Market Overview
The worldwide Butterfly pea flower tea market is estimated to generate a market size of approximately USD 670.6 million by the end of the year 2028. However, the global market for butterfly pea flower tea has been expected to expand market value at a CAGR of 5.25% between the forecast period of 2021 to 2028. Butterfly pea flower tea is considered to be helpful in weight loss and detox diet. Thus, manufacturers are giving emphasis on consumer buying patterns to innovate new things.
The rising demand for herbal beverages is expected to drive the global Butterfly pea flower tea market growth during the predicted period. Moreover, the global market is estimated to bring lucrative opportunities for the key market players and vendors due to the increasing consumer inclination towards personal care. However, the high cost of herbal teas can affect the growth of the global market during the forecast period.
Market Segmentation
The global Butterfly Pea Flower Tea Market Overview shows that this market has significant growth with the combined support of various segments. These segments are segmented based on form, distribution channel, and category.
Based on the form segment, the global market for butterfly pea flower tea has been segregated into Tea Bags and Loose Leaves. Among these, the tea bags segment is predicted to hold the largest market share in 2020 because it is very convenient to carry, store, and use. In terms of distribution channel segment, the present market for butterfly pea flower tea has been categorized into Non-Store Based and Store-Based (supermarkets & hypermarkets, speciality stores, convenience stores, and others). Of these, the non-store-based segment is estimated to dominate the market growth in 2020.
On the basis of category segment, the current market for butterfly pea flower tea has been classified into Organic and Conventional. Among these, the conventional segment is estimated to acquire the largest market share in 2020 because of its affordability compared to organic tea.
Regional Analysis
As per the Butterfly Pea Flower Tea Market Size, the present market has been spread across Europe, North America, Asia-Pacific, and the rest of the world.
Of these, the dominating regional market is the North American market for the year 2020, and this market is estimated to continue the same in the further coming years. In this region, the US is predicted to acquire the largest Butterfly pea flower tea market share. This region is expanding due to the rising occurrences of anxiety and stress issues. The demand for butterfly pea flower tea is growing because it has stress-relieving properties, which are adopted by people to maintain different diets and healthy lifestyles. For instance, the fastest growth rate has been evident in the Asia Pacific region during the forecast period due to the presence of a large consumer base and the rising spending capacity of the consumers.
Industry News
In October 2021, the prominent player BLUE TEA INDIAhas competed with Teabox, Vahdam India, and Yogi Tea & Tea Forte (US) to show its presence across various regions like the US, UK, 6 More countries in the EU, and Australia via Amazon platform.
