Increasing preference for healthy alternatives to traditional variants of tea is expected to drive the global decaffeinated tea market growth. Fortune Business Insights provides key market information in its report, titled “Decaffeinated Tea Market Size, Share and Global Trend By Nature (Conventional, Organic), By End-use (Beverages, Dietary Supplements, Household), By Distribution Channel (B2C, B2B, Online Retailers, Store-based Retailers), and Geography Forecast Till 2026.” The report shares valuable insights and contains an in-depth market analysis of the key factors influencing the market.
Decaffeinated tea refers to a specialized tea variety that has low levels of caffeine. It is derived from black or green using carbon dioxide, water, or natural solvents.
Rising Proclivity for Healthy Lifestyles to Boost the Market
The global decaffeinated tea market is set to surge during the forecast period owing to the growing adoption of healthy lifestyles. Such lifestyles mainly include developing nutritional diets, drinking healthy beverages, and exercising. These concerns have recently emerged as lifestyles are becoming more sedentary, which is giving rise to various chronic health conditions such as obesity and diabetes. Decaf tea can counter the effects associated with these chronic ailments such as aiding fat burning.
High Cost of Decaf Tea May Lead to Restrained Market Growth
Compared to regular tea, decaffeinated tea is more expensive as it is prepared using natural processes. Prolonged preparation periods increase the production cost, which marks up the retail price of the product. Moreover, traditional tea drinkers still prefer to drink regular tea with milk and therefore, the global decaf tea market is yet to find a solid ground in key regions.
Product Innovation and Acquisitions to Spur Market Competition
The global decaffeinated tea market is anticipated to witness intense competition as key market players aim to gain a competitive edge through innovative products and strategic acquisitions. For example, in March 2019, Martin Bauer announced the acquisition of BI Nutraceuticals in a bid to diversify their product portfolio and gain greater market presence in the US.
Some of the key players in the global decaffeinated tea market, as identified by Fortune Business Insights, include Novo Agriculture Limited, Celestial Seasonings Inc., Martin Bauer GmbH and Co., Elixir Biosciences Private Limited, Tetley, AVT Natural Products Limited, and a few others.
High Addiction Levels to Fuel the Market in Europe
Europe is expected to occupy a leading market position till 2026 on account of high level of tea addiction among the people in the region, particularly in Western European countries. This factor will also be responsible for rapid increase in demand and consumption of tea. As a result, the global decaffeinated tea market size will expand at a steady pace during the forecast period.
Asia-Pacific region is expected to register an impressive growth rate owing to countries such India and China who are the largest tea exporters in the world. Growing health-conscious populations and gradual shifting to organic tea production will make the global decaffeinated tea market highly dynamic.
· North America (USA, Canada, and Mexico)
· Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of ME&A)