Craft Tea Market size to hit USD 458.51 Mn by 2029 at a CAGR of 4.2 percent – says Maximize Market Research

By GlobeNewswire On Apr 4, 2023

Craft Tea Market share to increase by the growing awareness of health benefits and less caffeine in craft tea. Craft Tea Market analysis was conducted by segmenting the market into Product Type, End-User and Distribution Channel.

Pune, April 04, 2023 (GLOBE NEWSWIRE) — A global Food and Beverages business-consulting firm, Maximize Market research, has published a business intelligence report on the “Craft Tea Market”. The report uses a combination of qualitative and quantitative analysis to arrive to accurate inferences and provide a local as well as a global overview. Over the forecast period, Maximize Market research expects, the market to grow from USD 330.21 Mn in 2021 to USD 458.51 Mn in 2029 at a CAGR of 4.2 percent.

Craft Tea Market Report Scope and Research Methodology

Market Size in 2021	USD 330.21 Mn.
Market Size in 2029	USD 458.51 Mn.
CAGR	4.2 percent (2022-2029)
Forecast Period	2022-2029
Base Year	2021
Number of Pages	278
No. of Tables	116
No. of Charts and Figures	114
Segment Covered	Product Type, End-User and Distribution Channels
Regional Scope	North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage	Market Share, Size & Forecast by Revenue \| 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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The report mainly focuses on the factors including drivers, opportunities, restraints and challenges in the craft tea market. The analysis has been provided region-wise and segment-wise in the report, making it an investor’s guide. The list of global and regional players in the craft tea industry has been included in the report with their revenue and information on market share. It also provides strategic profiling of top craft tea companies in the market, a detailed analysis of their core competencies and their strategies such as new product launches, agreements, partnerships, joint ventures and acquisitions that apply to the craft tea businesses.

To estimate the global and regional craft tea market size, the bottom-up approach was used. The key players in the craft tea industry were identified through secondary research. Secondary research included a review of annual and financial reports of leading craft tea manufacturers, while primary research included interviews with opinion leaders and industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. SWOT analysis was conducted to provide the strengths, weaknesses, opportunities and threats of the craft tea market. PORTER, PESTEL analysis was employed to understand the potential impact of micro-economic and macro-economic factors on the craft tea market.

Craft Tea Market Overview

Craft Tea is made up of different leaves with adding extra roasting steps using a rare cultivar or aging the leaves. Hand-blended unique leaf tea blends are also called Craft Tea. Craft Tea is considered to be natural and environment-friendly made up from renewable sources. The Craft Tea market is growing due to the rising awareness of health benefits associated with it.

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Craft Tea Market Dynamics

Consumers’ awareness about health issues, an increase in the cases of chronic illnesses and changing lifestyles of people are factors contributing to the Craft Tea Market growth. Research and development activities related to health benefits associated with the consumption of Craft Tea are expected to boost the Craft Tea Market growth during the forecast period. Craft tea is rich in nutrients, and helps to produce hormones to relax and relieve stress. Craft tea contains anti-inflammatory and antioxidant compounds that help to enhance the immune system and the fifth against cold is influencing the Craft Tea Market growth.

Shortage of raw materials, import & export restrictions by the government and disruption of supply chains as most of the manufacturing facilities are closed are expected to hamper the Craft Tea Market growth. The higher production cost of craft tea is expected to be a restraining factor for the Craft Tea market growth over the forecast period.

Craft Tea Market Regional Insights

During the forecast period, the North American region is expected to dominate the global craft tea market. This growth of the North American Craft Tea Market is due to the increasing number of tea manufacturers and demand for craft tea in the region.

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The craft tea market Asia Pacific region is expected to grow at a significant growth rate during the forecast period. This growth of the Asia-Pacific Craft Tea Market is due to the rising awareness of the risks of carbonated beverages.

Craft Tea Market Segmentation

By Product Type

Blooming craft Tea
Active Craft Tea
Floating Floss Craft Tea

Based on Product Type, the active craft tea segment is expected to grow at a rapid CAGR during the forecast period. The blooming craft tea segment held a significant craft tea market share in 2021 and is expected to retain its dominance till the end of the forecast period.

By End-User

Commercial
Individual

Based on End-User, the individual segment held the largest share of the craft tea market and is expected to maintain its dominance during the forecast period.

By Distribution Channels

Online
Offline

Based on Distributional Channel, the offline segment held the largest craft tea market share in 2021 due to the availability of variety of tea in the retail and departmental stores.

Craft Tea Market Key Competitors include:

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

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Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by Product Type, End-User, Distribution Channels and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

Key questions answered in the Craft Tea Market are:

What is Craft Tea
What was the Craft Tea Market size in 2021?
What are the global trends in the Craft Tea Market?
What are the upcoming industry applications and trends for the Craft Tea Market?
What are the factors contributing to the final price of Craft Tea
What are the recent industry trends that can be implemented to generate additional revenue streams for Craft Tea Market?
Who held the largest market share in Craft Tea Market?
What growth strategies are the players considering to increase their presence in Craft Tea
Who are the leading companies and what are their portfolios in Craft Tea Market?
What are the major challenges that the Craft Tea Market could face in the future?

Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:

Tea Polyphenols Market – The market size is expected to reach USD 488.63 million by 2029 at a CAGR of 7.9 percent during the forecast period. The market is expected to be driven by increasing health awareness among consumers and technological development in the food industry.

Fruit Tea Market – The market size is expected to reach USD 6 billion by 2029 at a CAGR of 9.6 percent during the forecast period. The market is expected to be driven by the increasing popularity of the beverage among the health-conscious portion of the population.

Bubble Tea Market – The market size is expected to reach USD 5.36 billion by 2029 at a CAGR of 8.9 percent during the forecast period. The market is expected to be driven by the increasing consumption of tea across the world and consumer preference for this kind of beverage instead of carbonated drinks.

Coffee Market – The market size is expected to reach USD 186.41 billion by 2029 at a CAGR of 6.2 percent during the forecast period. The market is expected to be driven by the growth of local and global franchise shops with the increasing demand for a variety of coffee as customers are willing to pay for high-quality coffee, which has become the medium for socializing.

Tea Market – The market size is expected to reach USD 104.91 billion by 2029 at a CAGR of 6.6 percent during the forecast period. The market is expected to be driven by the rising health consciousness and disposable income with the increasing popularity of organic tea.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

CONTACT: Contact Maximize Market Research: 3rd Floor, Navale IT Park, Phase 2 Pune Banglore Highway, Narhe, Pune, Maharashtra 411041, India [email protected] +91 96071 95908, +91 9607365656

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