According to a new report from analysts at Vantage Market Research, the herbal beverages market (which includes tea) is expected to reach US2.45 billion by 2028, growing at a CAGR of 5.1 percent between 2021 and 2028.
Factors like rising awareness of the advantages of herbal-based beverages – such as replenishing skin from the inside, enhancing health, supporting healthy joints and rejuvenating the body – are facilitating the growth of the market for herbal beverages, according to the research firm.
Key Findings from the Report
--- The herbal tea segment is anticipated to grow more than 4.6 percent CAGR over the forecast period. Herbal tea advantages range from mental to physical wellbeing, including immune system support, stress alleviation, reduced inflammation and more, and these benefits are accelerating market growth of herbal tea.
--- North America is expected to expand at a CAGR of more than 6.1 percent between 2021 and 2028. The region is comprised of numerous big market players, and many people consume herbal drinks as part of their daily routine. In fact, the ready-to-eat and drink food and beverages market is leading in the region, and spurring growth for herbal beverages in North America.
--- Asia Pacific is likely to record a substantial CAGR in this sector. Herbal drinks have been used as part of the natural food culture in nations where conventional medicines are not as broadly used. Herbal teas made from Cassia auriculata, Aegle marmelos, Hemidesmus indicus and Aerva lanata are everyday beverages and part of the social food culture in Sri Lanka and India, for example. China is another nation where herbal drinks are often consumed on an everyday basis, to reduce the risk of some health-related affairs of various severity – from colds to diseases related to liver and various other organs, and to promote health.
--- According to Vantage Market Research, herbal beverages are being consumed by consumers as part of a healthy diet and lifestyle. Herbal beverages are also a rich source of bioactive natural compounds, such as phenolic acids, carotenoids, coumarins, flavonoids, polyacetylenes, alkaloids, terpenoids and saponins, among others. Commonly, herbal beverages are prepped from natural ingredients of numerous morphological plant parts, such as, stems, roots, leaves, buds, flowers and fruits.
--- Herbal beverages are specifically gaining popularity among consumers who are health conscious. Vantage Market Research says that herbals have entered a growing niche market combined with beverages such as tea, coffee and cocoa, which are also prepped using plant-based materials. In addition, the research firm notes that a rapidly increasing number of consumers choose to drink herbal beverages for weight loss, slimming and various other cosmetic purposes. All these factors are helping the herbal beverages market to grow globally.
Key Players
Just some of the key players in the herbal beverages market are Coca-Cola, Ting Hsin International Group, Suntory, Jiaduobao Group, Kirin, Dr Pepper Snapple, Unilever Group, Asahi Soft Drinks, Danone, Nongfu Spring, Hangzhou Wahaha Group and Red Bull, among others.
New product development, mergers and acquisitions and other strategies by these market players is expected to increase their market share.
To learn more about Vantage Market Research and the report, visit VantageMarketResearch.com.
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