“Global Fruit Tea Market” is the title of an upcoming report offered by MarketResearch.Biz. The research process involved the study of various factors positively or negatively impacting the industry, as well as the effects of the more recent COVID-19 pandemic situation that has globally disrupted business. Also, market risks, opportunities, growth market barriers and challenges, and future scenarios have been covered in the report. Factors considered include government policies and mandates, the market environment, competitive landscapes, historical data, current and historical trends in the market, technological innovations, new solutions and modifications made to existing provisions, upcoming technologies and the technical progress of related industries. The research study involved the extensive usage of expert opinions, using both primary and secondary data sources and efforts. The global fruit tea market has been segmented on the basis of product, distribution channel, as well as regions and countries.
Overview:
Fruit tea is black tea that has been infused with the essence of a fruit or fruit flavors such as apple, cherry, blackcurrant, peach, lemon, strawberry, orange, etc. Most of these teas are made from combinations of fruits, as well as herbs and spices.
Dynamics:
A primary factor that is set to significantly contribute to the revenue growth of the global fruit tea market is the growing popularity of this product among health-conscious individuals owing to its lower caffeine content. The numerous health benefits associated with the consumption of fruit tea is resulting in a greater number of occasional and regular tea consumers switching preferences for this product.
With the unfortunate outbreak of COVID-19 virus in December 2019, industries of all sizes have been drastically affected on a global-scale. The lack of manpower, necessary equipment, transportation, as well as the other costs associated with doing business in the global fruit tea market are expected to restrain revenue growth. It is due to major factors such as these, that revenue growth of the global fruit tea market is slated to take a significant toll and recovery from this crisis is expected to take two or more years.
In a bid to attract a higher number of consumers and to increase popularity of these products, manufacturers now pay close attention to the origins of the raw product to ensure that it is ethically sourced. Owing to increasing awareness concerning the adverse effects of plastic packaging, manufacturers are also focusing eco-friendly, recyclable packaging options, which in turn, is positively impacting the popularity of these infused products.
Segmentation of the global fruit tea market is as follows:
In terms of product, the conventional product segment accounted for a majority revenue share of the global fruit tea market in 2019, owing to factors such as affordable pricing and the ease of accessibility to these products. On the other hand, the demand for organic products are steadily increasing due to the growing health concerns of individuals and the ways by which this product can offer suitable remedies.
With respect to distribution channel, the offline distribution channel accounted for the majority revenue share of the global fruit tea market in 2019 due to the vast number of supermarkets, department stores, tea houses, grocery stores, etc. around the globe. The online distribution channel is expected to register the fastest rate of growth over the next 10 years owing to a large number of newer market players making their products available online. Given the current global situation concerning Covid-19, many businesses will be looking to re-evaluate their current business models with respect to the transportation and delivery of their end products.
Regional Segmentation and Analysis:
The market in the Asia Pacific region accounted for the majority revenue share in 2019, owing to the large presence of manufacturers in this region. However, the market in North America is expected to register the fastest CAGR over the next 10 years due to a steady increase in the number of individuals shifting their preferences towards healthy, fruit-flavored beverages. Another contributing factor to this projected growth is the rising popularity of ready-to-drink and ice fruit-infused beverages.
Segmentation of Global Fruit Tea Market:
Segmentation by Product:
- Conventional
- Organic
Segmentation by Distribution Channel:
- Online
- Offline
Segmentation by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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