Global Herbal Beverages Market is Expected to Rise at a CAGR of 5.1% during 2021-2028
According to Vantage Market Research, the Global herbal beverages market was valued at USD 1.56 Billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% between 2021 to 2028.
Herbal beverages are also known as tisane, herbal infusion, or botanical infusion, and can be made with fresh or dried flowers, immature fruits, leaves, seeds, or roots by steeping (infusion) or boiling (decoction) of the source materials including herbs. Rising demand for organic products in developed economies is a vital factor escalating the market growth, also rising development of innovative flavors, increasing levels of disposable income of the people, rising health awareness among the consumers regarding the benefits of the tea, rising number of population across the globe and increasing trends of herbal product among the young population, are the major factors among others driving the herbal beverages market.
Herbal beverages fight against various diseases such as cold & cough, infections, insomnia, stomach issues, and others, which is driving the growth of herbal beverages in the market globally. Furthermore, the herbal beverage is a boon for cell rejuvenation and growth. It makes the tissues of the body stronger and as it is rich in anti-oxidant properties, it prevents cell damage; be it due to pollution or the effect of free radicals. It is even said that herbal tea is good for lowering the aging process. These are also some of the determinants driving market growth.
Whereas the major factor that is obstructing the herbal beverages market growth is that it has common side effects like headache, flushing of the skin, soreness in the mouth, heartburn, dermatitis, anaphylactic shock, vomiting, nausea, dizziness, and hormonal imbalance. These determinants are restraining the market growth of the herbal beverages market.
The Asia-Pacific is anticipated to exhibit the highest CAGR in the forecast period due to increasing consumer awareness and a growing senior population. Expanding product demand is expected to help the Middle East and Africa, and Latin America witnesses moderate growth in the forthcoming years.
Some of the major players operating in the global herbal beverages markets include Archer Daniels Midland Company (U.S.), Glanbia plc (Ireland), Herbalife International of America, Inc. (U.S.), Blackmores (Australia), and Nutraceutical International Corporation (U.S.). Other major players in the market are NBTY, Inc. (U.S.), Arizona Natural Products (U.S.), Ricola (Switzerland), NaturaLife Asia Co., Ltd. (Korea), and Bio-Botanica Inc. (U.S.).
Browse the full Report - Herbal Beverages Market by Type (Herbal Tea, Healthcare Drink, Sports Drink, Others) by Application (Normal Drinking, Functional Drinking , Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028