Herbal Tea Market Size to grow by USD 848.1 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Herbal Tea Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: The global market for soft drinks and non-alcoholic beverages encompasses sectors such as carbonated beverages, juices and juice concentrates, bottled water, functional beverages, sports drinks, and others, which include plant-based beverages, prebiotic and probiotic drinks, soy-based drinks, dairy-based drinks, and specialty drinks. According to Technavio's market analysis, the market size is determined by the consolidated revenues amassed by the manufacturers of these beverages, excluding earnings from soft drink and non-alcoholic beverage dispensing equipment sales. Innovations and new product launches represent a significant growth driver for this market, as the industry witnesses a steady influx of novel offerings. - The Herbal Tea Market is experiencing significant growth, fueled by the Wide availability of substitutes. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Wide availability of substitutes
  • Rising cost of raw materials
  • Rapid growth of e-commerce
  • Increased mergers and acquisitions
• Growth Projections

The market size is estimated to grow by USD 848.1 million, at a CAGR of 4.6% during the forecast period. The global herbal tea market is experiencing significant growth due to the increasing consumer preference for online sales channels. This trend is particularly prominent in emerging economies such as India and China, where the penetration of online sales is expanding into Tier-2 cities. Vendors in the herbal tea market are capitalizing on this trend by collaborating with online retailers to broaden their consumer reach. The health-conscious consumer demographic is driving the demand for herbal tea, which is available in abundance and at discounted prices on online sales platforms. The steady increase in demand for herbal products on digital marketplaces underscores the potential for further expansion in this sector.

For insights on company offerings- Request a sample report!

• Regional Insights

The herbal tea market represents a significant business opportunity, with increasing consumer preference for natural and organic beverages. Market growth is driven by health-conscious consumers seeking alternatives to caffeinated and sugary drinks. Key herbal tea categories include chamomile, ginger, peppermint, and rooibos, with potential for expansion into niche markets such as adaptogenic and functional blends. Companies can differentiate themselves through sustainable sourcing, innovative flavors, and effective marketing strategies.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/