Hemp Tea Market

Market Size:

The global Hemp Tea Market was valued at XX in 2020 and is expected to reach around XX by 2028, at a CAGR of about XX% between 2021 and 2028.

Market Overview:

Hemp tea can be made purely from the leaves of the hemp plant or additionally from the flowers and stems of the female cannabis plant, a well-known source of Marijuana. The hemp leaves used are dried in the production process of the tea and possibly mixed with other ingredients. Its taste and smell are very aromatic, reminiscent of herbal teas, and similar to the smell of straw. As with other teas, the taste of the tea intensifies with the length of the brewing time.

Hemp tea is also called CBD tea. CBD stands for cannabidiol, a molecular compound that has almost exactly the same chemical structure as THC: tetrahydrocannabinol. Due to its potential of providing anti-inflammatory, anti-stress, anti-anxiety, and anti-depressive effects, hemp tea is becoming increasingly popular amongst people. The addition of hemp tea to a daily diet can increase the tea's overall relaxing effects on a person.

Market Dynamics:  

Hemp tea is becoming more popular all around the world. Numerous health advantages of hemp tea include body weight control, anxiety reduction, and depression reduction. Additionally, hemp tea is a great source of vitamins, minerals, and antioxidants that further improve a person's health. Many consumers have been attracted to try and incorporate these new plant-based herbal products in their daily diet plan because of the advantages of hemp tea. Hemp tea also has anti-stress properties that lessen the damaging effects of stress on the body and psyche. These elements are anticipated to fuel the hemp tea market growth during the anticipated analysis period.

Various benefits offered by hemp tea such as improvement of sleep quality, and easing of chronic pain, relief from nausea & muscle cramps, and alleviation of high blood pressure fuel the growth of the global hemp tea market. Many people continue to think that since hemp tea is manufactured from cannabis, it can make them feel intoxicated and high. The market expansion of hemp tea in the upcoming years is likely to be constrained by public misconceptions about the beverage.

Drivers:

• Rising popularity of herbal tea among health-conscious consumers worldwide

• The growing understanding of hemp’s numerous alleged health benefits

• Rising personal disposable income

• The rising need for wellness beverages by the consumers

• Legalization of cultivation of cannabis plant

Restraints:

• Strict laws enforced by the governments on the use of cannabis and related products

Opportunities:

• Introduction of New Products and Flavors in Hemp Tea by key market players.

COVID-19 Impact:

The COVID-19 pandemic has impacted every aspect of life and business. The business sector has been severely impacted by the COVID-19 outbreak worldwide. During the pandemic, there was a significant detrimental impact on the hemp tea market. Governments all around the world have put severe laws and travel restrictions to stop the deadly coronavirus from spreading, which has led to a decrease in the transit and procurement of raw materials to businesses that make hemp products. Due to this aspect, fewer hemp products such as hemp tea was produced, which caused volatility in market revenue.

Due to the COVID-19 pandemic, companies manufacturing hemp tea were forced to close their operations as raw material supply was scarce. Due to this aspect, the manufacturing of hemp products, including hemp tea, decreased, causing fluctuations in product sales and the company’s expansion. Also, the production activity of the companies was severely hampered due to labor shortages, thereby, hindering the hemp tea market expansion.

Additionally, owing to increased complications brought on by COVID-19, consumers chose not to consume cannabis-derived hemp tea because people believed it might make their corona symptoms worse. As a result, they chose not to drink hemp tea made from cannabis. Due to this, the demand for hemp tea products has further declined. During the pandemic period, these factors have reduced the demand for hemp tea which has negatively impacted the hemp tea market share growth.

Segmental Analysis:

The global Hemp Tea Market is segmented based on Distribution Channel and Region.

The online/direct-to-consumer segment accounted for the highest market share in 2021 and is estimated to show the fastest growth during the forecast period.

Based on Distribution channels, the market is segmented into Online/Direct-To-Consumer, Convenience Stores, and Others. The online/direct-to-consumer segment is anticipated to have a dominant market share and is projected to witness the fastest CAGR of about 22% over the forecast period. This growth is due to the increasing online shopping preference among people as online shopping takes less time and effort.

When choosing a product online, people can choose from a wide range of results. Along with this, businesses and websites provide a variety of fresh offers and schemes that draw customers in. These factors are likely to drive the hemp tea market share growth in the forecast time period.

Regional Analysis:

North America hemp tea market accounted for the highest market share in 2021 and The Asia-Pacific hemp tea market is anticipated to observe the fastest growth in the coming years.

At the regional level, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East, and Africa. North America has dominated the hemp tea industry in 2021. The regional growth is mainly attributed to people's increasing preference for plant-based beverages, which improve people's overall health. If hemp tea is consumed, it aids in weight loss and also strengthens the immune system. To meet the rising demand for new flavors in beverages, leading industry participants have also concentrated on introducing new products in the market. All these factors are likely to flourish the hemp tea market growth in the anticipated time.

Asia Pacific is anticipated to manifest the fastest CAGR of about 23% during the forecast period, as a majority of the countries in the region such as India, China, and Australia approved the use of hemp and cannabidiol for food and many nations are in the process of granting regulatory go-ahead. The relaxation of regulations governing the commercial use of cannabis products in the region is largely responsible for this rise. In addition, the growing launch of novel hemp tea products in this region increases the demand for the product.

Key Market Players:

• Buddha Tea

• Traditional Medicinals

• Its Hemp

• Clipper Tea

• Willie’s Remedy

• Colorado Harvest Company

• Cannabiniers

• Tranquility Tea Company

• The Tea Can Company Specialty Teas

• Neo Australia

• Others

Company overview, financial overview, product portfolio, business strategy, and recent developments for major market players operating in Hemp Tea Market are included.

Hemp Tea Market Report Scope:

Attribute

Details

Market Size in 2020

XX Billion

Market Size in 2028

XX Billion

CAGR (%)

XX% from 2021 to 2028

Historic Period

2017 – 2019

Base Year

2020

Forecast Period

2021 – 2028

Segments Covered

Distribution Channel and Region.

Regional Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key Companies Profiled

Buddha Tea

Traditional Medicinals

Its Hemp

Clipper Tea

Willie’s Remedy

Colorado Harvest Company

Cannabiniers

Tranquility Tea Company

The Tea Can Company Specialty Teas

Neo Australia

Others

The report segments of the  global Hemp Tea Market are as follows:

By Distribution Channel

• Online/Direct-To-Consumer

• Convenience Stores

• Others

By Region

North America

o U.S.

o Canada

o Rest of North America

Europe

o UK

o Germany

o France

o Italy

o Spain

o Russia

o Rest of Europe

Asia Pacific

o China

o Japan

o India

o Australia

o Southeast Asia

o Rest of Asia Pacific

Latin America

o Brazil

o Mexico

o Rest of Latin America

Middle East and Africa

o Saudi Arabia

o UAE

o South Africa

o Rest of Middle East and Africa

Proceed To Buy

USD 2950
USD 3950

Report Detail

  • Status:Published
  • Report Code:NNRR 19
  • No. of Pages:167
  • Published DateJune 2023
  • Category:Food and Beverages
  • Delivery Timeline:48 hrs

Customized

  • => Region Level Market Share
  • => Import Export Analysis
  • => Additional Company Profiles
  • => Region Specific Market Dynamics
  • => Production Analysis
  • => Additional Countries (Apart From Mentioned Countries)
  • => Country/Region-specific Report