Craft Tea market size reached USD 330.21 million in 2021 and is expected to reach USD 458.91 million by 2029, growing at a CAGR of 4.2 % during the forecast period. Craft tea is high-quality tea made by withering the leaves differently from the others, adding an extra roasting step, using a rare or uncommon cultivar, or aging the leaves. This type of tea is usually slightly different from other tea that is already available on the market. Craft Tea has considered an all-natural and environment-friendly product made from a renewable source. The healthy hydration properties offered by any craft tea beverage prove its ability to maintain proper fluid balance in the body and its metabolism-regulating traits. Thus, the awareness and demand for craft tea are increasing because of its health benefits, as it helps to burn fat, curbs unhealthy appetite, and acts as a natural appetite suppressant that is expected to fetch sustainable sales of Craft tea all over the world. Nowadays, Craft teas have become a common beverage seen in many stores and cafes. The consumer can order craft teas at coffee and tea shops as ready-to-drink bottled tea. Starbucks and Teavana have recognized this trend and implemented it in these ways. Starbucks' tea sales rose by 21%, which came from an interest in shaken iced teas and tea lattes. Starbucks creates its "Shaken Iced Teas" by combining tea, botanical blends, fruit, and cane sugar. To know about the Research Methodology :- Request Free Sample Report
Craft Tea Market Dynamics:Health benefits associated with the consumption of craft tea to drive the craft tea market growth Craft tea has quite many properties and researchers have come up with most of the health benefits. Modern-day tea brands have e-commerce sites and are very well acquainted with such medicinal properties. There are so many reputed brands available in the market that provides exotic collections of designer teas and consumer can buy this tea by using online platforms. The fragrant scent of craft tea can activate the parasympathetic nervous system, which produces hormones that help the body relax and relieves stress. Craft tea is also rich in many nutrients, which help to strengthen the immune system. Craft tea also contains significant amounts of anti-inflammatory and antioxidant compounds that help to enhance the immune system and fight against colds and flu. Craft tea is also rich in many nutrients, which help to strengthen the immune system. The above-mentioned health benefits are expected to increase the demand for the craft tea market during the forecast period. New Trend of Craft Tea Restaurants, café, and hotels are looking to elevate their tea business in the coming years. The vast variety of Craft tea options that are available today combined with increasing consumer demand and strong business models are driving the transformation of tea offerings in restaurants and food service establishments across the world. The flavors of tea offer numerous viable options for hotels, restaurants, and cafés, as an exciting alternative to the most common beverages such as carbonated drinks, coffee, or alcohol. Another surprise to many restaurateurs and food service providers is that Craft tea yields far higher profits than just about any other beverage in North America Region. Overall, Craft tea is an ideal complement to the current trends and provides opportunities for business growth during the forecast period.
Competitive LandscapeThe global Craft tea market is highly competitive with strong competitors with a diversified product portfolio, leading to high competition among the existing players. The key players in the craft tea market enjoy a dominant presence across the world. The global craft tea market is highly influenced by the immense number of new companies that are brought into this market to compete with each other and to bring the graph higher every year. Companies are constantly trying to provide consumers with new and innovative products that meet consumer demands. Key players have actively started the industry consolidation process by utilizing existing distribution channels, establishing partnerships with local distributors, especially in emerging nations, and developing new products. The research provides an accurate forecast of the market's future state over the next few years. Constraints in Craft Tea Production Act as a Key Restraint for Craft Tea Market Growth The lack of knowledge regarding proper farming practices for the manufacturing of craft tea acts as a restraint for market growth. Tea growers generally lack the expertise to convert their conventional farming techniques to become more productive and sustainable. The production cost of craft tea is comparatively higher, which hampers the growth of the craft Tea market. The certification process involved in craft tea production and sales in the international market is also very expensive. However, Rising efforts by the government to spread awareness regarding advanced agricultural practices among farmers are expected to reduce these constraints and support the growth of the craft tea market during the forecast period.
Craft Tea Market Segment Analysis:Based on product type, the market is segmented into blooming craft tea, active craft tea, and floating floss craft tea. The active craft tea segment is expected to grow at the highest CAGR during the forecast period, thanks to boosts the immune system, fights off inflammation, and even wards off cancer and heart disease. The blooming craft tea segment held a significant market share in 2021 and is expected to maintain its leadership position during the forecast period. Based on end users, the individual segment held major share in the market and is likely to maintain its dominance throughout the forecast period, thanks to the regular consumption of craft tea by individuals. The rise in awareness of health benefits and less caffeine in craft tea is boosting the craft tea market growth during the forecast period. Based on distribution channels, the offline segment held the highest craft tea market share in the market in 2021 because of the availability of a variety of tea in the retail store and departmental stores.
