NEW YORK, Feb. 16, 2023 /PRNewswire/ -- Functional tea market insights -

• Vendors: 15+, including Arteasans Beverages LLC, Associated British Foods plc, Barrys Tea, Dilmah Ceylon Tea Co. Plc, ekaterra B.V, Godrej and Boyce Manufacturing Co. Ltd., Harney and Sons Fine Teas, Herbaty Szlachetne Sp. z o. o, Numi Inc., ORGANIC INDIA Pvt. Ltd., PHARMADUS BOTANICALS S.L, Tata Consumer Products Ltd., The Hain Celestial Group Inc., The Organic Merchants, The Republic of Tea, Tiesta Tea Co., Unilever PLC, Simple Life International Holdings Sdn Bhd, among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Type (herbal tea, fruit tea, flower tea, and others) and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

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The functional tea market size is estimated to grow by USD 3.13 billion from 2021 to 2026 at a CAGR of 6.27% according to Technavio.

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Functional tea market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• For highlights on customer landscape analysis, download a sample!

Functional tea market - Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including –

• Arteasans Beverages LLC - The company offers functional tea products in different flavors such as green tea, passion fruit, elderberry, black tea, blueberry, ginseng, white tea, mango, passionflower, yerba mate tea, peach, and rosemary.
• Godrej and Boyce Manufacturing Co. Ltd. - The company offers functional tea products such as cardamom d lite, ginger, ginger d lite, elaichi, cardamom, special cardamom, lemon, plain, special chai, and masala d lite.
• Herbaty Szlachetne Sp. z o. o - The company offers functional tea products such as classic, premium, green tea, matcha, green with additives, black, black with additives, pu erh, pu erh with additives, white with additives, and yerba mate.
• Numi Inc. - The company offers functional tea products such as immune boost, dandelion detox, throat soother, congest away, de stress, sweet slumber, jasmine green, orange spice, and chocolate pu erh.

Functional tea market – Market Dynamics

Major Drivers – 

• Health benefits of functional tea
• Growing demand for organic functional tea
• New product launches

KEY Challenges – 

• Availability of counterfeit functional tea products
• Availability of substitutes
• Growing preference for DIY at-home functional tea recipes

Drivers and challenges have an impact on market dynamics and can impact
businesses. Find some insights from a sample report.

The functional tea market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

What are the key data covered in this functional tea market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the functional tea market between 2022 and 2026
• Precise estimation of the size of the functional tea market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the functional tea market industry across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of functional tea market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

• 5.1 Market segments 
• Exhibit 24: Chart on Type - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

• 5.2 Comparison by Type 
• Exhibit 26: Chart on Comparison by Type
• Exhibit 27: Data Table on Comparison by Type

• 5.3 Herbal tea - Market size and forecast 2021-2026
• Exhibit 28: Chart on Herbal tea - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Herbal tea - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Herbal tea - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Herbal tea - Year-over-year growth 2021-2026 (%)

• 5.4 Fruit tea - Market size and forecast 2021-2026
• Exhibit 32: Chart on Fruit tea - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Fruit tea - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Fruit tea - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Fruit tea - Year-over-year growth 2021-2026 (%)

• 5.5 Flower tea - Market size and forecast 2021-2026
• Exhibit 36: Chart on Flower tea - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Flower tea - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Flower tea - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Flower tea - Year-over-year growth 2021-2026 (%)

• 5.6 Others - Market size and forecast 2021-2026
• Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.7 Market opportunity by Type 
• Exhibit 44: Market opportunity by Type ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 46: Chart on Market share by geography 2021-2026 (%)
• Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 48: Chart on Geographic comparison
• Exhibit 49: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 APAC - Market size and forecast 2021-2026
• Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
• Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026
• Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 Canada - Market size and forecast 2021-2026
• Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)

• 7.10 Germany - Market size and forecast 2021-2026
• Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.11 China - Market size and forecast 2021-2026
• Exhibit 82: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.12 UK - Market size and forecast 2021-2026
• Exhibit 86: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 87: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 88: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 89: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 91: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 93: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 94: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 95: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 96: Matrix on vendor position and classification

• 10.3 Arteasans Beverages LLC 
• Exhibit 97: Arteasans Beverages LLC - Overview
• Exhibit 98: Arteasans Beverages LLC - Product / Service
• Exhibit 99: Arteasans Beverages LLC - Key offerings

• 10.4 Godrej and Boyce Manufacturing Co. Ltd.
• Exhibit 100: Godrej and Boyce Manufacturing Co. Ltd. - Overview
• Exhibit 101: Godrej and Boyce Manufacturing Co. Ltd. - Business segments
• Exhibit 102: Godrej and Boyce Manufacturing Co. Ltd. - Key offerings
• Exhibit 103: Godrej and Boyce Manufacturing Co. Ltd. - Segment focus

• 10.5 Herbaty Szlachetne Sp. z o. o 
• Exhibit 104: Herbaty Szlachetne Sp. z o. o - Overview
• Exhibit 105: Herbaty Szlachetne Sp. z o. o - Product / Service
• Exhibit 106: Herbaty Szlachetne Sp. z o. o - Key offerings

• 10.6 Numi Inc. 
• Exhibit 107: Numi Inc. - Overview
• Exhibit 108: Numi Inc. - Product / Service
• Exhibit 109: Numi Inc. - Key offerings

• 10.7 PHARMADUS BOTANICALS S.L 
• Exhibit 110: PHARMADUS BOTANICALS S.L - Overview
• Exhibit 111: PHARMADUS BOTANICALS S.L - Key offerings

• 10.8 Tata Consumer Products Ltd. 
• Exhibit 112: Tata Consumer Products Ltd. - Overview
• Exhibit 113: Tata Consumer Products Ltd. - Product / Service
• Exhibit 114: Tata Consumer Products Ltd. - Key news
• Exhibit 115: Tata Consumer Products Ltd. - Key offerings

• 10.9 The Organic Merchants 
• Exhibit 116: The Organic Merchants - Overview
• Exhibit 117: The Organic Merchants - Key offerings

• 10.10 The Republic of Tea 
• Exhibit 118: The Republic of Tea - Overview
• Exhibit 119: The Republic of Tea - Product / Service
• Exhibit 120: The Republic of Tea - Key offerings

• 10.11 Tiesta Tea Co. 
• Exhibit 121: Tiesta Tea Co. - Overview
• Exhibit 122: Tiesta Tea Co. - Product / Service
• Exhibit 123: Tiesta Tea Co. - Key offerings

• 10.12 Unilever PLC 
• Exhibit 124: Unilever PLC - Overview
• Exhibit 125: Unilever PLC - Business segments
• Exhibit 126: Unilever PLC - Key news
• Exhibit 127: Unilever PLC - Key offerings
• Exhibit 128: Unilever PLC - Segment focus

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 129: Inclusions checklist
• Exhibit 130: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 131: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 132: Research methodology
• Exhibit 133: Validation techniques employed for market sizing
• Exhibit 134: Information sources

• 11.5 List of abbreviations 
• Exhibit 135: List of abbreviations

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