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Kombucha Tea Market
the demand for kombucha tea is expected to increase during the forecast period, owing to rise in consumer demand for kombucha tea as a functional beverage
PORTLAND, OR, UNITED STATES, November 19, 2021 /EINPresswire.com / -- Kombucha Tea Market by Product Type, Nature, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2028,” the global kombucha tea market size was valued at $2.3 billion in 2020, and is projected to reach $4.5 billion by 2028, registering a CAGR of 8.6% from 2021 to 2028. Kombucha tea is a fermented green tea or black tea, which is associated with a range of health-promoting benefits such as it helps to boost immunityand protects against cancer. Expansion of distribution channels such as online stores, supermarkets, hypermarkets, and food service has made kombucha tea easily available to customers, which, in turn, contributes toward the market growth. Moreover, ready-to-drink kombucha tea is one of the new trends gaining high traction in the global market.
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The outbreak of coronavirus has positively impacted the kombucha tea market along with all stages of supply chain and value chain. Owing to the COVID-19 outbreak, consumers have become more concerned about their overall health & wellness. This is attributed to the fact that they have acknowledged that COVID-19 is impacting their mental & physical well-being. This, in turn, is propelling the demand for wellness beverages, including kombucha tea, which is anticipated to boost the growth of the global kombucha tea market.
The global kombucha tea industry is segmented into product type, nature, sales channel, and region. By product type, the market is classified regular and flavored. Depending on nature, it is divided into conventional and organic. As per sales channel, it is segregated into supermarket/hypermarket, specialty stores, online store, and others. Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, ASEAN, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa,Turkey, and rest of LAMEA).
By product type, the flavored segment is anticipated to grow at the highest CAGR during the forecast period, owing to rise in demand among consumers for different flavors of kombucha tea such as match tea infused with apple flavor, ginger, and mint. In addition, flavoredkombucha tea offers additional health benefits of spices, herbs, and fruits, thus providing maximum benefits and different taste.
Depending on nature, the organic segment is anticipated to grow at the highest CAGRduring theforecast period. This is attributed to rise in number of health-conscious consumers and increase inconsumer awareness regarding health benefits associated with consumption of organic kombucha tea.
On the basis of sales channel, the online store segment is anticipated to grow at the fastest rate, owing to rise in use of online platforms for purchase of kombucha teaamong customers. This is attributed to easy availability of different brands of kombucha teaon online platform. Moreover, online stores provide information about the products such as their health benefitsand ingredients. In addition, these stores have the facility of home delivery, which increase consumers inclination toward them.
Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. In the recent past, many leading players opted for product launch as a business strategy to streng then their foothold in the kombucha tea market. To underst and the key kombucha tea market trends of the market, strategies of leading players are analyzed in the report. Some of the key players in the kombucha market analysis includes include Asheville Kombucha Mamas, LL, The Coca-Cola Company, GT's Living Foods, Humm Kombucha, LIVE Kombucha Soda, Marin Kombucha, Remedy Drinks, Toyo Kombucha, PepsiCo, Inc., and Brew Dr. Kombucha.
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Key findings of the study
•By product type, the flavor segment garnered the highest share in 2020, and is expected to growat a CAGR of 9.2% from 2021 to 2028.
•Depending on nature, the conventional segment accounted for the highest market share in 2020, and is estimated to exhibit a CAGR of 7.8%.
•As per sales channel, the online store segment led the market, in terms of share, in 2020, and is projected to register a CAGR of 11.0%.
•Region wise, North America garnered the maximum share in 2020, and is expected to dominate the market during the forecast period.
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