The global functional tea market since 2016 and the market is poised to grow by USD 2.89 billion during 2019-2023, progressing at a CAGR of almost 5% during the forecast period.
The market is driven by the health benefits of functional tea. In addition, the premiumization of functional tea products is anticipated to further boost the growth of the functional tea market.
Consumers prefer to consume functional tea over other beverages because it contains herbs and medicinal plant extracts that are beneficial for the body. Tea products infused with healthy functional ingredients not only provide protection against colds but also improve digestion and immunity. Vendors are offering tea products that contain hibiscus flower petals that helps in minimizing blood sugar and blood pressure levels. Similarly, tea products containing ginger, citrus, and mint help to relax a tired body. The growing consumer awareness about the availability of such tea products and their benefits will boost the sales of these products. Thus, the health benefits of functional tea are expected to drive market growth during the forecast period.
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Major Five Functional Tea Market Companies:
Arteasans Beverages LLC
Arteasans Beverages LLC operates businesses under various segments and offers various tea products, such as green tea, black tea, and white tea. It is headquartered in the US. The company also offers key functional tea products such as yerba mate tea.
Fito Ltd. manufactures and offers a wide variety of tea products, such as bitter melon tea, organic burdock root tea, diet tea with garcinia cambogia, and others. One of the key functional tea products offered by the company is organic lemongrass tea.
Godrej Group offers products through various product segments, namely home care, hair care, personal care, and others. One of the key functional tea products offered by the company is green tea.
Granum Inc. offers a variety of teas such as shiitake, oolong and licorice mint. It is a private company and is headquartered in the US. The company is also known to offer functional tea products such as English breakfast.
Herbaty Szlachetne Sp. z o.o
Herbaty Szlachetne Sp. z o.o offers various products through segments such as teas without additives, teas with toppings, flowering teas, packed teas, and others. The company offers plain teas such as Assam black power TGFOP, Bancha Japan style, Ceylon BOP1, China Chun Mee, and others.
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