Allied Market Research Report Predicts Hemp Tea Market Growth at 22.1% CAGR Through 2031, Driven by Health Benefits and Consumer Demand for Herbal Beverages
According to a new report published by Allied Market Research titled “Hemp Tea Market,” the hemp tea market, valued at $56.2 million in 2021, is projected to reach $392.8 million by 2031. This growth represents a compound annual growth rate (CAGR) of 22.1% from 2022 to 2031.
Benefits Driving Popularity
Hemp tea, made from various parts of the hemp plant including stems, leaves, flowers, and buds, is gaining popularity as an energetic herbal beverage. Unlike other cannabis species, hemp does not naturally produce Tetrahydrocannabinol (THC), the psychoactive compound, but contains Cannabidiol (CBD), especially when derived from hemp flowers.
The rising popularity of hemp tea can be attributed to its numerous health benefits, including anti-inflammatory, anti-stress, anti-anxiety, and anti-depressive properties. Hemp tea’s antioxidant capabilities help reduce the negative effects of stress on the body and mind, while its rich nutrient composition enhances overall health and boosts energy levels. Additionally, hemp tea infusions contain less than 0.3% THC, making them safe, legal, and non-psychoactive. Benefits such as alleviating high blood pressure and reducing inflammation to prevent arterial damage are expected to boost the hemp tea market demand in the upcoming years.
Regulatory and Health Challenges
However, the hemp tea market faces challenges due to stringent regulations imposed by many countries on cannabis usage, which may hinder market expansion. Potential side effects associated with hemp tea, such as digestive issues, drowsiness, and reduced appetite, could also affect market opportunities.
Opportunities for Market Expansion
Despite these challenges, the rising popularity of herbal tea among health-conscious consumers and ongoing product launches of new hemp tea flavors by leading players are expected to create numerous opportunities for market expansion. The presence of well-known hemp tea producers and their efforts to innovate and develop new hemp tea products contribute to the market’s growth. Several enterprises are establishing manufacturing facilities and launching new hemp tea product lines, encouraged by tax restrictions surrounding cannabis cultivation and use in various countries.
Market Segmentation and Key Players
The global hemp tea market is segmented based on distribution channels and regions. By distribution channel, the market is classified into online/direct-to-consumer, convenience stores, and others. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the hemp tea market report include ItsHemp, Willie’s Remedy, Clipper Teas, Buddha Teas, Traditional Medicinals, The Tea Can Company, Cannabiniers, Colorado Harvest Company, Charlotte’s Web, and Green Roads.
Comprehensive Market Analysis
The report offers a thorough analysis of the global hemp tea market trends by studying different aspects of the market, including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and the efforts of top players towards market growth. Additionally, it highlights the present scenario and upcoming trends and developments contributing to the hemp tea market growth. Restraints and challenges that could obstruct market growth are also profiled, alongside Porter’s five forces analysis to elucidate factors such as the competitive landscape, bargaining power of buyers and suppliers, threats of new players, and the emergence of substitutes in the market.
This comprehensive analysis aims to provide valuable insights for investors, stakeholders, and industry participants looking to understand the growth dynamics and future opportunities in the hemp tea market.
The hemp tea market is poised for significant growth over the next decade, driven by increasing consumer demand for herbal beverages and the health benefits associated with hemp tea. Despite regulatory challenges and potential side effects, the market is expected to expand rapidly, offering numerous opportunities for innovation and investment.
The Allied Market Research report provides a detailed roadmap for navigating the hemp tea market, highlighting key trends, challenges, and opportunities that will shape its future trajectory.
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