Market Overview
The global Butterfly Pea Flower Tea Market Analysis is projected to exhibit a CAGR of 5.25% during the forecast period of 2021 to 2028.
Butterfly Pea Flower Tea Market Analysis Highlights
The global Butterfly Pea Flower Tea Market Analysis is projected to be valued at USD 670.6 million by 2028, recording a CAGR of 5.25% during the forecast period. The growing consumers consciousness regarding health and diet, coupled with the increasing incidences of skin-related health issues, is expected to boost the demand for butterfly pea flower tea. Butterfly pea flower tea has numerous properties including The flavonoids present in butterfly pea flower tea help stimulate collagen production, which helps in developing and maintaining skin elasticity. Drinking a cup of warm butterfly pea flower tea regularly helps in eliminating undigested food particles from the system, clearing the liver, kidneys, and stomach. This, in turn, helps in cleaning the body internally and enormously brightens dull skin, by removing dark spots and uneven skin tone.. Furthermore, the skin care market is also subsequently expected to experience huge development during the forecast period. Moreover, consumers are increasingly becoming conscious owing to new product advertising initiatives taken by brand owners coupled with an increasing inclination toward organic products which has minimum side effects and higher efficiency is expected to propel the market growth during forecast period.
The lockdown in various countries across the globe is also affecting the production capacity of the butterfly pea flower tea manufacturing companies. Manufacturers in the industry are also facing production problems as they have to either shut down production to ease employee concerns or are run production under-staffed. Procurement of ingredients has also become a major concern for the manufacturers. The company’s contract manufacturer that produces the butterfly pea flower tea had to close the production facility in response to the ongoing disease outbreak, which has affected both the manufacturing and shipping of the butterfly pea flower tea. This is further hampering the demand-supply of butterfly pea flower tea.
With countries across the world, locking down their borders, there have been minimum export-import movements, which has profoundly impacted the growth of the overall butterfly pea flower tea industry. Measures to contain COVID-19 have led to multiple productions and transport disruptions in China, where much of the global supply of ingredients originates. All this has severely affected the supply chain of Butterfly Pea Flower Tea Market Analysis at a global level.
Segmental Analysis
The global Butterfly Pea Flower Tea Market Analysis has been segmented based on form, category, distribution channel, and region.
By form, the global Butterfly Pea Flower Tea Market Analysis has been segmented into loose leaves and tea bags. The tea bags segment holds the largest market share in global Butterfly Pea Flower Tea Market Analysis for the year 2020. And is expected to grow at a high rate due to the convenience offered by tea bags both for household and out-of-home purposes. .
By category, the global Butterfly Pea Flower Tea Market Analysis has been segmented as organic and conventional. The conventional segment holds the largest market share in global Butterfly Pea Flower Tea Market Analysis for the year 2020. Whereas, organic segment is expected to grow fastest with a higher CAGR in the global Butterfly Pea Flower Tea Market Analysis during the period forecasted, owing to the increasing consumer inclination towards organic products due to the growing consumer awareness about numerous health benefits provided by organic products.
By distribution channel, the global Butterfly Pea Flower Tea Market Analysis has been segmented as store-based and non-store-based. Store-based distribution channels include supermarkets hypermarkets, convenience stores, specialty stores, and others. The non-store-based segment holds the largest market share in global Butterfly Pea Flower Tea Market Analysis for the year 2020. Manufacturers of butterfly pea flower tea are inclined towards non-store-based distribution channels for the extensive sales of their products. Owing to the COVID-19 there has been lockdown in the majority of the countries and has resulted in the forced closure of retail stores. Companies are opting for online distribution platforms as they need to extend their consumer reach, considering the present situation. Also, consumers have access to a wide variety of products in terms of quantity, pack size, as well as several offers.
Regional Analysis
Geographically, the global boba tea stock has been categorized as North America, Europe, Asia-Pacific, South America, and Middle East Africa. As per MRFR analysis, Asia-Pacific constituted a dominant share of lactoferrin market in 2020. And North America is expected to grow with the highest CAGR during the forecast period.
Key Players
Market Research Future has recognized the following companies as the key players in the global Butterfly Pea Flower Tea Market Analysis: Siam Industries International (Thailand), Yumchaa (London), Manila Superfoods (Philippines), Woodland Foods (US), My Blue Tea (Australia), ÉsahTea (India), Shyali Products Private Limited (India), Wild Hibiscus Flower Co. (Australia), Blue Tea. (India), and Longevity Warehouse (US).
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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