Craft Tea Market Regional InsightsThe demand for craft tea in the Asia-Pacific region is increasing in part due to the health benefits of having tea and a growth in public awareness of the risks of carbonated beverages. The development of new products and flavorings, such as ready-to-drink tea, premium tea, and herbal and fruit fusions are all expected to increase the craft tea industry. Future market growth is likely to be aided by the increasing awareness of the health advantages of drinking tea for people who have high blood pressure, arthritis, and cardiovascular conditions. Green tea is becoming increasingly popular among health-conscious customers. The North American region dominates the craft tea market during the forecast period. The increase in the number of food joints such as hotels & restaurants has fueled the demand for the craft tea market in this region. The research report focuses on the major driving factors and restraints that affect the craft tea market. Global and regional players in the craft tea industry are discussed in depth, including revenue data and market share information. The craft tea market analysis includes trends in Craft Teas, information about the potential market and needs, and lists of potential competitors. MMR has segmented the global craft tea market report based on nature, form, application, distribution channels, and region. The report contains strategic profiling of top key players in the market, a wide-ranging analysis of their core competencies, and their strategies like new product launches, growths, agreements, joint ventures, partnerships, and acquisitions that apply to the businesses.
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Craft Tea Market Report Coverage Details Base Year: 2021 Forecast Period: 2022-2029 Historical Data: 2017 to 2021 Market Size in 2021: US $ 330.21 Mn. Forecast Period 2022 to 2029 CAGR: 4.2% Market Size in 2029: US $ 458.51 Mn. Segments Covered: by Product Type • Bloomingcraft Tea • Active Craft Tea • Floating Floss Craft Tea by End-User • Commercial • Individual by Distribution Channels • Online • Offline
Craft Tea Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Craft Tea Market Key Players are:• LUPICIA CO., LTD • COFCO, Teasenz • California tea house • Panella Foods and Beverages Private Limited • Bettys & Taylors Group Ltd • FMS Consumer Products Pvt Ltd • Bharat Group • Stash Tea • NORD-T • AHCOF INTERNATIONAL • Blue Lake Group • Lupicia • Fu Ming Fang • Chayuanchuanshi Tea • China Tea • Fuan Gongfu Tea FAQs: 1. Who are the key players in the Craft Tea market? Ans. Blue Lake Group and Lupicia are some of the market players in the Craft Tea industry. 2. Which product type segment dominates the Craft Tea market? Ans. The Bloomingcraft Tea segment accounted for the largest share of the global Craft Tea market in 2021. 3. How big is the Craft Tea market? Ans. The global Craft Tea market size reached USD 330.21 Mn. in 2021 and is expected to reach USD 458.51 Mn. by 2029, growing at a CAGR of 4.2 % during the forecast period. 4. What are the key regions in the global Craft Tea market? Ans. Based On the region, the market has been classified into North America, Europe, Asia Pacific, Middle, East and Africa, and Latin America. Asia Pacific dominates the global Craft Tea market.
1. Global Craft Tea Market: Research Methodology 2. Global Craft Tea Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Craft Tea Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Craft Tea Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Craft Tea Market Segmentation 4.1 Global Craft Tea Market, by product type (2021-2029) • Blooming craft Tea • Active Craft Tea • Floating Floss Craft Tea 4.2 Global Craft Tea Market, by end-user (2021-2029) • Commercial • Individual 4.3 Global Craft Tea Market, by Distribution Channel (2021-2029) • Online • Offline 5. North America Craft Tea Market(2021-2029) 5.1 North America Craft Tea Market, by product type (2021-2029) • Blooming craft Tea • Active Craft Tea • Floating Floss Craft Tea 5.2 North America Craft Tea Market, by end-user (2021-2029) • Commercial • Individual 5.3 North America Craft Tea Market, by Distribution Channel (2021-2029) • Online • Offline 5.4 North America Craft Tea Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Craft Tea Market (2021-2029) 6.1. European Craft Tea Market, by product type (2021-2029) 6.2. European Craft Tea Market, by end-user (2021-2029) 6.3. European Craft Tea Market, by Distribution Channel (2021-2029) 6.4. European Craft Tea Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Craft Tea Market (2021-2029) 7.1. Asia Pacific Craft Tea Market, by product type (2021-2029) 7.2. Asia Pacific Craft Tea Market, by end-user (2021-2029) 7.3. Asia Pacific Craft Tea Market, by Distribution Channel (2021-2029) 7.4. Asia Pacific Craft Tea Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Craft Tea Market (2021-2029) 8.1 Middle East and Africa Craft Tea Market, by product type (2021-2029) 8.2. Middle East and Africa Craft Tea Market, by end-user (2021-2029) 8.3. Middle East and Africa Craft Tea Market, by Distribution Channel (2021-2029) 8.4. Middle East and Africa Craft Tea Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Craft Tea Market (2021-2029) 9.1. South America Craft Tea Market, by product type (2021-2029) 9.2. South America Craft Tea Market, by end-user (2021-2029) 9.3. South America Craft Tea Market, by Distribution Channel (2021-2029) 9.4 South America Craft Tea Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 LUPICIA CO., LTD 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 COFCO, Teasenz 10.3 California tea house 10.4 Panella Foods and Beverages Private Limited 10.5 Bettys & Taylors Group Ltd 10.6 FMS Consumer Products Pvt Ltd 10.7 Bharat Group 10.8 VAHDAM 10.9 Stash Tea 10.10 NORD-T 10.11 AHCOF INTERNATIONAL 10.12 Blue Lake Group 10.13 Lupicia 10.14 Fu Ming Fang 10.15 Chayuanchuanshi Tea 10.16 China Tea 10.17 Fuan Gongfu Tea