Chrysanthemum Tea Market was valued at USD 0.75 Billion in 2022 and is projected to reach USD 1.20 Billion by 2030, growing at a CAGR of 8.0% from 2024 to 2030.
The chrysanthemum tea market has experienced significant growth in recent years, driven by increasing consumer interest in floral-infused beverages and the health benefits associated with chrysanthemum tea. This article provides an in-depth analysis of the chrysanthemum tea market, including its current size, growth projections, key drivers, challenges, and opportunities. By examining various market segments and regional dynamics, we aim to offer a comprehensive understanding of the chrysanthemum tea industry.
Chrysanthemum tea, a traditional beverage in many Asian cultures, is made by infusing dried chrysanthemum flowers in hot water. Known for its delicate floral flavor and potential health benefits, such as antioxidant and anti-inflammatory properties, the tea has gained popularity beyond its traditional markets. The global chrysanthemum tea market was valued at $153.1 million in 2022 and is projected to reach $249.8 million by 2032, registering a compound annual growth rate (CAGR) of 5.1% from 2023 to 2032.
The chrysanthemum tea market can be segmented based on type, packaging, application, distribution channel, and region. Understanding these segments is crucial for identifying growth opportunities and tailoring marketing strategies.
Chrysanthemum Indicum: This segment held the highest market share in 2022, accounting for more than half of the global chrysanthemum tea market revenue. Chrysanthemum indicum is renowned for its believed antioxidant and anti-inflammatory properties, which improve liver health, aid digestion, and provide relief for respiratory issues. It has been consumed for centuries in traditional Chinese medicine for its potential health benefits, such as relief from respiratory issues, reduction of inflammation, and promotion of relaxation.
Chrysanthemum Morifolium: This segment is anticipated to grow at the fastest rate during the forecast period, with a projected CAGR of 6.1%. Chrysanthemum morifolium is known for its vibrant color and is often used in premium blends.
Loose Tea: The loose tea segment held the highest market share in 2022, accounting for more than two-fifths of the global chrysanthemum tea market revenue. Loose tea offers customization and control, allowing individuals to tailor their brew to personal preferences. The extensive variety of tea types and specialty blends available in loose-leaf form further drives consumer demand.
Tea Bags: The tea bags segment is expected to display the fastest CAGR of 6.8% during the forecast period, driven by convenience and ease of use.
Bottled/Canned: This segment caters to consumers seeking ready-to-drink options, offering convenience and portability. The demand for bottled and canned chrysanthemum tea is rising, particularly in urban areas.
Residential: The residential segment accounts for a significant portion of the market, driven by consumers seeking health benefits and unique flavors in their daily beverages.
Commercial: The commercial segment, including restaurants, cafes, and hotels, also holds a substantial market share. The growing trend of offering diverse beverage options in hospitality establishments contributes to the expansion of this segment.
Online: The online segment is expected to register the fastest growth, driven by the increasing trend of online shopping and the convenience it offers to consumers. E-commerce platforms provide a wide range of chrysanthemum tea products, catering to diverse consumer preferences.
Offline: Traditional retail channels, including supermarkets, specialty stores, and local markets, continue to play a significant role in the distribution of chrysanthemum tea. These channels offer consumers the opportunity to experience the product firsthand before purchase.
Asia-Pacific: The Asia-Pacific region holds the largest market share, with countries like China, Japan, and South Korea being major consumers of chrysanthemum tea. The traditional consumption patterns and cultural significance of chrysanthemum tea in this region contribute to its dominance.
North America and Europe: These regions are experiencing growing interest in specialty teas, including chrysanthemum tea, driven by health-conscious consumers and the trend toward natural and botanical beverages.
Latin America and Middle East & Africa: These regions are emerging markets for chrysanthemum tea, with increasing awareness and demand for diverse beverage options.
Several factors contribute to the growth of the chrysanthemum tea market:
Health Benefits: Chrysanthemum tea is associated with various health benefits, including antioxidant and anti-inflammatory properties, which appeal to health-conscious consumers.
Demand for Floral-Infused Beverages: There is a growing consumer preference for beverages with unique flavors and natural ingredients, driving the demand for floral-infused teas like chrysanthemum tea.
Product Innovation: Companies are introducing new blends and packaging formats to cater to diverse consumer preferences, enhancing the appeal of chrysanthemum tea.
Despite its growth, the chrysanthemum tea market faces several challenges:
Limited Awareness: In certain regions, there is limited awareness and familiarity with chrysanthemum tea, hindering its widespread acceptance.
Cultural Perceptions: In some cultures, chrysanthemums are associated with mourning and funerals, which may negatively impact the acceptance of chrysanthemum tea as a beverage choice.
Competition: The market faces competition from established beverages, including traditional teas and other herbal infusions, which may limit the growth potential of chrysanthemum tea.
Despite the challenges, there are significant opportunities for growth in the chrysanthemum tea market:
Expansion of Specialty Tea Market: The growing interest in specialty teas presents opportunities for chrysanthemum tea to gain a larger market share.
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Changsha Ayhhed Biotechnology Co. Ltd
Huangshan Greenxtract Co. Ltd
Anhui Yiyuan Herbal Pieces Technology Co. Ltd
Fujian Province Guangfu Tea Co. Ltd
Kangerfu Health Beverage Food Co. Ltd
Hangzhou Anatta Tea Co. Ltd.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Chrysanthemum Tea Market
Retail
Catering
Based on Types the Market is categorized into Below types that held the largest Chrysanthemum Tea market share In 2023.
Chrysanthemum Indicum
Chrysanthemum Morifolium
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Chrysanthemum Tea Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Chrysanthemum Tea Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Chrysanthemum Tea Market, By Type
6. Global Chrysanthemum Tea Market, By Application
7. Global Chrysanthemum Tea Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Chrysanthemum Tea Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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