The Global Chrysanthemum Tea Market size is expected to reach $217 Million by 2030, rising at a market growth of 4.8% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,156.1 Tonnes, experiencing a growth of 4.8% (2019-2022).
Floral-infused beverages like chrysanthemum tea offer a unique and distinct flavor profile that differentiates them from traditional teas and beverages. Therefore, the chrysanthemum indicum segment would acquire around 3/4th share in the market by 2030. Chrysanthemum indicum has gained popularity for its alleged anti-inflammatory and antioxidant properties, which have the potential to improve liver health, encourage digestive effectiveness, and lessen respiratory discomfort. Chrysanthemum indicum tea has become more popular among people who value plant-based beverages and seek health advantages as part of their wellness routines. Some of the factors impacting the market are increasing tea consumption globally, increasing awareness of health benefits of teas, and insufficient awareness and familiarity.
According to the Food and Agriculture Organization of the United Nations, the estimated annual value of tea commerce, a significant source of export revenue, is approximately USD 9.5 billion. The annual value of tea production globally is about USD 17 billion. Over the past decade, tea consumption per person increased by 2.5% globally, with substantial rises in tea-producing countries. The demand rise, fuelled by rising and expanding economies, has been dominated by Africa, East Asia, Latin America, the Caribbean, and the Near East. Additionally, Tea is a popular beverage all around the world. A variety of flavours and varieties are available for this hydrating beverage. Tea is an essential beverage in numerous cultures. Due to the absence of calories, tea is a great addition to a low-calorie diet. Along with cognitive problems, heart disease, stroke, diabetes, and other illnesses, tea is associated with a lower risk of many other diseases. According to multiple studies, various teas may strengthen the immune system, reduce inflammation, and possibly ward off cancer and heart disease. Hene, these benefits significantly support tea consumption, thereby driving the growth of the market.
However, Chrysanthemum tea may not be widely known or understood by consumers, especially in regions where it is less commonly consumed. The lack of awareness means that potential consumers may not recognize the tea's potential health benefits or how to prepare it. Limited awareness often leads to low demand for chrysanthemum tea products. When consumers are unfamiliar with a product, they are less likely to seek it out or incorporate it into their daily routines. Lack of awareness can lead to misconceptions about chrysanthemum tea. For example, consumers may confuse it with other herbal teas or may not fully understand its flavor and potential health benefits.
On the basis of application, the market is bifurcated into residential and commercial. The residential segment garnered a significant revenue share in the market in 2022. Chrysanthemum tea is primarily consumed as a beverage in households. It can be brewed using dried chrysanthemum flowers or purchased as pre-packaged tea bags. It's a popular choice for a refreshing and calming drink, whether served hot or cold. Chrysanthemum tea has many residential applications, from a soothing and refreshing beverage to a potential herbal remedy for various purposes.
By distribution channel, the market is divided into online and offline. In 2022, the offline segment registered the maximum revenue share in the market. Specialty tea shops and traditional herbal medicine stores that operate offline have become more popular due to a preference for in-person product selection, particularly in tea shops where customers may evaluate the aroma and quality of tea leaves. These specialized stores cater to the particular needs of customers, as they provide personalized and knowledgeable shopping experiences driven by frequent sales of specific products. Additionally, the accessibility of chrysanthemum tea through offline sales channels ensures prompt access, eliminating the need for extensive delivery times. Consequently, these variables contribute to the anticipated expansion of this segment during the forecast period.
By type, the market is categorized into Chrysanthemum indicum and Chrysanthemum morifolium. The Chrysanthemum morifolium segment covered a considerable revenue share in the market in 2022. Some studies suggest that Chrysanthemum morifolium may have a mild hypotensive (blood pressure-lowering) effect. It is often consumed as tea to help regulate blood pressure, especially in cases of mild hypertension. In traditional Chinese medicine, this variety of chrysanthemum is sometimes used to address respiratory issues. It is believed to have a soothing effect on the respiratory tract and may be included in herbal remedies for coughs and colds. Tea is made from the plant's dried leaves, which has been stated to aid in digestive issues and other health advantages.
Based on packaging, the market is classified into loose, tea bags, and bottled/canned. In 2022, the loose segment witnessed the largest revenue share in the market. Individuals can tailor their brew to their preferences, and those who prefer a premium tea-consuming experience can also benefit from the customization and control offered by loose tea leaves. The wide range of tea varieties and specialized blends offered in loose-leaf form, which satisfies consumers' cravings for exploration and unique flavor experiences, further fuels consumer demand during the projected period for the market. In addition, the sustainability and eco-friendliness of loose tea leaves appeal to environmentally conscious consumers because there is no packaging waste.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 150.6 Million |
| Market size forecast in 2030 | USD 217 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 4.8% from 2023 to 2030 |
| Number of Pages | 370 |
| Number of Table | 810 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Thousand, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Distribution Channel, Application, Packaging, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022 the Asia Pacific region led the market by generating the highest revenue share. This domination is mostly attributable to the significant place that chrysanthemum tea holds in the daily lives of millions of customers in important nations like China, Korea, Singapore, and Japan. Chrysanthemum tea has become a popular revitalizing beverage due to its ability to calm the body and provide relief from the sweltering summer conditions.
Free Valuable Insights: Global Chrysanthemum Tea Market size to reach USD 217 Million by 2030
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Yunnan Sourcing Tea Shop Bravo Teas & Herbs, Inc., Asha Tea House, Teasenz (Hong Kong Oriental Tea Co., Limited), The Chinese Tea Company, Ten Ren Tea Co., Ltd., Grand Tea & Imports, Onyx Coffee Lab, Chymey Teas, Yeo Hiap Seng Ltd. (Far East Organization)
By Application (Volume, Tonnes, USD Thousands, 2019-2030)
By Distribution Channel (Volume, Tonnes, USD Thousands, 2019-2030)
By Type (Volume, Tonnes, USD Thousands, 2019-2030)
By Packaging (Volume, Tonnes, USD Thousands, 2019-2030)
By Geography (Volume, Tonnes, USD Thousands, 2019-2030)
This Market size is expected to reach $217 Million by 2030.
Increasing tea consumption globally are driving the Market in coming years, Insufficient awareness and familiarity restraints the growth of the Market.
Yunnan Sourcing Tea Shop Bravo Teas & Herbs, Inc., Asha Tea House, Teasenz (Hong Kong Oriental Tea Co., Limited), The Chinese Tea Company, Ten Ren Tea Co., Ltd., Grand Tea & Imports, Onyx Coffee Lab, Chymey Teas, Yeo Hiap Seng Ltd. (Far East Organization)
In the year 2022, the market attained a volume of 2,156.1 Tonnes, experiencing a growth of 4.8% (2019-2022).
The Commercial segment is generating highest revenue in the Market, By Application in 2022 thereby, achieving a market value of $156.9 million by 2030.
The Asia Pacific region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $87.2 million by 2030.
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