Increasing Health Awareness and Emergence of Covid-19 to Augment Growth of Herbal Tea Market
The emergence of Covid-19 and the absence of effective treatment has led people to explore alternatives like traditional herbs to prevent flu and the common cold during the winter. Increasing health awareness and focus on boosting immunity is expected to propel the growth of the herbal tea market. Moreover, the launch of new products is also expected to aid in the growth of the market. For instance, in June 2019, Tropical Green Line Co., a company that specializes in modernized tropical herb-based products, announced the online grand opening event of its herbal tea brand “immersé tea”.
Herbal teas can play a major role in the treatment and management of respiratory difficulties caused by Covid-19. Thus the emergence of Covid-19 is expected to offer lucrative growth opportunities for players in the herbal tea market. For instance, globally, as of 9:26am CET, 30 December 2020, there have been 80,453,105 confirmed cases of COVID-19, including 1,775,776 deaths, reported to the World Health Organization. Moreover, the high prevalence of lifestyle diseases is also expected to aid in the growth of the market. For instance, according to the Centers of Disease Control and Prevention, Behavioral Risk Factor Surveillance System, 2018, 71424.3 thousand people in the U.S. suffer from obesity.
R&D in herbal tea is also expected to aid in the growth of the herbal tea market. For instance, in June 2020, the India-based National Institute of Pharmaceutical Education and Research reported the development of herbal tea that enhances personal immunity against any viral infection or its spread. However, product recalls are expected to hinder the growth of the herbal tea market. For instance, in August 2019, Mountain Mel’s Essential Goods, LLC recalled The Milk Lady’s Herbal Tea Blend, Peaceful Baby Herbal Tea Blend, and Diges-teas Herbal Tea Blend owing to potential salmonella contamination.
Competitive Analysis
Major players operating in the herbal tea market include Tata Global Beverages Limited, Martine Bauer Group, Unilever PLC, Twining Crosfield and Company Ltd., ITO EN Inc., Dilmah Ceylon Tea Company PLC, Mother Parkers Tea & Coffee Inc., Mountain Mel’s Essential Goods, LLC, Tropical Green Line Co., Teamonk Global, Weikfield Foods Pvt. Ltd., Dweller Teas, and Surya Herbal Ltd.
Major players operating in the herbal tea market are focused on the development and launch of new products to expand their product portfolio. For instance, in November 2020, India-based Dweller Teas launched its new “Nong-Mang-Kha Ginger Loose Tea’ to enable the public to consume more of the traditional herb, Nongmangkha.
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